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Modern businesses rely on data to tap insights about market demands, expectations, and interactions. The more data you have about your potential buyer, the merrier, right? Well, not necessarily. Research suggests that most businesses cannot benefit from more than 27% of the data at hand. This means that roughly 73% of that critical data is […]
I remember my first group assignment in college. We had to write a report and email everyone for every little change that any of us thought was necessary. Add to that the universal caveat of forgetting to attach files, and we were often left with a lack of information. When we finally started to use […]
Let’s go back to 1997. This was the year when a man named Jeff de Luca was working on a software development project in the banking industry. He was a member of a team of 50 people working on this project. He felt that this team should be much more aligned with customer needs. With […]
Prioritizing sales goals in their product strategy is common among many companies. But customers are becoming more and more clear about their expectations, and they prefer products that provide them with value. This is where the customer value chain comes into play. The customer value chain puts the customer first instead of what you think […]
Every company wants to have a successful product. But what is meant by success here? And more importantly, what do you need to pay attention to achieve this product success that you are aiming for? In this article, you will understand what exactly product success is and learn how to have a successful product. This […]
Product development is the process of taking an idea from conception through delivery and beyond. Whether you are launching a whole new product or improving an old one, the product development cycle begins long before anything is developed. Everything from ideation to carefully planning, building, and putting it to market — and then analyzing its […]
Before launching a new product/service, you need to make sure that there is demand for it in the market. No matter how perfect your product/service is, people pay for the things they need or really want. Of course, you would want to know if people need what you are offering, what you worked for, perhaps […]
Today, data is the guide for most decisions in companies. These decisions can range from launching a new product and research and development to creating promotional offers and developing personalized marketing and advertising campaigns, etc. Businesses always need data at their disposal to make accurate and successful decisions about the examples above. The problem is, […]
Getting an accurate view of how your products are performing with customers is essential for long-term survival in the market – and this is especially true for this competitive SaaS environment. Although metrics such as the total number of users and daily click-through rates can give you an overview of the products, they are not […]
Intuition is, of course, good when making the best decisions for your company. But the truth is, we live in a data-driven world. It is impossible for organizations to make the right decisions without data. To stay in the market, you must base and support every decision you make with data. Data comes in many […]
Companies use various strategies to promote their products and services. A good product launch strategy involves research, testing, and actions from different departments to make sure your customers buy your product. If you have a new product/service that you want to introduce to the market, you should give importance to your product launch strategy. If […]
Data visualization is the use of graphics such as charts, plots, infographics, and even animations to represent data. These visualizations break complex data relationships down and allow users to extract insights in an easy-to-understand manner. Data visualization tools can be used for a variety of purposes and enables business users to leverage data for decision-making […]
A good user interface (UI) is critical for achieving a good user experience. It should allow people to easily use your website or product. Whether you are looking to improve the design of your website/product or you are completely new to UI design, it is important to know a few rules and principles to have […]
Product Led Growth (PLG) is a business development strategy that capitalizes on product usage to drive customer acquisition, conversions, and expansions. Product-led growth is a powerful strategy in any industry, but it works best when applied to a software-as-a-service (SaaS) company: product-led go-to-market practices can revolutionize how SaaS businesses operate. According to statistics, 70% of […]
Product management is a dynamic field that significantly affects the future of companies. As 280 Group noted in its report, a successful product manager can increase the company’s profits by 34.2%. A better understanding of product management can help you create more effective strategies. This article will help you learn the basics of successful product […]
The SaaS industry is expected to experience its most significant annual growth in 2022. So much so that, according to Gartner, the SaaS industry will reach a value of $171.9 billion by the end of 2022. It is also predicted that 85% of the software used by organizations will be SaaS by 2025. As you […]
If you want to ensure the survival of your business, you must make sure that your business is growing. In today’s constantly developing and growing marketplace, it is almost impossible for a business to maintain its place in the market. But while keeping your business growing, you must ensure that growth is sustainable and secure […]
The number of customers of SaaS products has been increasing more and more in recent years. Each year the SaaS market grows by 18% and SaaS products are placed in a larger territory in the market. In this case, leading to better product decisions is vital for your SaaS business. To be able to improve […]
In a recent survey of more than 1,000 people, close to 80% of respondents said they use analytics primarily to understand their product usage. They also stated that there is a good reason why they did this. As it can be seen from the results of this survey, Product usage analytics is of great importance […]
That is a low rate because if most product elements are not used, it is not possible to fully talk about its success, even if the product itself is used. That is where Adoption Funnel comes into play. With the adoption funnel, you can observe the behavior of users interacting with the features. Moreover, you […]
Product usage data shows you how users navigate around your product, the features they use the most, and the issues they're facing. In this article, I'll explain product usage and why it's important for SaaS. I'll also list the most essential product usage metrics and show you how to calculate them.
With customer success metrics, you can measure your business' performance. They help you understand how effective your strategies are and whether your customers are satisfied with your service. In this article, I'll define the top customer success metrics, explain why they're important, and show you how to calculate them.
Customer onboarding is one of the most crucial stages of customer lifecycles. It sets up the tone of the relationship between you and your customers. You can think of customer onboarding as the stage that you make the first impression, reassure your customer about your product, and ensure that your customers know what your product is.
In this article, I will explain what the Product-Centric and Customer-Centric approaches are, their aims, differences and shortcomings. If you are a new SaaS company trying to find the right approach for your sales strategy, this article is for you.
Do you want to make long-term plans for your company's subscribers? Would you like to know through which metrics you can analyze your user base? In this HockeyStack article, I will talk about churn and retention rates for your users. Understanding these terms is essential for SaaS marketing.
Are you dealing with a customer base that doesn’t interact with your brand as much as you’d anticipated? You’ve come to the right place. Today, most businesses can increase the number of their leads using a variety of marketing strategies, however, ensuring that these are high-quality leads that will interact with your business is not […]
As the majority of SaaS businesses rely on subscriptions, the retention rate is a critical metric to measure. It allows SaaS companies to know what should be optimized, changed, or scaled. Net Dollar Retention and Gross Dollar Retention are important metrics that you should track if you want to retain customers in the long term […]
Increasing your SaaS customer retention rate by 5% may increase your profits by a rate up to 95%. Since most revenue and profit of SaaS companies come from retained customers instead of new ones, it’s a great idea to look into improving customer retention. Customer retention is your brand’s ability to turn existing customers into […]
If you’re a marketer, you’ve probably already heard the terms customer journey, customer experience maps, customer funnel, and plenty of other very similar-sounding jargon. And if you’re like most people, you’ve probably been wondering “what do you mean customer journey vs customer experience maps? Aren’t they the same thing!?” Well, they’re not, but both these […]