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October 6, 2022

Top 4 Best analytics tools For SaaS Platforms

Top 4 Best analytics tools For SaaS Platforms

New mobile apps to keep an eye on

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What new social media mobile apps are available in 2022?

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Use new social media apps as marketing funnels

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Building a successful SaaS business is challenging due to the abundant presence of SaaS companies in the market, making it difficult to attract new customers. Therefore, identifying the best analytics tools for SaaS platforms that can add value to your SaaS business should be top of mind when starting your SaaS business.

Here is the good news: you can choose from several decent SaaS analytics tools on the market for your SaaS business. The tricky part is identifying which analytics tools are best suited for your SaaS business. 

Identifying the best analytics tools for SaaS businesses requires you to first analyze your business needs and, most importantly, the metrics you’ll be intending to track. Let’s dig in.

What are SaaS Analytics Tools?

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Saas analytics is the process by which SaaS companies analyze user engagement across all touchpoints, such as user behaviour, clicks, scrolls, and conversions.

A flexible SaaS data analytics solution must manage complicated functions while being simple enough for non-technical people to grasp. Users should have the ability to personalize their reports and draw conclusions quickly.

Choosing the best marketing analytics tool can assist you in answering the following questions:

  • Who is looking at your website?
  • How are your blog's visitors interacting with it?
  • Which section has the most number of sessions?
  • How many of your visitors become customers?
  • Where are the most conversions coming from?

How to Select the Best Analytic Tool for SaaS

Selecting the best SaaS analytics software requires you to factor in many things. Here are some primary features you should be looking for when selecting the best analytics tools for SaaS.

  • Custom Event Tracking

Custom event tracking for processes such as; button clicks, form fills, and page visits

  • Automatic Retrieval 

Automatic retrieval that enables tracking of trends and processes ahead of time.

  • Low Code Reliability

It uses low code formats that allow easy code monitoring and integration, making it easier for non-technical workers to manage applications.

  • Detention Reporting

Use of consumer behaviours, pathways, and procedures to anticipate customer retention.

  • Data segmentation 

Enables data to be evaluated based on specified criteria such as demographics, expected behaviour, etc.

  • Third-party integrations 

Integrations improve workflow processes between applications. Therefore, you must choose a SaaS analytic tool that can easily integrate with your business application.

  • Real-time data

Real-time information enables data to be analyzed within shorter periods. 

4 Top SaaS Analytics Tools

It will be best to have reliable software depending on what you want to analyze, be it clicks, revenue, user interactions, or monthly recurring revenue. Hence, here is a list of the four best Saas analytics tools you can use.

  • Google Analytics
  • Crazyegg
  • Mixapanel
  • SquidVision
  1. Google Analytics platform

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Google Analytics has been around for a while. You can hugely improve your customer experience by utilising the digital analytics it provides.

One of the best aspects of Google Analytics is that it is free to use! You get free access to a wide range of data points and insights on your website, including visitors, top web pages, and much more.

Moreover, it is a powerful and adaptable, simple tool. Setting up your site for Google Analytics reporting is also simple. Log in and generate the necessary script, which you can copy and paste into the web pages you want to track.

And the best part? Google Analytics provides a breakdown of the types of users who visit your site with an easy-to-use dashboard, including demographics such as age, gender, and location, as well as the devices used by each website visitor.

Features
  • Built-in automation
  • Reporting and visualization
  • Advertising workspace
  • Exploration, e.g., funnel, segment, cohort
  • Data collection and management
  • Integrations with other tools, e.g., Google Ads
Pros
  • Track your traffic and campaign status.
  • Set your goals
  • Track Bounce rate and conversion tracking
  • Use it for segmentation
  • Understand user behavior
  • Data reports and customization
Cons
  • Only records session-based data; you cannot evaluate user habits.
  • Features can be overwhelming, especially if unfamiliar with the tool.
  • Event tracking capabilities are limited, and you might need an additional tool may be required.
Pricing

Google Analytics is free

  1. Crazyegg

CrazyEgg is yet another relevant web optimization tool that allows you to track the performance of individual elements on your website. It's an excellent tool for determining how many website visitors are taking the desired actions and following the ideal customer journey.

CrazyEgg creates valuable reports (called Snapshots) to assist you in understanding where visitors click on a website and how far down they scroll. You can also gain detailed information about your visitors and analyze their online behavior.

When using the snapshots, I realized that it is a sales booster that gives you greater control over your company tactics via solid capabilities. For example, you can use Crazy Egg snapshots to track how visitors interact with a specific page version.

Moreover, Crazy Egg does not require you to be a tech expert in using its services. So, you can easily navigate the platform, whether fresh or experienced in the internet business.

