June, 2020

What Is Good Retention: An Exhaustive Benchmark Study with Lenny Rachitsky

Casey Accidental

At the end of 2019, I presented Eventbrite’s product plans to the board for 2020. These plans included a lot of the goals you likely have in your company: improvements in acquisition, activation, and retention. One of our board members asked: “I understand these goals for the year. But long term, how high could we push this retention number? What would great retention be for Eventbrite?”. I actually didn’t have a great answer.

Congratulations, You’ve Created a Category. Now What?

Kellblog

I was talking to an old friend the other day who’s marketing chief at a successful infrastructure startup. “Congratulations,” I said, “I know it was a long slog, but after about a decade of groundwork it looks like things have really kicked in. I hear your company’s name all the time, I’m told business is doing great, and Gartner literally can’t stop talking about your technology and category.”

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Trending Sources

Avoiding Website Ratholes: Advice for SaaS Marketers

Practical Advice on SaaS marketing

Nobody seems happy with their website. In talking with lots of Marketing managers over many years, I’ve found that they tend to fall into one of only two camps: People that are currently redoing their website, or People that are planning to redo their website. In other words, nobody’s really happy with their existing website. Over the last year, I’ve worked with 4 different clients on a complete overhaul of their websites.

We?re About To See a Lot More SaaS Debt

SaaStr

Debt for SaaS companies done right is a gift. Done wrong, it can weigh you down like an anchor. Few folks have more data than Nathan Latka and he offers up some insights on how to properly leverage up in SaaS. — ed. Good — and Bad — Types of Debt. Carlota Perez argues in her book Technological Revolutions and Financial Capital that in the early days of a “golden age”, financial capital is necessary to fuel new technology innovation. .

The Complete Guide to SaaS Revenue Modeling

SaaS financial models require that you build an income statement, balance sheet, and cash flow statement. In this e-book, we’ll focus on the most complicated SaaS input to model: revenue. Specifically, we’ll dive into two distinct methods for forecasting ARR, explain the relationship between ARR and Revenue, and also highlight how to model cash flow associated with revenue.

Product Judgment: How some people can repeatedly create product success

Inside Intercom

Let’s talk about that trickiest of subjects: Product Judgment. Also known as Product Intuition or Product Instinct or Product Taste, it is the idea that you can use your own judgment to (1) accurately predict what your customers need, want and value, and (2) design and ship the right solution for them. Here, I will tackle some of the common questions around it: Does it exist? What exactly is it? Who has it? Who doesn’t? Who thinks they have it but don’t?

More Trending

Simplifying Sales Tax for SaaS in the US

Chargebee

SaaS Sales tax in the US can be complicated, to say the least. It’s no coincidence that the word ‘taxing’ means burdensome and exhausting

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How Important Are Happy Employees When VCs Invest?

SaaStr

Do startup investors care about how employees are treated where they invest? The reality is VCs for the most part sort of care. What I can tell you 100% for sure is one you have even a small team, VCs: Will all look at your Glassdoor ratings. This is so easy to research / see. Will all do due diligence at least on how CEO is perceived, internally and externally. After all, this is a big part of the bet. At a minimum, they’ll talk to prior round investors for sure.

Why You Should Consider Eliminating the Title “Implementation Consultant” from Your Startup

Kellblog

I’ve worked with several startups that fell into the following pattern: Selling a SaaS application at a healthy price (e.g., 100K to $200K ARR). With low, fixed-cost implementation packages (e.g., $25K). But a product that actually takes maybe $50K to $75K to successfully deploy. Resulting in an unprofitable professional services business (and wrecking the market for partner services). High adoption failure. And, depending on the initial contract duration, high customer churn [1].

9 Customer Referral Hacks to Grow Your SaaS User Base

Cobloom

User referrals are a powerful tool for growing your SaaS business quickly, efficiently, and with minimal investment. To help you on the road towards sector domination, and to push your user referrals nearer to the hallowed point of self-sustaining growth , I'm outlining 9 awesome SaaS customer referral hacks

Are Your Embedded Analytics DevOps-Friendly?

Does your analytics solution work with your current tech stack and DevOps practices? If not, any update to the analytics could increase deployment complexity and become difficult to maintain. Learn the 5 elements of a DevOps-friendly embedded analytics solution.

In SaaS, Your Burn Rate is Muchly a Function of Your DNA. And Your Chosen Competition.

