Lars Lofgren is an Online Marketing Ninja and Director of Growth Marketing at KISSmetrics.
Passionate about SaaS, Online Marketing, Growth, Reading and Cold Weather, although not necessarily in that order, we asked Lars to be this weeks SaaSStar to find out some more about Lars and all of the above except the cold weather bit.
Hey Lars, can you tell us how you came about working for KISSmetrics?
Straight out of school, I built up a freelance client base around online marketing. And if you’re in online marketing, you’ll come across Hiten (Shah) and Neil (Patel) pretty quickly. I had been following them on Twitter for a while and one day, Hiten tweets out how they’d like some help with marketing at KISSmetrics. I found his email on his blog and sent him 3 bullet points with results that I had gotten my clients. A few days later, Hiten connected me to Neil and we jumped on a call. Neil asked me two questions: Do you have experience with copywriting and do you have experience with Google Analytics? I was GA certified and I loved writing copy so I was a great fit. I started doing a few projects for them and then joined full-time a few months later.
In what ways are SaaS companies using KISSmetrics?
SaaS companies use KISSmetrics to find their bottlenecks, see where their best customers come from, and optimize their marketing. With our funnel, cohort, revenue, and path reports, you can see exactly what’s working and what’s not. Essentially, SaaS companies use KISSmetrics to get the insights that they need to grow their business faster.
In your opinion, are some SaaS companies putting to much emphasis on Software and not Service?
Not at all. The amount of “service” that you emphasize depends on your price point. If you’re charging $10-100 per month, you just don’t have the margins to provide on-ramp programs and lots of hand-holding. You can still have a great support team but it’s really just a team to handle support tickets. The proactive stuff is only possible at higher price points.
On your blog, you wrote that the Most reliable growth hack for SaaS is to double your price! Whats your reasoning?
Most people, especially first-time entrepreneurs, undervalue their own products and services. This means that they’re charging a fraction of what their market would be happy to pay. By doubling our prices from the start, we counter our internal bias. There is definitely a cap where purchases will start to slow down as you raise prices. Usually, you can double it once without losing any volume.
You read a lot of books. Circa 1 a week. What 3 books would you recommend as must Read’s for SaaSPeople and why?
I do read a lot of books, here’s my top recommendations for SaaS:
- Predictable Revenue – Describes the Sales playbook that has become the standard at all high-growth SaaS companies.
- High Output Management – SaaS needs a fully dedicated team (Sales, marketing, Product, Engineering, and Customer Success) to make it work. This is one of the best books on management that I’ve read.
- The Goal – A great primer on systems thinking. The growth of your funnel and the speed at which you ship product improvements will have their own bottlenecks. You’ll need to understand how they constrain the entire system and why it’s so important to fix them.
by Alex Theuma @alextheuma