Episode 37
037 Ray Rike - Successful SaaS Leadership: Measuring What Matters in 2023 and Beyond
In today’s SaaS Fuel™ episode, Ray Rike joins SaaS Fuel to discuss how he helped develop the industry's largest (and first) interactive, real-time benchmarking database, saaskpibenchmarks.com
Episode Sponsor
Champion Leadership Group – https://championleadership.com/
Navigating Success Together 2023 Virtual Event
Key Takeaways
[1:51] The importance of metrics
[10:52] Customer CAC ratio versus existing customer expansion cap ratio
[13:51] About saaskpibenchmarks.com
[14:52] Measuring the return on investment of customer success and responsible forecasting
[15:41] Using benchmarks properly
[17:13] Customer Success responsibilities
[17:52 ] What Investors Look For
[20:30] The SaaS Metrics Board
[23:10] Three things that make financing deals difficult for SaaS Companies.
[31:09] Three things your organization can do to impact net dollar retention – and how to measure it’s working
[38:18] SaaS metric and benchmark analysis example
[43:26] Final thoughts and where to contact Ray
Tweetable Quotes
[1:51] Metrics and the associated benchmarks are the best way to inform decision-making
for a fast-growing SaaS company. I also believe that metrics provide a great alignment foundation between the organizations responsible for customer acquisition, retention and expansion, marketing sales and customer success.
[15:41] Benchmarks, just like metrics, aren't absolute. They're not one hundred percent accurate…but benchmarks are directionally very instructive and insightful.
[30:26] So many of the VCs have great educational content about the metrics that matter, and B2B SaaS. If you just spend an hour a week kind of following two or three great thought leaders or learning about one metric from a venture capital website, you're gonna be so much better informed than the head of marketing, head of sales, or head of product. You’re also going to be positioned to be that CEO in the future.
Guest Resources
Ray Rike - https://www.linkedin.com/today/author/rayrike
saaskpibenchmarks.com
Twitter: @ Rayrike
https://www.revopssquared.com/metrics-that-measure-up
https://www.key.com/businesses-institutions/industry-expertise/library-saas-resources.jsp
Todd Gardner – https://www.linkedin.com/in/toddgardner1/
SaaS Capital: https://bit.ly/3WYmBxQ
Lauren Kelly/Opex- https://www.linkedin.com/in/lauren-kelley-13972
Ben Murray - SaaS CEO - https://www.thesaascfo.com/about-ben/
https://www.linkedin.com/in/benrmurray
Chelsea Stoner - https://www.battery.com/people/chelsea-stoner/
https://www.linkedin.com/in/chelseastoner
Mary D’Onofrio - Bessemer Ventures
https://www.bvp.com/team/mary-donofrio
https://www.linkedin.com/in/mary-d-onofrio-a125b2154
Dave Kellogg - https://kellblog.com/
https://www.linkedin.com/in/kelloggdave
https://twitter.com/Kellblog?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
Gainsight - https://bit.ly/3CjsxK6
David Apple - https://www.linkedin.com/in/appledavid
Ryan Morrison: https://www.founderscircle.com/our-team/ryan-morrison/
https://www.linkedin.com/in/ryan-morrison-98225198
Saasmetricsboard.com
SaaS Fuel Resources
Website - https://championleadership.com/
Jeff Mains on LinkedIn - https://www.linkedin.com/in/jeffkmains/
Twitter - https://twitter.com/jeffkmains
Facebook - https://www.facebook.com/thesaasguy/
Instagram - https://instagram.com/jeffkmains
This podcast uses the following third-party services for analysis:
Chartable - https://chartable.com/privacy