SaaStr

There are some questions in SaaS that are, at some level, almost a mystery: Why was Veeva able to burn only ~$10m net on its way to an IPO? Yet Box needed $250m? Both sell to the Enterprise. So it’s not that. Yes, Veeva has a very high ACV, with prepaid contracts. That helps a ton. Yet … is that really the whole story? Why did Atlassian essentially need no capital to IPO, yet Slack raised epic amounts ? The same with Qualtrics vs Medallia. Don’t they sell to basically the same customers?

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3 Reasons Why Catalog Flexibility Gives Your SaaS Sales Team a Competitive Advantage

Teamgate

No one can dispute the competitive nature of sales. In the world of SaaS—where many teams are peddling products that appear similar on the surface—the need for competitive advantage is real. To successfully make the sale, product quality can only get you so far. SaaS sales teams also need a flexible, dependable infrastructure that enables them to offer and adjust pricing and packaging options that appeal to the specific needs of potential buyers. This means having a flexible product catalog.

3 Customer Renewal Strategies that Work in Uncertain Times

Totango

The COVID-19 pandemic may have radically altered the marketplace around us, but the fundamentals of customer renewal strategies remain the same. Customers have always based their renewal decisions on emotional connections, financial realities, and the amount of trust they have that a service can deliver sustained value. During the current crisis, the importance of those elements of connection, finances, and trust has only increased.

Building Blocks of an Efficient SaaS Finance Operations Team

Chargebee

Growth of any kind demands changes in the status quo. SaaS businesses are no exception. As your SaaS business scales, new processes and functions get added

The Five-Finger Approach to Onboarding

As a group who provides the software tools necessary to manage the contracts to cash process, Aysling onboards users and projects daily, and has learned some important tips if you want to be successful when onboarding new clients and/or projects.

Introducing drag and drop email content and a new campaign editing experience

Vero

It’s an exciting day! We’re pleased to announce our first major release of the Drag and Drop editor. It’s a feature that we believe will transform the way you design, build, and edit responsive email templates. At Vero, we strive to help you send engaging, personalized content at scale. A core part of that is enabling product and marketing teams to communicate product updates, news, and promotions and to also edit the automated product engagement emails.

What Is COVID-19’s Effect on Customer Churn—And What You Can Do About It in 5 Steps

Totango

The COVID-19 pandemic increased the risk of customer churn across almost every industry. Forrester predicts that software growth as a whole will slow down to two to four percent or may be flat if a recession occurs. However, you still have a say in how well your business makes it through this period. COVID-19’s effect on customer churn may have already begun, but there is still plenty you can do to increase customer engagement and retain the customers you have worked hard to win.

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How to Survive and Thrive in the post-Covid Era

For Entrepreneurs with David Skok

Covid and the associated lockdowns are likely to be the biggest disruptive event to occur in most of our lifetimes. There are huge global changes coming as a result. The OECD is forecasting the worst recession in a century. But expect to see far more change than just a recession. Many industries have been disrupted, Startup Help

As Long As You Are Growing 60% Or More — Your Competition Can’t Really Hurt You

SaaStr

(Note; an update of a classic SaaStr post, with 2020+ learnings.). A little while ago, I Zoomed with a good friend running a SaaS company doing about $4 million in ARR. A really good SaaS company. And he was beside himself. First, he was just plain exhausted. He was in that zone from $1 to $10m in ARR when it all just gets so hard. Too much to do with too few people. We’ve talked about how The Cavalry Was Coming.

Digital Trends Report 2020

As part of our goal to continue helping our community during these times, we wanted to share with you this critical data on the state of digital products across industries and provide context on how businesses are responding to the changing winds.

Best Cloud Storage Services

The Daily Egg

The best cloud storage service is Google Drive. For a more in-depth look at the best cloud storage services, check out reviews of our five favorites below. Looking for a way to save room in your office? Or maybe you want to be able to access files remotely? Or maybe you just need a place […]. The post Best Cloud Storage Services appeared first on The Daily Egg. Reviews

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5 Tips to Building Rapport on a Cold Call

Predictable Revenue

On the average cold call, you may have fewer than 30 seconds to give prospects a compelling enough reason to continue engaging with you. How can you even begin to forge a relationship in such a short period of time? The post 5 Tips to Building Rapport on a Cold Call appeared first on Predictable Revenue.

