Weekly Walk with Deputy’s Global President & SMB Team Sales Manager, Steve Power & Laura Bartkiewicz

OpenView Labs

The post Weekly Walk with Deputy’s Global President & SMB Team Sales Manager, Steve Power & Laura Bartkiewicz appeared first on OpenView Labs. Weekly Walk

SMB 46

PODCAST 53: Transitioning to Move Upmarket from SMB to Enterprise w/ David Katz

Sales Hacker

He also gives us a framework for how to move upmarket, and the requirements for taking a company from the SMB space all the way to the enterprise. Strategies for moving upmarket, and how to transition from SMB to enterprise.

SMB 68

Three Counterintuitive Points about SMB SaaS

Tom Tunguz

Kenny van Zant drew this diagram for me on white board and I think it’s the best visualization of how SMB SaaS freemium business grow. The diagram highlights a few important mechanics of the SMB SaaS business model.

SMB 130

The Secret to SMB SaaS Distribution

Tom Tunguz

SMB SaaS companies cannot afford to pay for distribution. The most successful SMB SaaS companies (Zendesk, Expensify, Square) build communities to drive distribution.

SMB 130

The Pressure to Move Up Market Facing SMB SaaS Startups

Tom Tunguz

When an SMB SaaS startup is young with quickly growing revenues, more of the same works. For some SMB SaaS companies, generating this kind of lead volume even at scale isn’t a challenge. But many SMB SaaS startups eventually outstrip their initial user acquisition channels whether they be word-of-mouth, content marketing, mobile app distribution, channel partnerships. ARR 1 5 10 25 50 100. New Customers per Year 1333 6667 13,333 33,333 66,667 133,333.

SMB 100

The Characteristics of the Most Attractive SMB SaaS Companies

Tom Tunguz

What are the attributes of the ideal SMB SaaS company, an entrepreneur asked me recently. I believe that the next wave of SaaS companies will be centered around workflows, Event Driven SaaS , and this extends to SMB SaaS. I don’t have the answer to building an amazing SMB SaaS company. It’s a good question. There are product, marketing, and sales attributes to that ideal company that successful SaaS business have exemplified in the past. Product.

SMB 100

SMB Update: End-of-Year Hurdles for Small Businesses

wepay

While most of us are occupied with shopping and travel for the holidays, small & medium-sized business (SMB) owners have even more end-of-year issues to navigate. As a partner to platform businesses, we’ve developed best practices to quash SMB pain points.

SMB 52

InsightSquared’s Dreamforce 2017 Sessions for Sales & Sales Operations Professionals

InsightSquared

Mike Wolff, SVP, Commercial Sales, at Salesforce, Adrian Rosenkranz, Head of SMB Marketing at Salesforce, Peri McDonald, Regional Vice President, Customer Success at Salesforce and Fred Shilmover, co-founder and CEO of InsightSquared. Market, sell and support: best practices from SMB leaders — Wednesday, November 8 at 1 – 1:40 p.m., Cost-effectively marketing & selling to, servicing, and retaining SMB customers is daunting for any organization.

SMB 131

Are SMB SaaS Companies Valued Differently than Mid-Market SaaS Businesses?

Tom Tunguz

Today, we’ll dig into valuation metrics to see if there’s any systematic bias in the investor community for SMB, Mid-Market and Enterprise SaaS companies. SMB is less than $10k, Mid-Market is between $10k and $100k, and Enterprise is greater than $100k in average customer value. The data indicates that SMB companies trade on average at 8.1x In the SMB and Mid-Market, there’s quite a bit of variance.

SMB 100

SMB or Enterprise - Which is the Better Go To Market in SaaS?

Tom Tunguz

SMB to mid-market to enterprise or straight to enterprise?” In exchange for these benefits, SMB startups cede the enterprise market early on. Oracle (enterprise) bought Netsuite (SMB) for $9.3B. A friend recently asked, “Which path is better for SaaS startups? ” It’s a key strategic question for many founders building software companies. Startups that initially target small to medium businesses benefit from several key advantages.

SMB 105

The Defining Characteristics of Successful SMB SaaS Startups

Tom Tunguz

At first glance, SMB SaaS companies, those who sell Software-as-a-Service to small to medium businesses, may seem like any other software company. Successful SMB SaaS companies have reinvented their businesses eschewing the expensive enterprise sales model in favor of end-user centric marketing, support and product development. SMB SaaS companies sell to a highly fragmented market. Effective SMB products also prequalify customers through the Product Qualified Lead.

SMB 100

SMB update: WePay survey finds payment challenges galore

wepay

The WePay SMB & Money Survey , a national survey of 505 U.S. Data from the WePay SMB & Money Survey reveals additional benefits for SMBs that accept payments online. The post SMB update: WePay survey finds payment challenges galore appeared first on WePay Blog. What’s it like to run a small business? What obstacles do small business owners face? small business owners, addressed these and other questions.

