[CXL Live 16] SaaS Optimization - Effective Metrics, Process and Hacks by Stephen Pavlovich
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Stephen will be talking on SaaS optimization strategy, including: - The data, insight and metrics you need to track to identify opportunity - Flow optimization: from landing page to trial, usage, purchase and retention - Problems and opportunities: e.g. how do you test a landing page when the sale happens 14 or 30 days later? How do you manage testing across multiple KPIs simultaneously? How do you understand and segment your key product offering?
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[CXL Live 16] SaaS Optimization - Effective Metrics, Process and Hacks by Stephen Pavlovich
- 1. SaaS Optimization Effective Process, Metrics and Hacks Stephen Pavlovich Conversion.com 31 March 2016
- 8. Inactive trial Active trial Lapsed trial + no sale Current customers Lapsed customers
- 10. “If you could make one change to the product, what would it be?”
- 17. +19%
- 18. Free trials do not pay the bills. @conversion_com
- 21. Don’t convert to trial before the user is sold on the product. @conversion_com
- 24. “But how can you optimize for sales with a 14 or 30-day trial?”
- 25. Stage Day Phase Focus Goals KPIs 1 1 Acquire Landing page Sign-up page Trial UVs Trials SaaS metrics
- 26. Stage Day Phase Focus Goals KPIs 1 1 Acquire Landing page Sign-up page Trial UVs Trials 2 1–2 Activate Product Email Active user Product usage SaaS metrics
- 27. Stage Day Phase Focus Goals KPIs 1 1 Acquire Landing page Sign-up page Trial UVs Trials 2 1–2 Activate Product Email Active user Product usage 3 14–30 Monetize Plans page Checkout Customer Sales MRR SaaS metrics
- 28. Stage Day Phase Focus Goals KPIs 1 1 Acquire Landing page Sign-up page Trial UVs Trials 2 1–2 Activate Product Email Active user Product usage 3 14–30 Monetize Plans page Checkout Customer Sales MRR 4 <90 Retain Product Email LTV Churn SaaS metrics
- 29. Stage Day Phase Focus Goals KPIs 1 1 Acquire Landing page Sign-up page Trial UVs Trials 2 1–2 Activate Product Email Active user Product usage 3 14–30 Monetize Plans page Checkout Customer Sales MRR 4 <90 Retain Product Email LTV Churn + – Upsell Product Email Increase revenue Negative churn ARPA SaaS metrics
- 30. Stage Day Phase Focus Goals KPIs 1 1 Acquire Landing page Sign-up page Trial UVs Trials 2 1–2 Activate Product Email Active user Product usage 3 14–30 Monetize Plans page Checkout Customer Sales MRR 4 <90 Retain Product Email LTV Churn + – Upsell Product Email Increase revenue Negative churn ARPA + – Refer Product Email Refer-a-friend Virality Viral coefficient SaaS metrics
- 31. Four options for KPIs
- 32. Stage Phase 1 Acquire 2 Activate 3 Monetize 4 Retain + Upsell + Refer #1 Visit > Trial
- 34. Stage Phase 1 Acquire 2 Activate 3 Monetize 4 Retain + Upsell + Refer #1 Visit > Trial ⊕ Quick to test ⊖ May not correlate to sales
- 35. Stage Phase 1 Acquire 2 Activate 3 Monetize 4 Retain + Upsell + Refer #2 Visit > Sale
- 37. Stage Phase 1 Acquire 2 Activate 3 Monetize 4 Retain + Upsell + Refer #2 Visit > Sale ⊕ Better indication of revenue ⊖ Increased test duration
- 38. Stage Phase 1 Acquire 2 Activate 3 Monetize 4 Retain + Upsell + Refer #3 Visit > Qualified trial
- 40. Stage Phase 1 Acquire 2 Activate 3 Monetize 4 Retain + Upsell + Refer #3 Visit > Qualified trial ⊕ Quick to test ⊕ Closer correlation to sales ⊖ Need to develop reliable lead scoring model
- 41. Stage Phase 1 Acquire 2 Activate 3 Monetize 4 Retain + Upsell + Refer #4 Visit > Active user
- 42. 4: Visit to active user
- 43. Stage Phase 1 Acquire 2 Activate 3 Monetize 4 Retain + Upsell + Refer #4 Visit > Active user ⊕ Quick to test ⊕ High correlation to sales ⊖ Action needs to happen within 1–2 days
- 44. In SaaS conversion optimization, test through to active trials. @conversion_com
- 47. The “a-ha” moment is the tipping point for retention. @conversion_com
- 48. Impact of churn on growth
- 49. Impact of churn on growth
- 50. Impact of churn on growth
- 51. Fix churn before acquisition – it will flatline growth. @conversion_com
- 53. “Knowing this allowed us to do a lot to get new users to their “a-ha” moment quickly.” Chamath Palihapitiya
- 59. Deliver the “a-ha” moment ASAP – even before the user signs up. @conversion_com
- 68. Use simple Q&A to sell to and segment your audience. @conversion_com
- 72. $6.99 $9.99
- 74. “How do we increase profit?”
- 75. 1. Increase the price of the $6.99 bottle. 2. Decrease the price of the $9.99 bottle. 3. Change the prices to $6.97 and $9.97. 4. Offer 10% off if you buy three. 5. Something else…
- 82. Revenue +40%
- 83. Free $0/month Basic $25/month Pro $100/month Enterprise $300/month ✔ Feature 1 ✔ Feature 1 ✔ Feature 2 ✔ Feature 3 ✔ Feature 1 ✔ Feature 2 ✔ Feature 3 ✔ Feature 4 ✔ Feature 5 ✔ Feature 1 ✔ Feature 2 ✔ Feature 3 ✔ Feature 4 ✔ Feature 5 ✔ Feature 6 ✔ Feature 7 ✔ Feature 8 Get started Get started Get started Get started
- 85. Sales +100%
- 86. Test “decoy” price plans + volume-based pricing. @conversion_com
- 87. Stephen Pavlovich Founder & CEO E: stephen.pavlovich@conversion.com M: +44 7970 428029