Features
  • Heatmaps
  • Recordings
  • A/B testing
  • Traffic analysis
  • Error tracking
  • Surveys
Pros
  • Easy to setup and use
  • Know where your visitors are coming from
  • Generates Confetti and Overlays to track website operations
  • Understand user behavior
  • Built for SaaS marketers
Cons
  • Troubles with the A/B testing
  • No revenue tracking
Pricing

They have five pricing plans: basic, standard, plus, and pro.

  • The Basic plan is $29 per month
  • The Standard plan is $49 per month
  • The Plus plan is $99 per month
  • The Pro plan is $249 per month
  • The enterprise plan is custom-priced

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  1. Mixpanel

While many web analytics tools concentrate on auditing pageviews, page duration, and other metrics, MixPanel takes a unique approach. The platform records and analyses the specific "actions" or steps users take while on your website.

While most behavioral data analysis involves creating SQL-stored procedures or queries, MixPanel allows you to use its simple interface to drill deep into how users of your SaaS product are behaving. 

And the best part? MixPanel is an event-driven analytics tool that goes beyond auditing mouse clicks and page views. Sure, you can audit events in Google Analytics, but that isn't its primary focus, whereas it is with MixPanel.

Features

Here are some of the Mixpanel Key features

  • Interactive reports
  • Limitless segmentation
  • Group Analytics
  • Data integration
  • Team dashboards and alerts
Pros
  • Analyze conversions and drop offs
  • Measure active usage
  • Find retention drivers
  • Event tracking
  • Combination of product analytics and in-app messaging
  • Great funnel analysis
Cons
  • Customer aggregation is only in the custom plan
  • The UI is not very user friendly
  • Poor customer support service
Pricing

Mixpanel has three pricing plans

  • Free plan: essential to find product-market fit
  • Growth is $25 per month: more answers for more people
  • Enterprise is custom priced: empower teams in large organisations
  1. SquidVision

SquidVision has introduced a conventional method for all businesses to track revenue. While other tools focus on clicks only, SquidVision is outdoing others by tracking generated revenue from every click on your website.

Heatmaps on scrolls and clicks have been the focus of most analytic platforms. Yet, SquidVision has established that revenue is essential for website analysis. That is why SquidVision has introduced revenue heatmaps.

The only difference between click heatmaps and revenue heatmaps is that revenue heatmaps show links and buttons and the revenue generated when clicked. Thus, you get an overview of the generated revenue from all clicks.

Furthermore, enterprise analytic software primarily finds revenue tracking and attributions. Thus, SquidVision is bringing in fairness by making revenue tracking and attribution available for small businesses.

Features

Here are some of desirable features

  • Revenue tracking through revenue heatmaps
  • Revenue attribution on buttons and links
  • Audit content marketing strategies
  • Evaluate CTAs
  • Integrate with other apps
Pros
  • Revenue tracking
  • Revenue attribution on buttons and links
  • Conversion tracking for each link and button
  • Audit your content marketing strategy
  • Tweak CTAs to increase conversions.
  • Decide which content needs to promote.
  • Integrate with other applications like Stripe
Cons
  • Does not record user sessions
  • Does not have session replays
  • No free plan, but there is a 14-day free trial on all plans
Pricing

SquidVision has created plans for all business sizes depending on your monthly recurring revenue.

  • Porthole: $49 per month if your MRR is less than $20k
  • Clearwater: $99 per month if your MRR is between $20k to $100k
  • Visionary: $199 per month if your MRR is between $100k to $500k
  • Custom plan for MRR above 500k

Why SquidVision is myTop SaaS Analytics tool

The lack of a simple process like revenue tracking has made SaaS companies fall back on the competition. That’s because most big corporations use revenue tracking to stay on top of the competition in their enterprise analytic platforms. 

In the current SaaS market, you need conventional software like SquidVision to track revenue from clicks on your website. SquidVision has outdone most software by introducing one feature that didn’t exist for small businesses: revenue heatmaps.

Revenue heatmaps are the future of CRO! 

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SquidVision is a secure, affordable, and scalable SaaS analytic software focusing on growing SaaS companies through real-time conversions and revenue tracking. So as your company grows, you can grow your plan to suit your needs.

Oh, and the best part? SquidVision is very easy to use. No one wants a complicated user interface that gives them headaches. So, you only need three simple steps to get started with SquidVision. You can track traffic, CTAs, content, revenue, and conversions.

SquidVision is the modern SaaS analytic platform that will give you all the control you need in your business today. So sit back, relax, and let SquidVision do your hard work.

Try revenue heatmaps with SquidVision Today!