EP28: The Top 5 Growth Drivers

In Demand: How to Grow Your SaaS to $1M ARR and Beyond

What are the best areas to focus on when you’re trying to drive growth in your company?

In this episode of In Demand, Asia Orangio, CEO of DemandMaven, breaks down the top five growth drivers for SaaS businesses.

1. Growing Awareness
2. Growing Traffic
3. Capturing More Leads
4. Increasing Sales
5. Increasing Business Capacity

TL;DL

• 1:00 - What are the top 5 growth drivers?
• 1:55 - Growing awareness simply means more people knowing about your brand. This is tough to measure, but usually you can look at behaviors like testimonials or referrals.
• 4:15 - Growing traffic to your website is huge and easy to track, but it is very competitive in 2023 using traditional channels to grow traffic.
• 5:20 - Capturing more leads means increasing the number of leads, but also increasing your conversion rate, so that you are getting a bigger percentage out of all your traffic converting.
• 7:05 - Increasing sales. This is about improving the conversion rate, but also accelerating the sales cycle and increasing profitability.
• 9:45 - Increasing business capacity is where you are making hires and removing bottlenecks from your business that are slowing growth. Most of the time, growth is a function of how well your team is functioning.
• 17:30 - In early stage companies, you will often find it most valuable to focus on growing traffic, capturing more leads, and increasing sales. In more mature companies, all 5 are important to focus on.
• 19:00 - If you think through these five growth factors as it relates to your business, what are the top 2 most important for your business? And then within those 2 what are the 3–5 projects that you can do to make an impact on those growth factors?

Check out Katelyn Bourgoin on twitter at https://twitter.com/KateBour