SaaS Dashboard Playbook
Software as a Service or SaaS dashboard is a powerful business tool that can provide a quick snapshot into the health of your business. Right from reducing churn to increasing customer engagement and finally revenue growth, ambitious businesses can analyse all touch points in no time through the dashboards.
In the last decade, SaaS market has experienced tremendous growth and expansion. With innovation and new products emerging in the markets, competition has never been so fierce. Whether it’s an IT report or company finances that you want to dive into, a clean interactive screen is much better than complicated spreadsheet analysis. Dashboards maintain awareness of key metrics, how they interact and how to improve them for a better performing and profitable business.
So here’s a list of 18 dashboards that can help you get control of your SaaS business. It can be divided into five categories:
All the sales and forecast related reports from different dimensions - customers, geography, products and platform
Dive deeper into pricing, churn and sales metrics that will enable executive leadership team make smarter decisions.
The necessary insights about a customer - from the time they become lead to the final(or repeat) purchase are tracked here.
The most important dashboards for tracking the marketing strategies of the company are included.
This category contains two of the most important financial dashboards - Profit & loss and the cashflow report.
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Executive Dashboards dive into details that are SaaS Business specific. They cover the hidden aspects of SaaS industry and help executives make smart decisions related to dynamic pricing of products, prevention and prediction of churn, optimized channel sales operation etc. They help identify patterns and actionable insights from large datasets that can help design teams optimize their product features, marketing strategies and workflow.
SaaS Pricing Analytics
Pricing is the most important aspect of a business. In spite of its multiplicative effects on revenue, pricing is often ignored and receives least attention. In today’s market, where there is constant volume and pricing pressure, a right pricing strategy is essential to remain in the game. The pricing analytics dashboard answers the following:
1. What is the effect of different price points on revenue and profit margins?
2. How are different channels and regions performing? Is ASP appropriately optimized?
3. What are the most liked product features? Are we cashing in on them?
4. How is the LTV and CAC trending? Are acquisition costs delivering desired value?
SaaS Churn Analytics
Churn is a key metric used for percentage of customers who have discontinued your service. Keeping a close eye on retaining ‘at risk’ customers is crucial to revenue given that it costs 5x more to acquire new customers. The Churn dashboard answers the following questions:
1. How is churn varying across geographies? What is the effect on revenue?
2. What are the top reasons for churn? What changes in the current processes can reduce churn?
3. How are different user segments engaging with the product? (Website, features etc)
4. What are the predicted churn rates for the next 6 months?
SaaS Multi-Channel Analytics
Technical developments in the last decade have transformed the sales process for software products. Although digital marketing is gaining a lot of traction, many organizations fail to upkeep themselves with effective digital strategies. To enable access to a broader market, SaaS organizations need to embrace multi-channel sales to effectively target and engage consumers. This dashboard helps in the following:
1. Compare key SaaS metrics for direct sales vs channel sales.
2. Keep track of revenue generated by sales partners and grow businesses sustainably.
3. Tracking revenue generated by sales partners to grow business sustainably.
4. Tailor marketing efforts based on buying persona and channel type.
SaaS Product Usage Report
For a product centric company, the growth majorly depends on product and its usage. Product Usage Analytics is a way of critically analysing how users interact with a product. Unlike surveys, its not dependent on what customers write in a feedback form or interviews but the insights are majorly derived from meaningful product user interactions online. Product Usage team can thus rely on this data to make important decisions. The dashboard answers the following:
1. How engaged users are?
2. Are users returning after signup?
3. Who are using my product the most and the least?
4. Which features are most popular?
Sales KPIs are considered as the most important KPIs for any business. Sales dashboards help the managers and other executives of the company to monitor the sales and profits from different sources at a single place, helping them in setting the sales targets for the team. Without accurate data at fingertips, further demand forecasts and resource planning will be difficult for the sales team. The reports in this category provide a detailed analysis of the revenue, thus providing deeper insights for the team to work on
SaaS Sales Forecasting Dashboard
With the advent of technology, sales forecasting has become a less complicated, but a more accurate process. Only with an accurate demand forecast, the company can plan its sales and marketing strategies for the year. The dashboard answers the following questions:
1. What is the total forecast for the selected time period?
2. What is the accuracy of the prediction?
3. How are the actual sales and the forecast value changing over the selected time frame?
4. How is the forecast value changing with time across regions and categories?
Subscription Sales Analysis
Subscription based businesses are gaining a lot of traction amongst buyers. From retail products to software services, the subscription model is attractive for its flexibility and hierarchical costing options. Having a recurring relationship with customers can help companies understand their priorities and willingness to pay better. This dashboard answers the following questions:
1. Are my subscription revenues increasing with time?
2. What is the trial to conversion rate? Is the free trial helping us get customers?
3. Which plan attributes to the highest MRR and why? Are there any particular features that customers like?
4. At what stage is a customer lost?
No business can reach heights without a steady stream of happy and satisfied customers. Understanding the customer needs helps in serving them better. Customer insights dashboards monitor the current customer acquisition trend, retention and churn rates and look at the various possibilities of customer segmentation. It could help draw strategies that could lower the acquisition costs, raise the retention rates, provide streamlined and more effective customer service, thereby increasing revenue and profits.
