Whether your current growth goals are related to driving awareness, increasing your free-to-paid conversion rate, improving long-term product engagement or reducing churn, identifying the right KPIs (key performance indicators) to use to track your progress and measure success is mission critical.
That said, choosing the right KPIs is also tricky: it's not as simple as looking around and copying what other companies are doing. What worked for this or that other SaaS company, isn't guaranteed to work for your unique customers and your unique product.
So in this Q&A, we answered tough questions on how you should go about deciding what KPIs to focus on for your SaaS, including:
- How much company effort should go to lowering churn, vs. focusing on acquiring new customers
- When it's relevant to look for & rely on industry benchmarks when evaluating your own SaaS company's performance
- Tying the strategic work you need to do, to KPIs your stakeholders care about (and the difference between "Primary" and "Secondary" KPIs)
- Why learning from your successful customers is more important that learning from those who've churned
- The risks of focusing too much on acquisition vs engagement KPIs