SaaS Dashboards: Explanation & Examples
- by Tech Today
- Posted on January 12, 2023
Are you seeing your business growing? Do you have any challenges to your growth? What are the areas that require improvement? SaaS KPI dashboard answers these questions quickly and will give you an overview of the health of your business and your wealth.
What exactly is what is a SaaS measurement dashboard?
In the case of measuring SaaS expansion, KPI and metrics should be your primary things to take a look at. Traditional numeric records require a lot of time, energy, and concentration to analyse. SaaS analytics dashboards are an efficient tool that analyzes, tracks and presents KPIs and metrics in a readable and visual manner such as widgets, charts, graphs, lists and lists. The most significant benefit of this dashboard is its ease of use.
Dashboard provides key indicators from finance, sales Customer support, sales marketing and customer support all in one location so you can identify issues and address them in the initial phases. It can even be described as an launching pad for strategic choices.
What are the reasons you require an SaaS dashboard?
“Metrics are designed to be used in the context of doing, not just for looking. Don’t measure simply because you could. Measure to gain knowledge. Measure to correct.” Stijn Debrouwere
Based on the data you gain using the Analytics dashboard you are able to determine clear priorities and goals for your company. To be more precise you can concentrate on goals and accomplish them quicker by resolving issues when they are in the beginning.
Your team should not remain in the shadows. If they have login to the dashboard they can can see the impact they have on the business’s growth and remain motivated.
A common mistake founders make is to share with their employees just a few general statistics once a year (like MRR and Churn). This doesn’t provide employees a clear picture of what’s right or incorrect. Additionally, they aren’t able to get an understanding of the causes and result. It is important to keep your eyes on them in order that if they observe any change in important metrics, they will be able to investigate the issue and provide solutions.
Dashboards come in many dimensions and shapes. However, not all might be able to meet your requirements and determine your growth-levers. Aren’t sure which dashboard is required to run your SaaS company? Do you want to know how to build one? Are you unsure of what is important the most? Let us help you help you figure it out.
Different types of SaaS dashboards
The majority of businesses do not know the purpose that their dashboards should be used for and to create a dashboard which serves multiple functions. Most often, they end up with unclear goals and goals.
To begin think about these three types of SaaS dashboards for defining your requirements:
Analytical dashboards are utilized to study trends and provide deeper insight into what has happened within the company, and the kind of changes you can implement in the future. They are typically used by managers of product and business analysts.
Strategic dashboards are mostly used by CEOs, with a concentration on the top KPIs of the company. They show the performance of the business in a set period of time such as the past month and quarter or even the entire year.
Operational dashboards serve as a source of employees’ awareness of the day-to-day processes of each department in real-time. They aid in identifying issues before they become a problem.
The most important metrics to monitor
An SaaS metrics dashboard is only as effective as the metrics it contains it. How do you decide which metrics to include? Let’s look at what metrics are most important (aka essential) for SaaS companies.
In 2013, Zendesk investor Christoph Janz – shared his ideas on the most useful metrics SaaS companies must monitor. I believe they’re great for a start. Christoph offers the SaaS metrics template free in the form of an Excell spreadsheet. This allows small Saas businesses to gain an insider’s view of their business.
David Skok, a serial investor and entrepreneur, designed the very identical SaaS dashboard. It’s more intricate and has data for businesses that employ either monthly or annual contacts and sales calculations. In contrast, Christoph Janz’s SaaS dashboard is specifically focused on MRR and an approach to sales that is low-touch.
Important metrics for SaaS dashboards can differ depending on the type of product. Summarizing the views of the investors as well as SaaS CEOs I would like to provide metrics for the dashboard that reveal the underlying health of businesses and accelerating the growth of the company.
MRR (Monthly Recurring Revenue) The name says it all It’s a revenue that is expected to fluctuation from month to month.
CAC (Customer Acquisition Cost) The cost average for a newly acquired customer.
LTV (Lifetime Value) The amount that the average customer brings to your business over the lifetime that the client (before they become churned).
LTV/CAC Ratio: Comparing value of a client over the course of their lives against the price of purchase for that particular customer will help you figure out how much money you can spend to acquire them.
ARPA (Average Revenue Per Account): The average revenue you generate from each customer (monthly/quarterly/yearly).
Churn: The proportion of customers who decide to cancel the subscription (calculated per month).
Retention Loyalty: The percentage of loyal customers (calculated every month).
Expansion: The monthly income generated by existing customers. For instance, any predicable sales, add-ons or even upgrades on existing accounts result in expansion.
Key dashboard metrics may be altered for various purposes. SaaS CEO dashboards can include additional metrics like the New Contract Value (sales outcomes), Pipeline, Customer Health. However, keep the information simple. Don’t try to include too numerous details. The more simple, the more efficient.
This list of important metrics is the basis for a great SaaS analytical dashboard. It also helps you identify the areas of pain. This means that you’ll be able to analyze a problematic metric into more specific ones.
Are you seeing your business growing? Do you have any challenges to your growth? What are the areas that require improvement? SaaS KPI dashboard answers these questions quickly and will give you an overview of the health of your business and your wealth. What exactly is what is a SaaS measurement dashboard? In the case…