Understand your metrics better
As a consultant for SaaS companies, I have seen many organizations from the inside struggling calculating the LTV:CAC for their company and campaigns. Time and time again, I got asked the same questions like what is the LTV for acquisition channel X, and, do you see a difference per tier, segment, etc. The problem of siloed data in different tools and platforms makes it a tedious and error-prone task. Also, by its nature, the value of SaaS customers changes a lot during their lifetime. The logical consequence is that most companies only track vanity metrics (e.g., number of leads from last week's campaign), only do this once every month or, worse, nothing at all. These vanity metrics do not move your real north star metric.
While it's relatively easy to measure the "effectiveness" of a campaign while running, it's much harder to track meaningful metrics as LTV attributed to the right channel. Also, over time there will be churn and expansions. That Twitter campaign everyone was talking about could have performed excellently at first sight (high number of leads) but, in the long run, caused many churned customers (overpromises).
Simple questions that are often hard to answer:
"Half the money I spend on advertising is wasted; the trouble is I don't know which half" - John Wanamaker
Data should be easy to access to make informed decisions. It's needed to optimize sales funnels, to grow companies, to improve user experience, and a lot more. Analytics are great but can get easily complex, but it shouldn't.
So good news, with Bright City, we have made a toolset to make necessary data easily accessible for anyone. See the LTV:CAC ratio per campaign, channel, segment, tier, sales rep, and much more. It's a rethink, freshly designed toolset for growing SaaS companies.
Bright City connects your marketing efforts with your sales performance. Focus your limited time and attention on the things that matter most. Because bottom line, vanity metrics won't move the needle. Accurate metrics, on the other hand, help you understand which of your activities effectively grow your company. By focusing on the right channels and campaigns, you'll improve your metrics and your company's growth.
No vanity metrics, no fluff, only metrics that truly matter - Bright City is the co-pilot we always wanted. So we built it ourselves.