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Moving tangible metrics - SaaS with ARR between $1 to $10 million.

Author

Chintankumar Maisuria
July 29, 2024

Read time: 3 minutes.

Welcome to the 57th edition of The Growth Elements Newsletter. Every Monday, I write an essay on growth metrics & experiments and business case studies.

Todayโ€™s piece is for 5,100+ founders, operators, and leaders from businesses such as Shopify, Google, Sage, Hubspot, Zoho, RateGain, Zaggle, Servcorp, Apollo and more.

Happy Monday!

Moving tangible metrics is extremely important for SaaS with ARR between $1 to $10 million.

And that requires building a Growth Team that moves with the Task rather than the Funnel or Function.

Broadly, it should be split into four core areas:

  1. someone who looks at data

  2. someone who builds dashboards

  3. someone who does A/B testing

  4. someone who develops a growth strategy and makes strategic decisions.

Throughout the post, Iโ€™m taking tangible metrics such as DAU and Pageviews as hypothetical example metrics.

[1] ๐ƒ๐š๐ญ๐š ๐‚๐จ๐ฅ๐ฅ๐ž๐œ๐ญ๐ข๐จ๐ง ๐š๐ง๐ ๐‚๐ฅ๐ž๐š๐ง๐ข๐ง๐ 

This member or group ensures reliable data collection, cleansing, and maintenance.

  • Data Collection: Gather metrics like Daily Active Users (DAU), page views, etc.

  • Data Cleansing: Correct inaccuracies and inconsistencies.

  • Data Maintenance: Update data repositories regularly.

[2] ๐ƒ๐š๐ญ๐š ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐š๐ง๐ ๐ƒ๐š๐ฌ๐ก๐›๐จ๐š๐ซ๐๐ฌ

This member or group analyses data to create insightful dashboards.

  • Data Analysis: Identify trends and anomalies in DAU and other metrics.

  • Dashboard Development: Build dashboards using Mixpanel, Tableau, and Power BI tools.

  • Reporting: Summarize key metrics in periodic reports.

[3] ๐‡๐ฒ๐ฉ๐จ๐ญ๐ก๐ž๐ฌ๐ž๐ฌ ๐๐ฎ๐ข๐ฅ๐๐ข๐ง๐  ๐š๐ง๐ ๐€/๐ ๐“๐ž๐ฌ๐ญ๐ข๐ง๐ 

Generates hypotheses and validates them through A/B tests.

  • Hypothesis Generation: Develop growth strategies based on data trends.

  • A/B Testing: Test different strategies to improve DAU and page views.

  • Experimentation: Run continuous optimisation experiments.

[4] ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐’๐ญ๐ซ๐š๐ญ๐ž๐ ๐ฒ ๐š๐ง๐ ๐ƒ๐ž๐œ๐ข๐ฌ๐ข๐จ๐ง-๐Œ๐š๐ค๐ข๐ง๐ 

  • Strategic Planning: Develop long-term growth strategies.

  • Uses insights to guide strategic decisions and advise leadership.

  • Decision Making: Use data to inform business decisions.

  • Leadership Guidance: Align findings with growth objectives.

๐…๐ข๐ง๐š๐ฅ ๐–๐จ๐ซ๐๐ฌ

[1] Building a growth data team involves assembling specialists who handle data collection, analysis, hypothesis testing, and developing growth strategy and decision-making.

[2] This structured approach ensures data is effectively utilised to move tangible growth metrics reflected into ARR growth.

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That's it for today's article! I hope you found this essay insightful.

Wishing you a productive week ahead!

I always appreciate you reading.

Thanks,
Chintankumar Maisuria