Tim Kopp is the chairman and CEO of Terminus, an ABM platform that powers excessive-performing trail-to-market groups.
There’s certainly no scarcity of SaaS performance metrics leaders focal point on. Whereas all SaaS companies attain, and must, dwelling in on acquisition metrics, there’s additionally large revenue doable within your present customer rotten.
I think NRR (net revenue retention) is with out examine basically the most underrated metric out there. NRR is merely entire revenue minus any revenue churn plus any revenue expansion from upgrades, hideous-sells or upsells. The simpler the NRR, the sooner companies can scale. Merely save: the capability of compound math!
One in every of the excellent and most impactful changes we made modified into to trail unique business, retention and myth administration all below our chief revenue officer.
Over the course of two quarters, Terminus grew its NRR by more than 30 points, opening up incredible unique levels of recount opportunities.
To increase our NRR for the upper, I centered on three core pillars within our organization.
We took a holistic detect on the organization and our org construction. One in every of the excellent and most impactful changes we made modified into to trail unique business, retention and myth administration all below our chief revenue officer. At the close of the day, it honest makes a ton of sense to have acquisition and retention living below the an identical roof — why bother acquiring unique customers in case you might possibly possibly’t retain them?
We additionally rolled out a encompass-sound team (around three or four other folk per customer) who onboard and support customers with their myth from day one. In entire, now we have about a quarter of our firm dedicated to this 24/7 enhance and arms-on steering to be certain we’re enabling customers straight.