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- If you Google SaaS metrics, there are over a 100 different metrics that you're gonna find that you apparently are supposed to be tracking. If you talk to a venture capitalist, they're gonna give you a set of metrics, if you talk to a PE investor, it's gonna be a different set of metrics. If you're bootstrapped and you're talking to your fellow CEOs that are bootstrapped, you might be looking at other metrics. If you are talking to your social media manager, they might be talking about likes, if you're talking to your VP of growth, they might be talking about traffic, your VP of sales is talking about revenue, hopefully, but then you'll go back to your room or your office or you'll get off the Zoom call or wherever you go for some solace or you're talking to your co-founder, you might be like, what do we actually look at to figure out if we're doing good? Like, are we gonna be successful or not? Like, what do we look at? And having worked with so many founders, having been in SaaS for the last 15 years, having in my own companies, I've faced this dilemma. So in this episode, I'm gonna walk you through the three metrics, the three metrics that actually matter that will tell you if you are on the right path to success or there's something you really need to fix. And when you follow these three metrics and you look at it every single day, you will be able to accelerate the path of your SaaS business. Intro. (upbeat ambient music) What's up everybody? Welcome to Unstoppable, I'm TK and on this channel, I help SaaS founders like you grow your SaaS businesses faster with an unstoppable strategy. Now, if you are new to this channel, welcome. I drop an episode every single Sunday with actionable strategies and tactics from the trenches on how to grow your SaaS business faster. So be sure to hit the subscribe button and that bell icon, that way you'll get notified every single time I drop an episode with the TK energy. Now, if you are part of this community, first of all, we just hit 30,000 subscribers as of the filming of this episode. And so my people, welcome back. I am so eternally grateful for you and thank you for being here. It just means a lot to me that I can serve you in this way, it just means a lot to me that we have this amazing go to market program where I can work with you in a close way. It's just awesome and I'm really thankful for everything that this Unstoppable community is becoming. So if you've been part of this community, since if you're an OG, if you've been with us through the beginning and now we're at 30,000, be sure to comment below. I'd love to hear from you just for being part of this journey. Now, okay, so we're gonna talk about metrics. And now I remember when I was running my SaaS companies and at one point we had a full data ops team, a biz ops team that would look at all these different metrics. In the early stages, it was just me looking at spreadsheets. Now that I coach over 250 founders, we'll have different founders come to me initially with different metrics that they're looking at. And I remember I was on this one call recently and they were talking about all these different, they had so many different numbers, but they weren't sure what was wrong. They weren't growing. And I was like, wait, hang on, like, all these numbers are good, they're all good metrics, but they're not getting to the root of what actually matters and because of that, you don't have focus, you don't know what to fix, you don't know what to like actually make decisions on. That's the sign of the right metrics, when you're looking at the right metrics, you can actually look at it, have a discussion and say, okay, here's what we need to go fix. This is the only thing that matters. That's how you know you're looking at the right metrics. And so over and over in my 15 years of SaaS, over and over and coaching SaaS founders, these three metrics that I'm gonna show you actually came in handy to really diagnose where we are, are we set up for success? And if not, what do we focus on? Or what do we iterate on? In this video, we're gonna dig into the three metrics that actually matter. And when you measure these, you'll be able to accelerate the growth of your SaaS business. If you're excited to dig in, go to smash out light button for the YouTube algorithm, it really like's it when you do that, and let's first set the context and then we'll dig into metrics. So the context is, I always look at these three metrics within the context of your unstoppable sales funnel. This is what I look at every single SaaS business on. If you're not looking at this and you're disconnected from reality, all those other metrics are important but these are the ones that really matter, and the thing that matters the most is how much traffic are you generating? And out of that, how many of them are becoming leads or hand raisers or getting into the product? How many of them are becoming real sales opportunities or real activated trials? And out of that, how many of them are becoming revenue? So this is the funnel that I look at every SaaS business around because ultimately this is what determines success. Metric number one that I look at for any SaaS company, including the ones that I have operated or operate now or founders that I work with, that I help operate, the first one that I look at is what percentage of people that are finding out about you are actually becoming a lead? They're putting in their email address or download your manifesto, or they're going directly into the product and starting a trial. So this percentage is the first thing that I look at because that's what tells me on, hey, are you actually generating enough traffic? And out of that, is it quality traffic that are saying, oh, yeah, no, I'm interested, like this is something that solves my problem or I'm actually in market for this, or I'm exploring this so tell me more. Otherwise you may be generating, I'd speak to a lot of founders that are generating so much traffic, and they're like, yeah, we are so good at traffic, we're getting so many likes. We like