The most satisfying compliment the reader can pay this to tell me they feel personally addressed. Think of your favorite authors and see if that isn’t precisely one of the things that engages you, and often at first without noticing it. A good conversation is the only human equivalent.
Christopher Hitchens, a famous journalist, wrote this in his book Mortality. After writing nearly 1000 blog posts, I have to agree.
Over the last year in particular, Revenue Ops is a term that’s gaining some mindshare in the SaaS world. Revenue operations teams combine marketing operations and sales operations into one team. Yesterday, I heard time a further refinement of this idea: Customer Operations.
As one SaaS executive described to me, marketing operations teams are the engines of the marketing team. The creative marketing functions produce the fuel – the campaigns, the positioning, the art. The engine, marketing ops teams disseminate these assets. They measure their performance and optimize customer acquisition to maximize return on investment.
When I first met Jen Grant, Looker’s CMO, she told me a story from early days of Box, where she was SVP of Marketing. Jen spoke about the importance of creating tension in the marketing message.
Aaron Levie, Box’s CEO and founder, spoke at conferences about the future of collaboration. His message: Box will transform the way employees work. But if you had visited www.box.net, you would have found another positioning for the company. A very simple one. Box replaces FTP.
When should you sell your business? There is no universal to this answer because the question is multifaceted and unique to each company. But we can answer another related question. Given a declining growth rate, when is my company’s value maximized?
Startups strategic value lies within their ability to grow. The faster a company can grow, the more valuable it is. This relationship is remarkably linear.
There are four lies managers tell themselves to avoid one of the hardest conversations in business. Things will improve. Someone in the seat is better than no one in the seat. Let’s transfer the person to another team where things might improve. The termination will hurt morale in the company or the team. I’ve told myself all of these in the past. What’s the best way to move past these and execute the difficult task of letting someone go?
In 2016, the number of seeds has fallen by a 27.6% reduction in the number of seed rounds. But as the chart above shows, the median amount invested in seed rounds continues to increase at about 40% annually. This trend started in 2014 and has continued through the first quarter of 2017. These two forces in opposition netted a 10% increase in total dollars in 2016.
There are three kinds of software value propositions. Software that increases revenue, software that reduces cost, and software that promises improved productivity. To maximize the effectiveness of your customer success efforts, you need to understand which type of software company you are building.
Software that increases revenue is the easiest to sell. For most companies, growth is the most important priority. Growth trumps cost-reduction because growth increases the value of the business more. As a result, products that grow revenue enjoy shorter sales cycles and larger budgets. Most sales acceleration and lead generation software falls into this category.
I once asked a VP of Marketing at a top SaaS company how she thought of content programming. What is the right type of content to create? I asked her. She replied with a brilliant little insight, “I look at way the best content marketers in the world do it. The TV networks.”
News dominates the early morning. Then, daytime television takes over targeting those who stay at home. At noon, news for those who power lunch. Soap operas and game shows after midday. News in the afternoon as people come home. Game shows, sitcoms, and drama for after-dinner entertainment.
Most startups go to market with the intent to differentiate their product. Each one of us has an idea what might make a better CRM, marketing automation suite or customer support. Other startups prefer to combine a product innovation with a reinvention of the sales process.
The four key innovations in SaaS sales strategies I’ve observed so far are:
After a SaaS startup has gained traction with SMBs and mid-market customers, they often feel a pressure to move up-market. Sometimes, demand for a product is so great, larger customers the pull the company up-market before they are ready. The startup finds itself in a critical position - both the product and the sales motion must evolve quickly.