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Salesforce is worth $113 billion. 1% of $113 billion is $1.13 billion. ServiceNow is worth $34B and Workday is worth $33B. 3% of $33-34B is $1B. Atlassian is worth $20.5B. 5% of $20.5B is $1B. Why am I doing all this simple math you might ask? We have reached a point in SaaS where a small fraction of an incumbent is a billion-dollar company. If you start a business tomorrow that is able to cleave 1% of revenue from Salesforce, you will have built a billion-dollar business. 1% is not that much.
For all the time and money we spend attracting customers to our website, isn’t it odd how little we spend trying to convert them? These live chat stats will show you the conversion power of messaging. According to an eConsultancy report , for every $92 spent acquiring prospects only $1 is spent converting them. Sure, that dollar could give you returns in spades, but in reality the odds of that are no better than a craps table in Las Vegas.
Churn is bad for software-as-a-service (SaaS) companies. Very bad. But knowing there’s a churn problem is one thing; fixing it is something else. To bring down churn, we need to understand what’s behind the numbers. Why are customers leaving? Different causes will point toward different fixes. Poor product performance Sometimes the solution simply doesn’t deliver as advertised.
AI adoption is reshaping sales and marketing. But is it delivering real results? We surveyed 1,000+ GTM professionals to find out. The data is clear: AI users report 47% higher productivity and an average of 12 hours saved per week. But leaders say mainstream AI tools still fall short on accuracy and business impact. Download the full report today to see how AI is being used — and where go-to-market professionals think there are gaps and opportunities.
A sales CRM is a foundational tool for modern sales organizations. Here’s a closer a look at the evolution of customer relationship management and where it’s headed. Let’s face it—most B2B tech brands are unsexy. It’s not a bad thing, but you won’t see hundreds of customers lining up outside at 4:00 am to wait for the next big product release from some IT cloud storage company.
How to Calculate the Rule of 40 in SaaS The rule of 40 in SaaS is simple financial framework that balances revenue growth versus margins. It’s a rule of thumb to quickly determine the health and/or attractiveness of a SaaS company. You’ve probably heard of the rule of 40, but the application of the formula […]. The post How to Apply the Rule of 40 for Your SaaS Company appeared first on The SaaS CFO.
How to Calculate the Rule of 40 in SaaS The rule of 40 in SaaS is simple financial framework that balances revenue growth versus margins. It’s a rule of thumb to quickly determine the health and/or attractiveness of a SaaS company. You’ve probably heard of the rule of 40, but the application of the formula […]. The post How to Apply the Rule of 40 for Your SaaS Company appeared first on The SaaS CFO.
Startups are business machines engineered to grow quickly. The forces of hypergrowth exert enormous strain on every aspect of the company. Internal break all the time as the company moults into a new skin. This is one of the most important things to keep in mind when hiring. Every lead hired today, whether marketing , sales, engineering or product, will have a very different job nine months from now, much less two years from now.
Growing up, I was surrounded by video games. In my house, we had the NES, Nintendo 64, Game Boy and a bunch of PC games. I would play video games for hours on end, only stopping for the odd toilet break. But as my love of gaming grew, it became obvious that I wasn’t drawn to the typically popular action or racing games. Instead of Half-Life or GoldenEye, I was drawn to simulation games such as SimCity , The Sims and Theme Hospital – titles that rewarded strategy over speed, patience over practic
If you run paid ads, chances are you have a mobile campaign or two (or two hundred) live right now. Whether we like it or not, most of us live tethered to our smartphones, relying on them to entertain us, keep us connected, and guide us to the nearest bike repair shop. And as such, behavior on mobile is shaping how marketers need to operate. Over the last four years, we were inundated with messages declaring it was finally “the year of mobile”, so much so that it felt like our industry was cryin
Speaker: Pete Uselman, Director of Partner Experience at Wind River Payments
Most integrated payments providers share a percent of the payment revenue with their software partners. But, oftentimes, that revenue share is only a fraction of the true income potential software providers can realize. If you want to maximize income opportunities from your payments program, check out Wind River Payments’ webinar-on-demand.
Finding the best live chat software in a crowded marketplace can be tricky. Fortunately, this just means there’s bound to be an option that fits perfectly with your business model. If you owned a store, you could directly interact with the customers who come in each day. The same principle doesn’t traditionally work with websites. Sure, you can see the visitors who pop in, thanks to tools that gather data on where they’re coming from.
Whether you’re creating ebooks, music, or software, you need to be able to sell your digital products on your website powered by WordPress. However, many businesses often realize that is easier said than done—especially when it comes to scaling globally. There are plenty of third-party tools out there to help you get an online store up and running on WordPress, however, your business can only get so far with piecemealed point solutions managing the ecommerce experience. .
How long should you let a customer use your software before they sign a contract? You could offer them a 7 day free trial. Or 14 or 21 or 30 or 90. Longer trials might be better. The customer could delve deeper into the product, become more committed and sign a larger contract. Shorter trials drive urgency, weed out the uncommitted, and result in shorter sales cycles.
The phrase “cross-functional” is most commonly used to describe a team made up of of people with different functions or skills. At Intercom for example, our product teams include designers, programmers and product managers , unique roles working together as one. Or you might hear the term used when teams from different parts of a business work together on a big project, like the launch of a new product or release.