5 Signs Your Pipeline Reviews Are Failing

InsightSquared

Ugh, not another pipeline review! We all have those meetings we dread but are forced to sit through every week because it’s part of the process. Some of them are actually useless and can be removed from the calendar, while others carry immense value, but lack the structure and accountability to realize it. . As a team leader, you hold weekly or biweekly pipeline reviews with every rep to gauge the health of their active deals.

16 Questions for Selling in COVID-19

Andreessen Horowitz

During COVID-19, sales teams face a set of twin challenges – reduced IT budgets in an uncertain market and selling when business is virtual. Already half of B2B companies have r educed their budgets by over 40%. Overall, IT … The post 16 Questions for Selling in COVID-19 appeared first on Andreessen Horowitz. enterprise & SaaS apparently all our stuff is 16 (or multiples of 16!) Company Building 101 coronavirus sales

5 Things a Data Scientist Can Do to Stay Current

DataRobot together with Snowflake – a leading cloud data platform provider — is helping data scientists stay current with the latest technology and data science best practices so that they can excel in an increasingly AI-driven workplace. Five Things a Data Scientist Can Do to Stay Current offers data scientists guidance for thriving in AI-driven enterprises.

Top 10 Learnings from the Redpoint 2020 GTM Survey

Tomasz Tunguz

Yesterday, we shared the Top 10 Learnings from the 2020 Redpoint GTM Survey at SaaS Office Hours. The presentation is embedded below. It contains data on go to market team structure, performance by sales function, marketing spend benchmarks, and customer success priorities. I want to thank Nick Giometti who parsed and processed the data and taught me (an R user) a lot about python and pandas along the way. Thanks to his work, we have some terrific insights to share.

15+ of The Top Sales & Marketing Mistakes SaaS Startups Make

SaaStr

A little while back we put together some of the top sales & marketing mistakes SaaS companies and founders make, especially in the early days. I thought it would be worth a quick update of the post. We’ve all made many of these mistakes ourselves, myself included ?? I’m even making a few myself again. But if you see yourself making any of the mistakes below, it’s fairly easy to make a course correction. Just do it! It will help. Sales: Hiring any reps you wouldn’t buy from yourself.

Best Marketing Automation Software

The Daily Egg

Marketing automation software is designed to simplify complex or tedious marketing tasks. In addition to automating marketing processes, the best marketing automation solutions pull information from multiple data sources to deliver data-driven insights for campaign management. Lead generation, customer relationship building, and driving conversions are three of the top benefits of leveraging automation software for […].

How to focus on building an effective revenue enablement function with Maggie Callahan

Predictable Revenue

Deep dive in how to set up a revenue enablement function – and how to prioritize and execute on revenue enablement’s many important tasks. The post How to focus on building an effective revenue enablement function with Maggie Callahan appeared first on Predictable Revenue.

Testing at Every Stage of Development

Up to 80% of new products fail. The reality is harsh and the reasons why are endless. Perhaps the new product couldn’t oust a customer favorite. Maybe it looked great but was too hard to use. Or, despite being a superior product, the go-to-market strategy failed. There’s always a risk when building a new product, but you can hedge your bets by understanding exactly what your customers' expectations truly are at every step of the development process.

Guided Selling Best Practices For Sales

InsightSquared

Sales rarely follows a linear path. As much as you prepare and strategize for every deal, things never seem to go exactly as planned. Fortunately, many sales teams are improving coaching and executing using the new Guided Selling technology. While the term is not new, Guided Selling has recently gained momentum in the B2B selling world due to its ability to adapt on demand and scale coaching across an entire sales team.

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A contrarian take on recovery prospects; Big fintech goes global; Behind the Hertz stock snafu, and more

Andreessen Horowitz

This first appeared in the monthly a16z fintech newsletter. Subscribe to stay on top of the latest fintech news. . IN THIS EDITION. A contrarian take on recovery prospects. The pandemic’s impact on real estate. Big fintech seeks partners to. … The post A contrarian take on recovery prospects; Big fintech goes global; Behind the Hertz stock snafu, and more appeared first on Andreessen Horowitz. fintech news policy & regulation Uncategorized coronavirus real estate

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What is the Structure of the Typical SaaS Company as it Scales?

Tomasz Tunguz

This post is part of a series leading up to SaaS Office GTM Edition on June 24 in which we’re reviewing the results of the 2020 Redpoint GTM survey. Today, we’re answering the question: how do teams grow as a startup scales? We can derive the table above if we look over the entire respondent base and bucket headcount by ARR. The median startup with between 1-5M in ARR will have 12 engineers, 6 in sales and 3 in marketing.