Accelerate your thought leadership by contributing to our blog. Join our community of experts now!
📊 Featured Benchmark Data (from Benchmark Groups)
Median HubSpot CRM & Marketing performance for B2B companies (May 2023):
Join this group to view more metrics, and how your company stacks up. See if you’re ahead or behind the curve, and where you can improve.
💡 Trends & Insights (from Reports & Surveys)
It’s crucial to build a marketing and sales funnel that lets you see how your company is performing at each stage of the customer journey.
From the time prospects visit your website, to the time they sign up, purchase, or close a deal, you should be able to visualize performance at each stage.
For SaaS companies, many of these funnel stages take place on your website and in your product. And chances are, you’re using Google Analytics to track some, or all of them.
Prior to GA4 (in the fondly remembered era of Universal Analytics), companies would measure “Goals” to track the performance of user behaviors they considered important. But with the advent of GA4, these funnel stages can be tracked as “Events”.
Similar to Goals, you can create Events for any important visitor action you want to track over time. For example, many SaaS companies will want to track things like:
According to Databox Benchmark data from 193 SaaS companies in February 2023, the median Events per Session was 7.47 and the median Event Count per User was 10.99.
In other words, each user visiting one of those SaaS websites in February logged a total of 11~ events. The top quartile logged 17, while the bottom quartile logged 8~.
Obviously, the events a SaaS company tracks are going to depend heavily on its unique strategy, positioning, and growth stage. But there are certain events every SaaS company should be tracking. And we wanted to put together a resource to help you understand and start tracking them in GA4 (if you aren’t already).
To do that, we surveyed a number of companies to see which events they find most important.
Here are some of the insights:
📈 Drive Predictable Performance (from Metrics & Chill)
Sam Bowley, a senior Rev Ops leader, came on Metrics & Chill to share basic steps any B2B company can take to pull data out of their customer lifecycle journey, and use it to drive growth.Here’s one almost any company can do as long as their CRM has the most basic data.Start by isolating a cohort of customers who have recently churned, or retained/upgraded.First, analyze three basic details:1. Their industry2. The employee size (or revenue size)3. Who the decision maker wasNext, analyze the trend lines to see when the decision to churn or retain is most commonly made (month 4, month 6, etc.), and look for common trends among both groups (e.g. number of users in their account, amount of time they use your software, etc.).By studying these two things, you can start to unearth insights and share them with your Marketing, Sales, or CS team.You’re mainly looking to answer: “of the customers that churned/retained, why did they make that decision, and how can we apply that knowledge further up the funnel (to CS, Sales, or Marketing).”For example, you may notice that 87% of all retained customers are from 2 specific industries, or that in most cases the main point of contact holds the same title. So you inform Marketing, and they refine their messaging and targeting.Or, that most people churned by month 4, so you work with CS to analyze what might be happening around that timeframe. You find that 80% of those who churned never added additional team members to their account, so you implement a new onboarding flow to encourage that to happen in the first 3 months.Sam recommends doing this every 6 months on average, though the optimal timeframe depends on your stage and company.
Here were a few other tips he offered:
If you want to hear all the insights Sam shared about using data to grow your company, listen to the full episode anywhere you get your podcasts.
Join “Move The Needle” and get issues like this delivered to your inbox. Each issue we share tactics, strategies and ideas from B2B leaders on how to drive consistent, predictable growth at your company.
Get practical strategies that drive consistent growth
Latest from our blog
Popular Blog Posts
POPULAR DASHBOARD EXAMPLES & TEMPLATES