did really well on this like popularity contest we were part of. We announced this thing, but it's like, well, how many leads did you get? Like it doesn't matter otherwise. And so this is the first metric that I always look at. What is the percentage of people that are finding out about you and actually becoming a lead or entering into your product, becoming a trial? Because that's what tells me like, okay, there's something real here, like you're actually attracting the right group of people. And typically what I see is anywhere from 10% to 20%, that's what's healthy in this stage where you're generating traffic and they're like, oh yeah, I'm interested. Whether it's a landing page for your manifesto or a star trial page for actually getting into your product if you're more product led versus content driven, although a lot of people start with a manifesto and get them into the product, that's fine too. 10 to 20% is the first metric that I look at on exactly from going from traffic to leads. And this really matters because it tells me, are you going after the right people? And is your messaging right? Is your manifesto right? Are you hooking them in the right way? Are you targeting the right ICP? Like all those things come into play, otherwise your ICP is broken and your messaging is broken. The second metric that I look at is out of those people that maybe downloaded your manifesto or got into a trial, how many of them actually became real sales opportunities or real activated trials? Now real sales opportunities, right, just because someone downloads your manifesto doesn't mean they're going to get into a sales call but when they do, that means that, oh, like the manifesto's working and they're actually the right people and they're like, oh yeah, I wanna spend more time with you and learn more about your solution. Similarly, if you're more product led, let's just say the manifesto leads into the product, if they're dialing the manifesto and then they're actually getting into the product and then they're actually activating into the product, they're actually using the product, that means that there's a real opportunity here. And so the biggest thing I look at as metric number two, is what percentage of people of the leads are actually becoming opportunities? And typically for this, we see 10%, 10% of people actually say like, hey, like this is a real thing. And that's like, it feels low, which is why getting a lot of traffic and getting a lot of leads is important, and this number can be higher in the beginning, but as you scale, it can start to go down. But 10% is a pretty good benchmark where out of the people that are like just kind of browsing, 10% are like, oh my God, I'm really interested, this is totally it. Like, let's talk to sales or let's really use the product. Otherwise you'll have to kind of get back at them. Now, before I go to the third one and this is a very important one and it looks obvious, but it's actually not obvious, there's some nuances here that I wanna tell you about, before I go into the third one, let me just pause here for a second. Are you starting to see the power in this? I know that there are a 100 different metrics and I know that you're probably tracking all of them or none of them, or you are tracking them and you're not looking at them. But remember what I told you in the beginning, what matters the most is when you are looking at three or four metrics, and it's telling you what to focus on next as a team, what to fix, what to iterate, what to double down on so that you can accelerate the growth of your business. And that's why I love these three metrics, because when you look at these, you could actually make decisions on what to improve on, what to iterate on. And that is the most important thing. If you're starting to see the power in this, can I just get a yes in the comments below? Also smash our like button for the YouTube algorithm. It really likes it when you do that and so do we, and my team, we put a lot of love into these videos. Also, if you're in this stage where you're trying to figure out, how do we generate traffic? How do we generate leads? How do we nurture them? How do we turn them into opportunities or trials? How do we convert them to revenue? Then what you're doing is building a proper go-to market strategy. So if you're in that stage where you're building a go-to market strategy, then I invite you to check out my SaaS Go-To Market Coaching Program. Inside of the program, I work one-on-one with you to actually help you accelerate the growth of your SaaS business by building a scalable and an unstoppable go to market strategy. You don't have to go anywhere right now, I'll link to it below, I'll tell you more about it at the end of this video, but right now, let's go to principle number three which is the important one. Are you ready for this? The important part of this one is out of these people that you're having sales conversations with or they actively use the product, you now have to ask yourself, what percentage of them are you winning? Meaning how many of them are converting to revenue? And again, typically we see 20%. 20% of the people actually that get into a sales opportunity will close to revenue. Don't ask me why, this is the benchmark, this is the benchmark, this is the average. Will it be higher in some cases? Yes. If you're getting hot inbound leads, they can be up as high as 50%. If you're in the super early stages, they might be 70%, if you're just convincing your friends to buy your product, they may be a 100%. But as you scale, it'll come down to 20%, so you wanna make sure you're hitting that benchmark. And what's most important about this piece is it's very possible that you are doing a lot of activities, you are generating leads, they're looking at your manifesto, they're generating trials but they're not converting to revenue. And what that typically means is that is either your sales process is messed up or you're generating the wrong leads. Any one of these things could be wrong which is why this third metric matters the most because ultimately no one cares if you generated 