Innovation is hard work - harder than most people realize.
How do we find one insight that can put your company on fast growth track?
Grow with us
Can we find out a key metric that is right for your business and acting on it is proven to give you growth?
Over the past few years,
TechFerry has helped many companies with Growth Analytics. Email us at email@example.com and we will help find the right metric for you - which can put your company on fast growth. You can also leave us a reply at the bottom of this page to get your business analyzed for growth.
Can we create a model for my business growth?
Can growth analytics be done for my business? Will it put my business on fast growth trajectory?
Growth Case Study: Retention for SaaS based companies.
For SaaS (Software as a service) companies, retention is crucial for growth. 5% churn per annum is good. Churn above that needs attention. Some SaaS companies face churn as high as 30% per annum. Some see 30% or more churn in first 60-90 days after sign up. How can you grow your business with such high churn?
TechFerry recently helped a SaaS company analyze retention. There were 10+ parameters on product usage data that we needed to correlate with client retention. The aim was to first determine which factors impact retention and to what extent. Based on results by this machine learning exercise, we created a forward metric and a retention score (0-100). The clients with retention score above 60 were more likely to renew. Clients with retention score 40-60 needed attention and intervention - a set of suggestive actions were planned to move these clients up the value chain. Client with score less than 40 were marked inactive clients and they were handled with separate strategies.
A dashboard was created for management to view the health score in real time. It contained important metrics like 'Score Average'. Average score targets were set. Action metrics were defined for customers segmented in 40-60 and 0-40 score. If you want more information, please request your copy of this growth case-study by emailing us at firstname.lastname@example.org now. You can also leave us a reply at the bottom of this page to get your business analyzed for growth.
Sales Analytics - important metrics to track.
- Lead Scoring: Score your leads on a scale of 1 to 100. Potential buyers with fewer than 65 points are "prospects"; potential buyers with more than 65 points are "leads".
The higher the number of points, the hotter the lead.
- Lead Conversion Metrics: What percentage of new leads (referral, inbound, website, advertisement, outbound) turn into qualified opportunities? What percentage of these qualified opportunities convert to closed deals?
- Pipeline Metrics: How much new pipeline opportunities (in dollars) are you generating every month? What percentage of pipeline opportunities are from proven campaigns, cold calling or other sales techniques you deploy?
Can we get out of this commodity hell?
What do you suggest if we sell commodity? By the way, does Nike sell shoes - a commodity?
Growth Insight: Get out of commodity hell.
If you sell homes, sell locality, neighbors, schools and activities near by. That makes your home in the locality you just sold more important. If you sell furniture, sell your store and its focus on quality and overall home design. Sell the dedication of store owner to its customers.
If you sell shoes, study the feet, fashion and footwear. There are 214,000 nerve endings in your feet, for example, that connect to every organ in the body. Your feet sweat about a cup of moisture per day. The quality of the shoe makes a huge difference in whether your shoes will allow this moisture to properly escape or build up bacteria.
Question: What should growth analytic focus on? Your product, your customers or your market?
Does your company needs to hire a dedicated Growth Manager — alternatively Growth Hacker, Growth PM, or Head of Growth? What does this role of Growth Manger exactly means?
The Growth Manager function typically lives at the intersection of marketing and product development, and is focused on customer and user acquisition, activation, retention, and upsell.
Data is the fuel of the growth function and growth teams invest a significant share of their resources to create the infrastructure that enables analysis of user behavior, scientific experimentation, and targeted promotions.
At TechFerry, we have developed tools and infrastructure, which have been proven in production environment for many growth functions for many of our clients. If you decide to work with TechFerry for your growth needs, you will be able to utilize our tools, ready made growth models and growth functions and our infrastructure right away.