“What gets measured gets managed” – Pearl Zhu.
Five simple words that can potentially be the difference between success and failure. If you’re new, Pearl Zhu is a stalwart in the digital business and strategic sector with 25+ years of experience. One would do rather well if they treated her words as gospel. Especially if you are a SaaS owner looking to ensure your digital marketing agency meets your expectations.
And the way to start doing that is by measuring certain KPIs (Key Performance Indicators) of your SaaS digital marketing agency’s efforts. The acronym speaks for itself. KPIs indicate the performance of your strategies by tracking certain key metrics. These metrics enable a number of positives on your path towards SaaS glory, such as:
- Reflection: This allows you greater clarity for target-setting and making time-bound projections.
- Knowledge: Provides insights on why certain strategies work, or don’t, and the wisdom to affect change.
- Drive: Helps achieve set goals and milestones for KPIs leading to small victories which have a compounding effect on future performance.
So the next question is: how do you go about setting KPIs relative to your SaaS digital marketing needs, and appropriate for your goals?
How to set your KPI trackers?
Study Previous Performance
Every company is different. Different when they start their SaaS digital marketing journey, and different where they want to go. Before setting about your SaaS marketing strategies, dig up old data on your company’s previous strategies and its performance reports. Study these reports and note each of your actions across the entirety of these marketing efforts.
Ensure this is one of the first steps you take after shaking hands with a SaaS marketing agency, and start your new journey on the right foot.
Analyze Your Market
Allow the agency to complete their due diligence about your SaaS company. This includes product/service analysis, studying the target audience, creating a buyer persona, building a brand guide, and more about market studies. Doing this will ensure your SaaS marketing agency is on the same page and can go ahead with formulating new plans.
Use this step to communicate your end goals, set milestones in terms of the overall growth of the brand, and set a realistic time frame.
Set the Trackers
After your agency creates action plans for different marketing strategies, it is time to agree on the KPIs that need to be tracked. Each SaaS marketing strategy comes with a set of metrics that determine the progress in relation to the ROI of time and money.
Here’s a quick ready-reckoner of the KPIs to be tracked for these prominent SaaS digital marketing strategies:
Track the Trackers
So now you have decided on your strategies and set your KPIs. Now what? Let your digital marketing agency run along and work their magic and wait for success? If only it were that easy.
Once everything is in place and the marketing wheels begin to turn, your obligation as a SaaS owner is to hold the agency accountable for its performance. Here are a few easy steps to ensure you are always in the know:
Regular Performance Reviews
Depending on your requirements and the scale of your efforts, schedule review meetings with the agency at least twice a month. During these rendezvous, get a thorough analysis of every single action and absorb the insights derived by the agency for the performance.
Instead of simply relying on the agency to figure out best practices, increase your company’s involvement as well. This will ensure no stones are left unturned for each of the strategies to improve the KPIs and reach your goals.
Digital marketing strategies for SaaS companies are often complex, and require contributions from multiple personnel within the agency. From artists, designers, and writers to web developers, strategists, and operational officers; all of them are equally important cogs in the same marketing wheel.
As a SaaS owner, it is important for you to know who, and how to contact the person accountable for any of the requirements. It makes sense to come up with an escalation matrix that holds the information about responsibility and accountability for every single action.
While it may be that digital marketing for SaaS companies is quite complex in nature, and the precise reason you’re outsourcing it to a specialist agency, it bodes well to actually understand the processes. Try to take time out of your busy day to learn about the complex marketing strategies and the different processes along to way. This will allow you to better understand your agency’s performance and put you in a better position to make improvements.
Digital marketing for SaaS companies is complex. And often, the complex needs to be broken down into smaller digestible chunks of data, which then give you insights into the bigger picture. Ensure your SaaS marketing agency breaks down their complex strategies into digestible chunks of KPIs, and gives you the insights that you want to hear.
Here at Alter, we do just that, while providing the complete marketing solutions that your company deserves.
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An experienced Marketer with a demonstrated history of working in the digital marketing and advertising industry. Aravind is skilled in building ROI driven marketing strategy, digital strategy planning, Search Engine Optimization (SEO), Social media marketing, Search engine marketing, Landing Page Optimization, Web development, Media planning Google certified analytics and PPC expert.