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

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.

Today’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, I’m taking tangible metrics such as DAU and Pageviews as hypothetical example metrics.

[1] 𝐃𝐚𝐭𝐚 𝐂𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐂𝐥𝐞𝐚𝐧𝐢𝐧𝐠

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] 𝐃𝐚𝐭𝐚 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐧𝐝 𝐃𝐚𝐬𝐡𝐛𝐨𝐚𝐫𝐝𝐬

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] 𝐇𝐲𝐩𝐨𝐭𝐡𝐞𝐬𝐞𝐬 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐚𝐧𝐝 𝐀/𝐁 𝐓𝐞𝐬𝐭𝐢𝐧𝐠

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] 𝐆𝐫𝐨𝐰𝐭𝐡 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐚𝐧𝐝 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧-𝐌𝐚𝐤𝐢𝐧𝐠

• 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.

𝐅𝐢𝐧𝐚𝐥 𝐖𝐨𝐫𝐝𝐬

[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