Customer Segmentation Dashboard (RFM Analysis)
RFM analysis is a technique for segmenting the consumers based on the time of their last purchase, their purchase frequency, and how much they have spent. It has the following views:
1. Customer Segmentation Dashboard gives the Cohorts identified through the analysis.
2. Categorical Customer Segmentation Report provides details of categories.
3. Customer Segmentation Plot shows the distribution of customer cohorts.
4. Geographical Customer Segmentation dashboard tells about how customer segments are scattered geographically.
Customer Retention Analysis
The Customer Retention Dashboard acts as a basis to arrive at an appropriate customer retention strategy for SaaS businesses. This dashboard tracks the customer distribution across different product offerings and if these products and their placement is successful in retaining our customers or not. This dashboard helps answer the following questions
1. Is the current product plan attracting customers?
2. What is causing churn and downgrades?
3. Which plan is attributed to the highest MRR and why?
4. What was the revenue earned from every cancelled customer? Did it fetch us loss or profit?
Customer Support Analysis
Customer Service Dashboards are a great way to generate 360-degree customer view and improve the way businesses offer support services to clients. These dashboards can help keep customer service levels high and prove to be a backbone for customer retention. The Customer Support Analysis dashboard answers the following questions:
1. How is my support team performing in real time?
2. Are customers satisfied? What does the feedback look like?
3. Is the team efficient in solving customer problems? Are there any hiccups in the process?
4. How much is being spent on support services?
Customer Cohort Analysis
Cohort Analysis helps the business identify the patterns and changes in consumer behavior. It gives insights on when customers leave, when they purchase more and whether the current marketing strategies are working or not. It answers the below questions:
1. How many customers continue to be active users in the next 12 months?
2. Are new customers coming back more often than existing customers?
3. Can the lifetime value of a customer be predicted?
4. How is customer behavior with loyalty programs? How are the discount-based cohorts contributing to sales?
At its core, a marketing dashboard is the measurement of efforts against company goals. With the increase in importance of inbound marketing, more focus has been given to social media analysis and website analysis. In addition to that, SaaS marketing KPI’s of lead acquisition, user engagement, its associated costs and revenue have been dealt with in greater detail.
This dashboard contains the complete end-to-end information required to plan a marketing budget and forecast its impact on sales and most importantly, the ROI. It also lets the business analyze where it went wrong with its current marketing strategy. The simulation part of the dashboard helps businesses predict the future return due to their spending on various channels. This is crucial for decision making.The dashboard answers the below questions:
1. How is the return on the current marketing investments?
2. How does change in budget impact sales?
3. Which sectors is the company overspending/ underspending?
4. How profitable is the company over the year?
Coupon Trends Analysis
The Coupons dashboard monitors the performance of coupons – an important marketing tool for SaaS companies. It helps in analysing the effectiveness of the current coupon strategy, thereby providing insights for making future plans. It also tries to identify opportunities for the business to increase sales by attracting more customers. The Coupons dashboard answers the below questions:
1. Is the current coupon strategy successful?
2. Is Couponing growing or slowing?
3. Which coupon is doing the best?
4. Is the discount given too much or too little?
Social Media Marketing Analysis
Social Media has become one of the most powerful medium for businesses to connect with the audience and build their product, increase the sales, and drive website traffic. In recent days, social media and other inbound marketing techniques have grown to occupy a large chunk of the marketing plans of the company. The Social Media dashboard has the following three views:
1. The Overview dashboard, as the name suggests, gives an overview of the current social media presence of the company.
2. The Conversions dashboard tracks how user interest gets converted to transactions and generates revenue.
3. The Customer insights dashboard provides insights that help in identifying the preferences of the target audience.
The website analysis dashboard helps businesses monitor the traffic and talks about the KPIs that decide the success of current online marketing strategy. It answers the below questions:
1. Source - From where did leads hear about us - the path of traffic?
2. Which are the top keywords?
3. How is the traffic on site?
4. Are the ad campaigns effective? What about Industry competitiveness?
5. Is the customer happy with the website – design and content?
Lead Generation Report
It is critical to generate leads for the business. It generates revenue and raises the number of organic customers. This dashboard monitors the entire journey from a lead to a customer. It also tracks the cost of acquisition of a customer and compares it with revenue to justify the former. It answers the below questions:
1. What is the customer conversion rate?
2. Which are the most profitable sources of lead?
3. When did the acquisition cost go over the revenue? When was it the least?
4. Which regions, customer roles and marketing sources are the major contributors to revenue?
Email Marketing Analysis
Emails are one of the most cost effective marketing tools that allow the business to connect personally with their target audience. This dashboard compares the current email campaigns of the business to draw insights that could help them plan better strategies for the future. It answers the following questions:
1. Does the email design and content resonate with the audience?
2. How much revenue does email campaigns generate?
3. Is the current cost of campaigns acceptable?
4. Which campaigns are performing the best?
5. Has the total number of subscribers increased with time?
No business can survive without proper financial management.F unds are needed for the day-to-day operations, expansion plans and for all other goals of the business. Financial dashboards help to track expenses, sales and profits in detail and helps the company to have an effective cash management system. The dashboards in this category track all the relevant finance related KPIs , thus assisting the business in taking important financial decisions.
Cash Flow Report
This dashboard monitors the amount of cash leaving and entering the business. It splits the entire activities of the business into operating , investment and finance. The cash inflow and outflow are monitored based on these categories. The dashboard also has a simulation tab that helps in budget planning.It answers the below questions:
1. How is money distributed across operations, investing and financing?
2. Is the cash flow positive?
3. What is the Year-over-Year percentage growth in cash flows?
4. How to plan a budget?
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