today’s the deadline for jason lemkin and me to turn in the manuscript of our book, entitled From Impossible To Inevitable: How HyperGrowth Companies Create Predictable Revenue.
who among us hasn’t had a day when we wish we could hit rewind? but one thing is for sure: it’s easier to learn from failure; what went wrong is obvious & leaves a resounding impression you can’t ignore.
The following is an excerpt from The Predictable Revenue Guide To Tripling Your Sales:
Don’t let the Fear Of Missing Out (FOMO) muddy your market & message
When your company is struggling to generate quality leads, first ask yourself if you’ve found a Needy Niche. Of all the kinds of companies who could use you…and all the kinds of buyers who should want you… which ones need & want you so much that they’re willing to expend their attention, energy & money to buy and use you?
Our featured author today is Seth M. List, Director Market Development at Umbel. He joins us for the latest installment of the Inside Sales Practioner Series.
Over in the Sales Development Rep Forum on LinkedIn, Trish Bertuzzi recently posed this question:
What are your most effective SDR productivity hacks?
While my hack isn’t explicitly for sales development. It is wonderful nonetheless for Chrome users.
Chrome is awesome for quite a few reasons. As it relates to sales development, sales and/or sales management, this one is my favorite.
In a nutshell, what I’m going to teach you to do is perform Salesforce,
LinkedIn, Wikipedia, Google Drive, Hoovers, and more searches directly
from Chrome’s URL bar using custom keywords.
It takes a bit of explaining, but stick with me! It’s worth it.
I’ve customized Chrome utilizing a custom keyword (sfdc, linked, wiki, drive) to initiate the search. Once customized,
SaaS businesses develop intimate, long term relationships with their SaaS customers. Keeping that relationship positive and aligned over the years is a real challenge. In fact, many public SaaS companies have yet to turn a profit. If they don’t keep their customers around for years, then all that capital invested in customer acquisition will have gone to waste.
This is the third post in a series that explores the importance of SaaS customer alignment across the SaaS customer lifecycle. The last post examined the challenges of aligning SaaS customer acquisition, resulting in a short a list of SaaS Customer Alignment Tips. This post continues the list of tips into the second half of the SaaS customer lifecycle by examining the challenges of aligning SaaS customer success.
Churn Starts on Day One
It is typical in B2B software for customer acquisition to eat up 50% or more of total costs. In traditional licensed software, that cost is immediately recovered when a deal is closed by the revenue of the deal. There is very little uncertainty about the value of any new contract: it is the margin reaped between license revenue and acquisition costs. In SaaS, however, customer acquisition costs are recovered over time as the customer renews each period. There is a great deal of uncertainty about the value of any new contract, because the customer might cancel early or stick around for years.
The economics of a SaaS contract are like that of buying a stock or a bond, where you make an up front investment based on the promise of future returns. As the future unfolds, the value of that investment has little correlation to the price that you paid. It is determined by how effectively the underlying business manages its future. In SaaS, the work doesn’t end when then deal it is signed. It begins, because churn starts on day one.
SaaS Customer Alignment Tip #7
Don’t Fumble Your Handoffs
Separating hunters and farmers is a common SaaS sales best practice. Deals are closed by an aggressive quota-carrying sales team: the hunters, and then handed over to a more service oriented group of account managers and customer success reps for on-boarding, renewals and up-sell: the farmers. Your SaaS customer has only one SaaS customer life cycle. Every time you hand-off a SaaS customer relationship, you create the opportunity for that SaaS customer to fall through the cracks in your process. Continue reading "Aligning SaaS Customer Success"
my buddy Sam Laber is the director of marketing at Datanyze. (check them out for free via their free browser extension). here’s a great article he wrote on subject lines – what do you think? what strategies have consistently worked for you in the past? comment below!
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