This post is by Lincoln Murphy from Customer-centric Growth by Lincoln Murphy
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Q: What is the next big trends in SaaS?
I think the new trend, which is brand new — is that “Innovation” as a reason to buy SaaS is dead. For now.
But … this will be combined with a rapid acceleration of Digital Transformation.
What do I mean? Well, the IT spend into SaaS has grown far faster than IT budgets overall in the past 5+ years:
A big chunk of that is because the CIO’s role has become over the past half decade, in large part, the Chief Innovation Officer. Either alone or together with a Chief Digital Officer.
CIOs were paid, and celebrated, for bringing “innovation” into older companies especially. They were heroes for finding new tools that improved efficiency.
That’s now all on hold. Cost-cutting and cost management has taken over. No CIO in Q2/Q3 of ’20 is getting kudos for the latest SaaS app that will improve productivity
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How do you benchmark a sales organization in a time like this? This is one of the questions that Jim Benton, CEO of Chorus.ai, answers every day in his <a href="https://www.chorus.ai/blog/category/the-daily-briefing">Daily Briefings</a>. Using data across 10m telephone calls, Jim highlights how the coronavirus is changing sales team performance. Here are some of the highlights from my reading.
Cold calls are down 67%, while connect rates have fallen by about 10% since January. Discovery calls are down 24%. It’s curious that volumes have fallen, given the connect rates have seen such a modest decline.
The risks to deals closing have evolved. Timeline risk, the likelihood a sale drags to a close, has doubled to about 2% of calls. But the more significant risk is employment risk. Conversations discussing layoffs have increased 2.5x to more than 5% of calls. An additional 2% mention hiring freezes.
Click here to view on the original site: Original Post
How do you benchmark a sales organization in a time like this? This is one of the questions that Jim Benton, CEO of Chorus.ai, answers every day in his <a href="https://www.chorus.ai/blog/category/the-daily-briefing">Daily Briefings</a>. Using data across 10m telephone calls, Jim highlights how the coronavirus is changing sales team performance. Here are some of the highlights from my reading.
Cold calls are down 67%, while connect rates have fallen by about 10% since January. Discovery calls are down 24%. It’s curious that volumes have fallen, given the connect rates have seen such a modest decline.
The risks to deals closing have evolved. Timeline risk, the likelihood a sale drags to a close, has doubled to about 2% of calls. But the more significant risk is employment risk. Conversations discussing layoffs have increased 2.5x to more than 5% of calls. An additional 2% mention hiring freezes.