Speaker: Ben Epstein, Stealth Founder & CTO | Tony Karrer, Founder & CTO, Aggregage
When tasked with building a fundamentally new product line with deeper insights than previously achievable for a high-value client, Ben Epstein and his team faced a significant challenge: how to harness LLMs to produce consistent, high-accuracy outputs at scale. In this new session, Ben will share how he and his team engineered a system (based on proven software engineering approaches) that employs reproducible test variations (via temperature 0 and fixed seeds), and enables non-LLM evaluation m
How many Facebook ads do you see in your news feed a day? According to Social Media Examiner , 93% of marketers use Facebook advertising regularly. That’s about 3 million businesses using Facebook to market themselves. Every day these brands text, call, email and target us with their Facebook ads, overwhelming us with offers. In fact , we’re so used to being targeted by brands everywhere on the web that our brain automatically tries to block out all the noise and ignore those ads.
The SaaS Marketing Journey -- that arduous road that sees newcomers to your business become active promoters of the products you offer -- is a complicated beast, to be sure. However, just because the tasks ahead pose a significant challenge to your SaaS business, it doesn’t mean that success is beyond your reach. In fact, a number of companies have wisely leveraged SaaS content marketing to gain customers and boost awareness.
When a high-stress job meets low emotional intelligence (EI), doomsday happens. That’s what research, experience, and common sense will tell you. And that’s why achieving your success potential in sales is directly proportional to your emotional intelligence in sales. Sales is tough, but even that is an understatement. Regardless of role, most sales professionals work well beyond 40 hours per week based on a HubSpot study.
Solve complicated scenarios with great communication. There are a few main difficult scenarios you’ll most likely face as a support representative. In customer service, every interaction matters, and there is no 100% right or wrong way to deal with any situation. Even though the ability to think on a case-to-case basis is one of the […]. The post 5 Customer Service Email Templates for Tough Situations appeared first on Groove Blog.
For SaaS businesses, improving retention is one of the easiest and most effective ways to drive revenue and profits. With a clear link between failed payments and customer churn, having a robust failed payment recovery solution isn’t optional—it’s essential. Achieving your retention goals starts with the right solution.
In a post earlier this week, I argued 1% of Salesforce’s revenues creates a unicorn. More broadly, I said that the biggest SaaS companies are so large, that they must have underserved customer segments. And there is an opportunity for a startup to identify that underserved segment, build a product to serve it better, and build a unicorn. I received a lot of comments about this post, but not the kind that I expected.
“We wanted flying cars, instead we got 140 characters.”. – Peter Thiel. People in tech commonly overestimate the impact of big things and underestimate the power of small things. We constantly talk about the next big thing that will change everything, the next revolution that will inevitably happen. In the past few years it has been AI, chatbots, VR, blockchain and whatnot.
If you missed it, I’m done talking about churn. If you have a churn problem, read this post and follow my directions. Churn won’t be an issue for you anymore. Now we can move onto GROWTH ! And the first order of business is understanding the difference between Sales and Expansion and why knowing the difference is so important. I’ve said that Sales is part of Customer Success before , and by that I mean Sales – like every other part of the company – should be governe
Imagine if you could give every visitor to your site an experience targeted particularly to their interests. Doing so might be easier than you think. You don't need to write special content catering to various demographics and interests. And you certainly don't have to write personally tailored posts. All you need is a bit of information about your readers.
Simplify omnichannel payments with a solution that unifies every channel through your platform. By integrating front-end systems like online, mobile, and in-store payments with robust back-end infrastructure, you can deliver a seamless payments experience without the need for heavy engineering. Omnitoken technology enhances security by tokenizing card transactions for reuse, enabling merchants to drive cross-selling opportunities.
Success begins with setting goals. Without goals, your team lacks the key elements it needs to win — a direction to follow and the encouragement to stay motivated in sales. In contrast, goals lend clarity and purpose to your organization. They enable your team to track collective and individual performance. Goals also help assess the efficiency of tools and methods, and formulate strategies for improvement or growth.
Every customer service email is an opportunity to build stronger relationships. Any given company probably sends hundreds of customer service emails daily, and it can be easy to lose sight of just how important every single one of them is. But for any given customer, it might be the only interaction with your business that […]. The post 10 Tips for Sending Better Customer Service Emails appeared first on Groove Blog.
How good are you at converting free trials into paid users? If you’re like most companies, probably not as good as you’d like. According to a recent study , companies end up converting between 1–10% and 40–50% of their free users. Even when you knock it out of the park, you’re leaving a lot of potential revenue on the table. To illustrate: Let’s say you crush it and achieve a 50% conversion rate out of 5,000 free trials this month.
In sales, it’s normal to spend hours rehearsing for an upcoming demo and fine-tuning the deck. But when it comes to the discovery call, many of us assume we can wing it. It’s strange because the discovery call is how we uncover critical information early in the sales cycle. Details like use case and a prospect’s fit for our solution help us prioritize our deals.
Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng
This week: An analysis of Slack's landing page copywriting, why SaaS content marketing sucks and is it time to rethink freemium? In SaaS Roundup, we comb through the noise to find you only the best SaaS-flavored reads of the week — just our top three. You can also receive SaaS Roundup in your email inbox every Friday — just drop your email here and you’ll receive the next issue.
Somewhere along the line, we lost the idea to “Give the people what they want!” As marketers and as startup founders, that idea has always been our guiding star. But along the way, that simple message tends to get diluted, becoming “Give the people what we think they want,” or even worse, “Give the people what will make us the most money.”. What happens all too easily is that the people don’t get what they want, or get what they want at first, then find themselves saddled with a version of your
If there’s one thing I hate as much as you do, it’s fluffy sales advice with no teeth. But I’ve got to be honest – sell like a human or be human is the one piece of sales advice I really struggle with. I love it because it’s actually true. And it’s a huge problem today with the advent of technology and the internet where everyone wants to automate the sales process and make it robotic.
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