5,000 likes, what people care about is did you generate revenue, like for you yourself? That's what matters the most. And so you wanna see what this conversion rate is, and that's the third metric that matters the most. And the reason this is so powerful is because when you start to measure the conversion of the traffic to the leads and you have a benchmark for that, when you have the leads to the opportunities and trials and you have a benchmark for that and you have the opportunity as trials to the revenue and you have a benchmark for that, what you're able to do is look at it every single day, every single week as you're executing on your go-to market strategy, and you're able to say, and look with your team on saying, hey, do we have a closing problem? Do we have an ICP problem? Do we have an activity problem? Like you can actually make decisions on what's broken based on these three metrics. And this is all that matters, because this is what really tells you, are you headed for success or not? Because if you're not getting the leads and you're not converting, that means there's something wrong with your traffic. If you are converting but they're not converting to revenue, if they're converting to opportunities, that means maybe there's something wrong with your sales process or your traffic. So you can make decisions on what to do, and that's why these three metrics matter so much. Now the last piece I wanna leave you with is now that you know these three metrics, you're like, well, okay, cool TK, we're measuring these, What do we do now? Like, how do we actually increase the number of leads or how do we make sure that we're getting the right leads? Or how do we actually increase our win rates? These benchmarks, we're nowhere close to that? Well, first of all, this is good, because now you're looking at what to measure what matters, and now you can actually say, cool, how do we fix these? These are the three things to fix. Because if we fix this, we have a great business. This is where your go-to-market strategy comes in. There's three big pieces to a successful go-to-market strategy, I call this your unstoppable sales funnel. The first one is your ICP. The second one is your manifesto, this is your messaging. And the third one is your Broadway Show. And this is your consistent set of sales and marketing activities. So the ICP determines who you're really targeting, and then the manifesto is built off of the ICP to say how to target them, and the Broadway Show is the set of things you run consistently to bring your manifesto to your ICP. And this is what I essentially call "your unstoppable sales funnel". And it's a very, very scalable way to grow a SaaS business. And when you implement and incorporate these three pieces, you are able to impact these metrics. And if one of them is broken, you'll be able to figure out which one of these you actually need to iterate on. This is exactly what I work on with founders inside of my SaaS Go-To Market Coaching Program. We've had over a 100 SaaS companies go through the program, we've had amazing success stories, we've actually shared them in this YouTube channel some of the best success stories, you can look at the playlists below, but the real thing that we do in this program is build out your proper SaaS go-to market strategy, help you track these metrics and iterate on it and execute on it so you can accelerate the path to your next stage of growth. So if you're interested in working together to actually build out your scalable go-to market strategy, execute on it, look at these metrics and work with me to actually iterate and go faster and reduce execution risk, then I encourage you to go to tkkader.com/gtm. tkkader.com/gtm. When you go to that page, you'll get all the details of exactly how the program works, you'll be able to fill out a small application form and then hop on a call with us. When we get on the call, we'll look at exactly what you're struggling with, we'll figure out if we can help, and if we can, we will start working together. It's as simple as that. Hitting 30,000 subscribers has been a milestone, incredible milestone, and even bigger milestone for me is the over 250 founders that I get to work with internally where we actually take the principles we teach in this YouTube channel and apply it and work together to iterate. That's been like the most rewarding thing. And so if you want to get in on the inner circle here and really work together to accelerate the growth of your SaaS business, you want to go into implementing these principles, go to tkk.com/gtm. I'll also link to it below. Also, if you got value from this video, please smash out like button for the YouTube algorithm. It really loves it when you do that. In case you're noticing that I'm sweating, it is really hot in here because I don't think my AC is working and it's like a hundred degrees in Texas. So I'll have to look into that right after this. But more importantly, if you got value from this, smash that like button for the YouTube algorithm, it really likes it when you do that. If you have a fellow founder, if you're part of a community of other SaaS leaders, please share this video with them, it'll just mean the world to us. My team and I put a lot of love into these videos. I drop an episode like this with actionable strategies and tactics on how to grow your SaaS business every single Sunday. So be sure to hit that subscribe button, that bell icon that you'll get notified every single time I drop an episode. If you wanna work together and actually implement these principles I teach in this channel and accelerate your growth and reduce execution risk, you're gonna have to do this alone in any way, might as well get coaching and actually follow our framework that's proven and go to tkk.com/gtm. And lastly, remember, everyone needs a strategy for their life and their business, when you are with us, yours, it's gonna be unstoppable. I'm TK, and I'll see you in the next episode or inside of the SaaS Go-To Market Coaching Program. See ya. (beep) All right. My hair looks weird, but we're gonna do this. (laughing) Okay.