One of the hardest things for new B2C SaaS builders in my opinion is not knowing what metrics / KPIs to focus on. We hear it all the time... "you must A/B test," "you must be making data driven decisions," and of course "if you aren't tracking it, you have no clue if you're improving" -- So, what are the top five KPIs to focus on in your first year?
1️⃣ First Time Downloads / Sign Ups
Yes, this one is obvious, but critical. Most SaaS start ups never see a single download / sign up. You need to be doing everything in your power to get those first users & grow from there. Tell everyone you know about your project, build in public, get your name out there and get early adoption traction.
2️⃣ Trial Start Rate
Specific to SaaS not on a freemium model, but, you need to be making sure you have a strong trial start rate. Before your paywall make sure you've emphasized benefits & how your SaaS will solve user's problems. If you do this well, you should see a nice trial start rate!
3️⃣ Trial Rate Conversion
Directly related to your trial start rate, but, are those that are giving your SaaS a try sticking around? If not, you need to spend a ton of time understanding why. Is it just low intent traffic browsing what you've got, or is your product simply not solving user's problems?
4️⃣ BONUS: Average Time to Trial Drop
Let's be real, not every trial start will convert. Matter of fact, most probably won't, but how long is it taking them to drop? If they're dropping on day one is it a product issue, training issue, or something else? If they're dropping right before the trial converts maybe your pricing isn't right. You can learn a lot by tracking how long it takes for users to cancel their trial.
If you're building B2C SaaS, what are the top-three KPIs you kept an eye on in your first year? Drop your insights below! 👇