SMB 40

Successful SMB SaaS Companies Have a 2 Step Value Proposition

Tom Tunguz

On first glance, SMB SaaS companies, those who sell Software-as-a-Service to small to medium businesses, may seem like any other software company. SMB SaaS companies sell to a radically different market than enterprise software companies. On the other hand, SMB SaaS companies sell to firms with 10 employees and $400k in annual payroll. SMB SaaS companies need to reach and market to 1,000 times more companies than their enterprise counterparts.

SMB 100

5 Interesting Learnings from Xero. As It Crosses $650m in ARR.

SaaStr

What lessons can we learn from this huge Kiwi SMB success, for other founders? ” So even in SMB sales in smaller markets, if you take dominant market share — you can get to $500m+ in ARR! Xero’s SMB churn isn’t zero.

SMB 276

Salesforce Essentials review: Stripped-back CRM wins on functionality

ITPro

The SMB edition of one of the world's most popular sales tools dials down both cost and complexity. Reviews.

SMB 62

What is the psychology behind the B2B enterprise sale?

SaaStr

And the average SMB buyer has already purchased 50+ apps. In 2019, the average enterprise buyers has deployed over 100+ SaaS apps, per Okta numbers. So your prospects and customers are veterans. The general pyschology thus is different than it used to be in SaaS.

Our Top 8 Tips to Prevent Credit Card Fraud

Rebilly | Insights Into Subscription Billing

That’s the average total of direct and indirect costs of SMB businesses trying to recover from credit card fraud. Have $46,000 to spare?

SMB 56

5 Interesting Learnings from SurveyMonkey. As It Crosses $300m in ARR.

SaaStr

self-service customers, at some point, you can potentially have the entire world as customers and mature out in SMB. One worry with SMB and freemium is how big can the market be? SurveyMonkey is one of the Old School SaaS companies that has followed an interesting path.

SMB 269

As an entrepreneur, what was it like acquiring your first customer?

SaaStr

The second time, we started SMB. As a founding team, we didn’t know what to make of our first SMB customers, as they were very small — from $12 to $99 a month. I had very different experiences. In my first start-up, we were whale hunting — big, large, Fortune 500 customers.

SMB 146

The Top 10 Most Popular Sessions at SaaStr Europa Next Week!

SaaStr

The Secret to SMB Sales with Accel and Doctolib. Do you have your ticket for 2019 SaaStrEuropa.com? We are Sold Out at 2,500 total attendees, but will continue to release a handful of tickets from the waitlist, so sign up here asap to get on.

SMB 210

Top 10 Learnings about Free Trials with Tomasz Tunguz (Video + Transcript)

SaaStr

And they were broken down roughly a third, a third, a third by targeting the SMB, the mid-market, and the enterprise. In the SMB, two-thirds use month-to-month, and in the enterprise, you’ve got two-thirds using multi-year. So there’s no value using it at the SMB.

SMB 236

How Hikari Used Nimble + Office 365 To Unify Data Under One Roof

Nimble - Sales

About the Company Cloud Solutions Provider Hikari Data Solutions (Hikari) was formed in 2018 as the result of a spin-off from EMIT Solutions, founded by Eamon Moore and recipient of a recent Microsoft Global Partner of the Year Award for SMB Cloud Solutions.

SMB 83

What is the cheapest thing a sales person did to you?

SaaStr

He asked why we didn’t just use their SMB edition , which missed some features but not any that we cared about too much? Perhaps the “cheapest” thing a salesperson did was hide a cheaper edition from us that would have better met our needs.

SMB 158

5 Interesting Learnings From RingCentral. As It Approaches $1b in ARR.

SaaStr

RingCentral somewhat later in life is growing into a true enterprise-play at $1b+ in ARR vs. the SMB play it was in its earlier and middle days.

SMB 252

5 Interesting Learnings From Zoom. As It Gets Ready to IPO.

SaaStr

It can be tempting to let the SMB side of the business go as you scale. Much has been written about Zoom’s impressive financials as it prepared to IPO, growing > 100% at $425m+ in ARR!

SMB 284

How Much ARR Can a CSM Manage?

Tom Tunguz

In the SMB the distribution is more uniform. Price points in the SMB can vary widely, as can the success effort. How much can a customer success manager manage? I’d heard the wisdom of $1-2M in ARR per year and around 80 accounts. But I hadn’t come across any data.

Are You Interviewing 50+ Years Young SaaS Veterans? You Should Be.

SaaStr

SurveyMonkey was founded in 1999, one of the few SMB survivors of that era. SaaS as we know it probably started in 1999. Salesforce was founded then, NetSuite just before that. There were apps before that (e.g.,

6 Things to Consider When Choosing a Data Provider

InsightSquared

We wanted to be able to serve and align our SMB and enterprise teams by sourcing from the same partner. We noticed that very few vendors had good coverage for both SMB and non-public companies, as well as enterprise companies.

Data 176

5 Interesting Learnings From Slack. As It Gets Ready to IPO.

SaaStr

All the great SaaS companies IPO’ing now have strong revenue retention, whether SMB or enterprise focused. With Slack’s IPO data and financials finally public, what is left to know about the app we all use and have been reading about for years?

