Welcome to Episode 162! Olof Mathé is the Founder & CEO @ Mixmax, the startup that allows you to be a sales pro, providing powerful analytics, automation and enhancements for your outbound communication and a product that has achieved almost the impossible in SaaS, true viral growth and a $0 CAC. As for Olof, prior to Mixmax he led the team that built Inkling Habitat, now adopted by the world’s largest publishers and before that he was an entrepreneur and worked at Skype and McKinsey. In Today’s Episode You Will Learn:
- How Olof made his way to the bay and how he made his way into the world of SaaS with the founding of Mixmax.
Why does Olof believe that customer success is the new marketing? What does this mean for the right time to hire your first customer success rep? What are the other subsequent advantages Continue reading "SaaStr Podcast #162: Olof Mathé, Founder & CEO @ Mixmax Shares How To Achieve True Virality in SaaS with $0 CAC"
- Hiring any reps you wouldn’t buy from. This never works out in the early days. Later, once you have a strong VP of Sales, it’s fine though.
- Hiring a “VP” of Sales before you have 2 scaled reps and a repeating process. Never works out.
- Crazy quotas. You can’t set folks up to fail 100% for sure. Especially the first few months, maybe even make their quota simply equal to their salary. Your sales reps need to eat.
- Expecting a closer / in-bound rep to do out-bound. They can’t. You have to hand in-bound folks leads. They are no good at generating them.
- Expecting an SDR to close. Hire stretch reps if you want, but someone without any closing experience likely can’t close at your startup no one has ever heard of. Unless the product is very cheap and the prospect is close Continue reading "What are some of the “ultimate sins” when it comes to marketing and/or sales in early stage companies?"
- Find a truly great co-founder. Slow down. There is too much to do in SaaS — sales, customer success, product, engineering, demand gen, etc. If you don’t have a great co-founder, slow down and find one.
- Get those First 10 Customers — However and Whenever. We all get the first customers differently, based on who we are and what our app does. Outbound? Events? PR? Content Marketing? Try it all — and lean in on what you are good at. Don’t worry if you aren’t sure where the Next 10 will come from. Just get the First 10 however, whenever, wherever.
- Understand the Market Better. Most founders don’t understand their markets well enough in the beginning. They don’t do enough interviews, meet enough potential customers, do enough work, etc. They shoot from the hip too much, and assume too much from their own experiences and what they read Continue reading "What should be the priorities of SaaS founders during the early stages?"