Drive More Efficient Growth (πŸ“ˆ MTN #19)

Author's avatar Move The Needle UPDATED Apr 9, 2024 PUBLISHED Sep 11, 2023 4 minutes read

Table of contents

    Peter Caputa

    To see what Databox can do for you, including how it helps you track and visualize your performance data in real-time, check out our home page. Click here.

    In this edition

    • πŸ“Š GA4 benchmarks for SaaS and B2B
    • πŸ’‘ Increasing traffic to your SaaS website
    • πŸ“ˆ Driving more efficient growth

    πŸ“Š Featured Benchmark Data (from Benchmark Groups)

    GA4 benchmarks for SaaS and B2B companies

    Median performance in August 2023:

    • Sessions: 2.9k
    • Sessions per user: 1.3
    • Engaged sessions: 1.7k
    • Active users: 2.1k
    • Engagement rate: 53%

    Join this group to see more insights, where you’re ahead, and where you can improve.

    πŸ’‘ Trends & Insights (from Reports & Surveys)

    Increasing traffic to your SaaS website

    In keeping with the website traffic theme, let’s talk about driving more traffic to your SaaS website.

    Most companies would like to drive more traffic to their sites, provided it’s their ideal customer profile (ICP) who’s visiting. So in our latest article, we tried to offer some insights to help you improve it.

    We consulted SaaS marketers through our Benchmark groups, a survey, and a LinkedIn discussion, and distilled their insights into a research article. 

    Here are some of the insights:

    • The median SaaS company gets around 131k search impressions and 2.3k~ clicks (from our benchmark data for Google Search Console)
    • The average position is 33
    • The top 3 tactics cited to improve SaaS traffic were 1) high authority backlinks, 2) high-quality content, and 3) on-page optimization. No real surprise there.
    • We distilled the top advice respondents shared on improving traffic down to these: monitor traffic regularly, use a content calendar to maintain regular high-quality content, build content clusters, make linkable assets, leverage your existing community, implement lists and directories, and, audit and refresh your content

    If you want to dive even deeper into this topic, we hosted 2 incredible interviews with leading SaaS SEO pros on the podcast.

    You can listen to their interviews here: Growing traffic by 20% in 30 days, and Increasingly monthly traffic by 313%

    πŸ“ˆ Drive Predictable Performance (from Metrics & Chill)

    Driving smart, sustainable, long-term growth

    If it wasn’t before, efficient growth is on everyone’s minds now.

    And making the shift to an “efficient growth” mindset becomes a little easier when you have the right data to inform your decisions. The right information should help you answer questions like:

    What’s our revenue per headcount?
    When should we hire a new AE or BDR?
    How many customers should each CSM service?
    Are deals moving through the funnel quickly enough?
    How many dollars do we get for each marketing & sales dollar we spend?

    And ultimately: how do we keep costs low, and drive revenue as high as possible, with the least amount of resources?

    We recently had Brad Rosen on Metrics & Chill to share how companies can make this shift to driving more efficient growth.

    Here are a few insights he shared:

    Measuring efficiency is everyone’s job.

    Yes, leadership should measure things like total revenue over total cost, or CAC payback. But if you’re going to measure and improve employee efficiency across the company, it requires buy-in from the entire company.

    It’s not just one person’s or one team’s job. Everyone will be responsible for tracking and monitoring these metrics and offering solutions to move the needle on them.

    Ask your managers to contribute metrics they feel best track their team’s efficiency.

    This is a really simple way to start if you haven’t. Your managers have the best context for measuring the efficiency of their team. Ask them to pick 1-3 metrics that best highlight their team or individual team members’ efficiency.

    Share this data transparently across the company.

    Sales should be able to see that retention rates are dipping month over month. Marketing should see that close rates are dropping. This will empower team leaders to proactively change their approach, or offer ideas to help solve the problem.

    Review your efficiency metrics weekly, or monthly.

    It’s crucial to review these numbers with your team regularly. It will help you keep everyone rowing in the same direction, and catch when progress is stalled out. Plus, your team will feel empowered to offer suggestions to improve things.

    And most importantly: just start somewhere.

    Just because you can’t measure everything today, doesn’t mean you shouldn’t start measuring something. This can be as simple as picking just 3 metrics that represent employee or revenue efficiency and writing them down every month.

    For example, if you haven’t been tracking efficiency metrics for your funnel, it may be really hard to learn if deals sourced from LinkedIn Ads retain and upgrade at a higher rate than deals sourced via outbound. But you can put a system in place to start tracking that now, so you can answer questions like that in the future.

    If you’re trying to drive more efficient growth and want to hear all the insights Brad shared, check out the full episode…

    Drive predictable growth

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    Jeremiah Rizzo

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