Top 10 Learnings from the Redpoint Free Trial Survey

Tom Tunguz

In the SMB, month to month is more common. The data suggests it’s worth testing payment requirement for mid-market and SMB price points. Top 10 Learning about Free Trials from Tomasz Tunguz. At Saastr yesterday, I presented the top 10 learnings from the Redpoint Free Trial Survey that we distributed in October. The data confirmed many rules of thumb but also raised some interesting new questions about the best way to use trials.

SMB 215

The SaaS Executive’s Guide To Building A Winning Go-To Market Strategy

Sales Hacker

The SMB segment—going upstream vs. downstream. Pro-user, SMB, Enterprise, this requires a specific Go To Market strategy. SMB/Group like – selling applications using an annual/monthly/usage contract. The SMB Segment: Going Upstream vs. Downstream.

SMB 87

Can a good salesman sell anything?

SaaStr

A skilled field rep good at $100k+ deals rarely has the patience, planning and organizational skills — let alone the speed — to close 10x as many SMB deals per month as bigger deals. Not really in SaaS. At least not well. The classic “Sell Me This Pen” test is still a good one, even in SaaS. There is no perfect answer, but it does show a salesperson’s ability to think, to convey enthusiasm, to understand a value proposition, etc.

SMB 109

How to Decide When To Move Upmarket

Tom Tunguz

The strategic question might be catalyzed by increasing cost of customer acquisition in the core SMB segment. In addition, enterprise sales often requires more staff than SMB sales. Field marketing and sales engineering are two essential roles in enterprise sales that have no counterpart in SMB. Third, to what degree do the SMB and enterprise roadmaps overlap?

SMB 100

SaaStr Podcast #213: Tom Tunguz, GP @ Redpoint Ventures On Why Scoring Leads May Actually Be Dangerous

SaaStr

How does this differ when comparing enterprise to SMB? How does this differ when comparing SMB to enterprise? Is it fair to always surmise that when serving SMB one will always have a higher rate of churn? How does this differ when comparing SMB to enterprise? And so what would you do find is in the SMB, some of the companies tie the free trials to month to month. From our perspective, you’d rather be back of house at the SMB rather than front of house.

SaaS Revenue Recognition Challenges with QuickBooks (And What You Can Do About It)

SaaSOptics

QuickBooks is an easy decision for a SaaS startup or SMB. However, subscription-based businesses quickly run into challenges. QuickBooks does many things well, but it doesn’t efficiently manage subscription revenue recognition or subscription billing, especially if you have sales-negotiated behavior in your contracts, which is the heart of financial operations for a SaaS business and is required by ASC 606 and GAAP compliance. Financial Operations

SMB 40

Five years later: Five ways to build a $100 million SaaS business

The Angel VC

The main reason is that I grew up as a consumer software and consumer Internet founder, and even though I had already spent about five years as a SaaS investor when I wrote the post, my experience was heavily skewed towards SMB SaaS.

29 Latin American SaaS Superstars

SaaStock

Omie main goal is to bridge the efficiency gap in Brazilian SMB, helping customers to be more prosperous. Omie is the only SaaS company figuring among 100 fastest growing SMB in Brazil, according to Deloitte Consulting, ranking #3.

SaaStr Podcasts for the Week: May 24, 2019

SaaStr

How does Andrew advise founders on the question of whether to start in enterprise or SMB? What are the benefits of starting in SMB? I had Jason VandeBoom of ActiveCampaign on the show, and he said SMB first works. In the SMB, marketing component is heavier.

As a customer, why do you like one particular Account Executive? What does he or she do right?

SaaStr

Don’t treat an SMB like a F500 company. The best sales reps solve my problems: They listen to my actual problems and show me the best solution using their product — and other products. They learn my business fast, and show me exactly how their product solves my problems. They help me demo, pilot or try the product in whatever fashion makes me the most comfortable. They are fluent in, and honest about, the competition. This saves me time in my research.

SMB 168

The Innovator's Dilemma for SaaS Startups

Tom Tunguz

There’s a familiar path now to SaaS companies that start in the SMB (small-to-medium business) part of the market. In short, new startups leverage a distribution advantage to acquire SMB customers at scale. Early on, the SMB customers finance a startup’s growth and enable the startup to build a broader product over time that eventually becomes more attractive to enterprises. SMB 3-7% 31%-58%. See also: Innovator’s Solution for SaaS Startups.

A landscape of the major SaaS app stores

Point Nine Land

Observation #4: SaaS app stores seem to make more sense for the SMB and mid-market segments. When I listed the major SaaS app stores, I noticed that most of the successful ones are targeting the SMB and mid-market segments.

SMB 60

Why Freemium Negates The Leaky Bucket Myth

Tom Tunguz

It’s no surprise then that QuickBooks suffers from high churn rates, characteristic of the SMB market. annually in revenue of which 17% or $700M+ is derived from this leaky bucket SMB segment. Today, it’s easier than ever for startups to target the SMB market successfully.

SMB 130

?? SaaS Roundup #125

Chart Mogul

This week: Net negative churn in SMB SaaS, US expansion gotchas and forecasting revenue at Zendesk. SMB SaaS and Net Negative Churn. ” Churn is generally far higher in SMB SaaS than in enterprise.

SMB 52