How to design and optimize SaaS funnels?

#StartupBasics | Series by Insights Alley (Hosted by Arun Verma)

S01E15 – How to design and optimize SaaS funnels?

Guest: David Skok, General Partner at Matrix Partners

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How to scale after product market fit?

#StartupBasics | Series by Insights Alley (Hosted by Arun Verma)

S01E14 – How to scale after product market fit?

Guest: Wade Foster, Co-founder & CEO at Zapier

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Understanding SaaS Metrics

#StartupBasics | Series by Insights Alley (Hosted by Arun Verma)

S01E07 -Understanding SaaS Metrics

Guest: Nick Franklin, Founder & CEO at ChartMogul

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In this episode of #StartupBasics, we discussed:

– The Story of Nick from his early career to Zendesk & now ChartMogul.

– Metrics to track in very early stage of your startup: How many people are signing up? Are they logging in? Are they coming back to the product? How often they login back?

– Metrics vs KPI

– Different type of metrics buckets reflecting different parts of your business:

  • Product Usage Metrics
  • SaaS Business Metrics
  • Financial/Accounting

– The upside of using subscription analytics tools for your SaaS Business metrics

– MRR & ARR:

  • Understanding MRR & ARR in detail
  • Importance of MRR
  • Two ways to think of ARR
  • How to calculate it?

– The number of Customers/Accounts & ARPA/ARPU:

  • How to calculate it?
  • It’s significance
  • How segmentation brings more meaning to your metrics

– CAC:
The best customer acquisition method is by word of mouth

– LTV:

  • Understanding Customer Lifetime Value
  • How to calculate it?

– Customer Lifetime Period & Payback Period

– Churn:

  • Understanding Churn & Churn Rate
  • Types of Churn

– Benchmark for these Metrics
Matrix Partner’s Annual Private SaaS Company Survey

– CAC to LTV Ratio:
David Skok’s Lecture on CAC to LTV Ratio

– Health & Sustainability of your SaaS Business

  • Cash in the Bank, Burn Rate and Runway
  • Churn Rate & SaaS ceiling

– Overlooked Metrics

– The relation between SaaS business metrics & product usage metrics.

Resources mentioned:

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Pricing Strategy for B2B & B2C SaaS startups

#StartupBasics | Series by Insights Alley (Hosted by Arun Verma)

S01E06 – Pricing Strategy for B2B & B2C SaaS startups

Guest: Patrick Campbell, Co-Founder & CEO at ProfitWell

 

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In this episode of #StartupBasics, we discussed:

– The Story of Patrick from his early days to Price Intelligently & now ProfitWell.

– Importance of Pricing strategy in your business.

– Free Trial vs Freemium
Freemium is not a Revenue Model, it is instead an acquisition method.

– What type of Pricing strategies are there? Problems with them & which is the best strategy?

  • Cost+Markup
  • Competitive Benchmarking
  • Value Metric based pricing

– How to find the Value Metric?

  • We are able to measure value now that we are creating for our users like we were not able to do 10 years ago.
  • Thinking of value metric in very basic fundamental things.
  • How to find your value metric – Step by step process, with an example for a CRM.

– How to find the exact price point in early-days?

  • Understand that human beings think of value on a spectrum.
  • What questions to ask to find out the right initial price point?

– How to update pricing?

  • Pricing complexity & how often?
  • Your price is the exchange rate on the value you are providing to your customers.
  • Probably you are not great at pricing right now.
  • Treat pricing as the growth lever as it deserves to be treated as.

– What to do with old customers with old pricing?
What not to do? and what to do?

– About One-time fee, Add-on and service fee from your customers.

– How to make kick-ass pricing page?

  • Think in terms of user persona that come on your page.
  • Align everything based on the different buckets of different personas
  • Self-serve vs Contact Sales: Understand the unit economics of each plan/persona pairing.

– Pricing Localization: How to do it? with examples

– What to test and optimize in your pricing strategy?

  • Don’t A/B test your pricing, unless you are Amazon.
  • The pricing strategy of Drift vs Intercom

– What to test and optimize in your pricing strategy?

– Reflecting brand in your pricing

– How to start now when you did not any of this stuff from starting?

– Pricing of ProfitWell itself

– Pricing is a Process, not a magic bullet.

 

Resources mentioned:

 

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The Philosophy of Jobs to be Done theory/framework

#StartupBasics | Series by Insights Alley (Hosted by Arun Verma)

S01E03 – The Philosophy of Jobs to be Done theory/framework

Guest: Alan Klement, Author of “When Coffee and Kale Compete

 

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In this episode of #StartupBasics, we discussed:

– Jobs to be Done or JTBD according to Alan.

– Famous example explaining JTBD theory: McDonald’s Milkshake’s Job to be Done by Clayton Christensen

– Jobs remain the same, the products we hire to do those jobs change. It’s true but much more complicated than that – Alan’s viewpoint and maybe we need to rethink that.

– JTBD in making software products. Jobs Data vs Usability/User Experience Data.

– While making software products, how to find jobs that people would hire your product to do?: Feedback Loops, Catalysts, Constraints.

– Why User Persona is flawed, not with their intent, but as a model. Behaviour & Motivations are demographic agnostics.

– Replacing User Story with the Job Story: When ____, I want to ____, So I can ____
Another way Alan is using Job Story is making them for products that don’t exist.

– How to do Switch Interviews or Jobs To Be Done Interviews. Difference between Switch Interview & Customer Development Interview.

– How to prioritize for multiple Job stories people are hiring your product for?

– Jobs to be Done is not a series of steps to be done, but a theory to understand how the market operates, what causes consumers to buy & use products.

– What is JTBD and what it is not?

Resources mentioned:

  • Book: “Sprint: How to Solve Big Problems and Test New Ideas in Just Five Days” by Jake Knapp, John Zeratsky & Brad Kowitz
  • Book: “When Coffee and Kale Compete: Become great at making products people will buy” by Alan Klement
  • Book: “Competing Against Luck: The Story of Innovation and Customer Choice” by Clayton Christensen, David Duncan, Karen Dillon, & Taddy Hall
  • Blog: Jobs to be Done Medium Blog
  • People: Steve Blank (for Customer Development)
  • People: Clayton Christensen (for Jobs to be Done)

 

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