Want to know how it feels
To be taking time out, turn it all about
We're taking hold the driving' wheel
- Time to Provision: Measure in days the time from when the customer subscribes to when they have access to all the SaaS environments promised. The smaller the number, the more positive the influence.
- Time to Value: I'd measure this in days from the completion of the provisioning to the time of first value use or "go live" date. The quicker the better.
- Initial Adoption: What is the rate of use by the initial individual users at the time of first value? I'd measure this by transaction numbers or usage (daily, monthly, and/or frequency). We're simply setting a baseline here to measure growth or contraction during nurturing.
- Customer Satisfaction: This comes down to a basic yes or no question: would the initial set of users recommend your service at the time of go live.
- User Adoption: growth in usage - more transactions, more users
- Feature Adoption: do we see new types of transactions? We're looking for growth in use case solutions or in the use of additional features included in the applications.
- Capacity Utilization: how many seats a customer is using relative to those they are paying for in the subscription? the higher the ratio or percentage here, the better.
- Business Results: measurable gains that relate to the outcomes desired by the SaaS customer.
- Escalations: the number of open inbound requests, the number of closed requests, and the time to resolution for closed requests. The smaller the numbers here, the more positive the influence.
- Customer Feedback: The same deal here as with Customer Satisfaction, just a different point in the lifecycle. This comes down to a basic yes or no question: would the initial set of users recommend your service at the time of go live.
In addition to the metrics above, I would also measure these outcomes:
- Renewals: both in terms of dollars and number of customers who extend their subscriptions
- Growth: both in terms of dollars and number of customers who subscribe to additional SaaS products
- Churn: both in terms of dollars and number of customers who cancel their subscriptions
Last point for the day: I'm stealing a huge portion of these ideas from Guy Nirpaz's book "Farm Don't Hunt: The Definitive Guide to Customer Success". A very worthy read if you're into SaaS and customer success.