🎙️ Hey there, SaaSpreneurs!🎙️

🚀 Hey there, SaaS enthusiasts! Ben Murray here. I’m thrilled to welcome you to this week's edition of the SaaS Metrics School Newsletter! 🚀

In today's feature, I'm going to take you on a deep dive into the crucial early data tracking for SaaS businesses. We're going to focus on the foundational pillar 1 of my very own SaaS metrics framework.

So, buckle up for a journey into the world of SaaS metrics, and let's uncover the secrets together. Happy learning! 🌟

You can also listen to this episode here.

📓Key Concepts to Learn💡

1. Pillar 1 of My SaaS Metrics Framework: 🏗️ The first pillar of the SaaS Metrics framework involves tracking early data in a SaaS business related to growth and revenue sources. This includes monitoring where customers are coming from, the new revenue being generated, and the customer counts. It also sets the foundation for tracking expansion revenue. This data tracking starts from day 1 and continues for the life of your business.

2. Importance of Tracking Data: 🎯 I emphasize the critical need for accurate and detailed tracking of data, especially when it comes to booking sources, revenue sources, customer counts, and early revenue. Whether using a CRM system or spreadsheets, tracking bookings data is essential for due diligence, forecasting, and demonstrating traction in your business.

3. Two Sources of Data Tracking: 🔄 Depending on the business model, there are two primary sources of data for tracking. If your business has an outbound motion with closed won opportunities, booking data will be tracked in a CRM system or spreadsheet. Alternatively, for a self-service SaaS product where customers swipe their credit card, payments data or invoice data will be used to build the Monthly Recurring Revenue (MRR) schedule which we can then translate to bookings data.

In conclusion, this episode of the podcast provides valuable insights into the foundational aspects of tracking bookings data in your SaaS business. The emphasis on the importance of accurate data tracking, along with the identification of two primary sources for data collection, serves as a valuable resource for SaaS founders and business professionals seeking to understand and implement effective metrics tracking in their organizations. 🚀

Ready to supercharge your SaaS business? 🚀 Download Ben Murray's free SaaS forecast model on thesaascfo.com and revolutionize your revenue forecasting. Join the SaaS community with almost 6000 members.

If you found this episode helpful, make sure to tune in to future episodes of SaaS Metric School to broaden your knowledge on essential SaaS metrics and finance topics.

Got any burning questions or specific metrics you'd like us to cover?

Drop us a line, and we'll do our best to address them in upcoming episodes. 

Until next time, keep hustling and measuring those metrics!

Best regards,

Ben Murray
Host of SaaS Metric School

📝 Episode Recap 🎧

In this episode of SaaS Metrics School, Ben discusses the importance of tracking early data in a SaaS business, specifically focusing on growth and revenue sources. He introduces the concept of Pillar 1 in his SaaS metrics framework, emphasizing the need to track where customers are coming from and the new revenue being generated. Ben points out the two sources of data for tracking this information - bow motion closed win opportunities and payments data for self-service SaaS products.

He highlights the significance of tracking bookings data, including customer information, revenue streams, and subscription details, regardless of whether it's done in a CRM system or a spreadsheet. Ben also mentions the importance of building the Monthly Recurring Revenue (MRR) schedule, which will be crucial for Pillar 2 when looking at retention.

Listeners are encouraged to download Ben's five-pillar SaaS metrics framework from the show notes to understand the progression of tracking data from landing customers to retaining and expanding them. Ben ends the episode by teasing that the next edition will delve into Pillar 2.

Stay tuned for more insights on building and growing a successful SaaS business in the upcoming episodes of SaaS Metrics School.

P.S. Don't forget to subscribe to our podcast and share it with your SaaS business buddies. Together, let's conquer the world of SaaS metrics!

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