A PQL is a prospect who entered the sales funnel through a free trial or a freemium tier and has experienced the value of your product. (Think back to the good old days when you were on the free tier for Slack or Zoom). PQLs typically have a much higher conversion rate, often between 15-30%, compared to 2-4% for Marketing Qualified Leads (MQLs). This article walks you through 1) what PQLs are, 2) how to incorporate them into your sales motion, and 3) how to measure their success.
The cheap-money era of 'growth at all costs' has ended, and SaaS companies are now focused on efficiency, durability, and profitability. In a recent survey by Gainsight, executives at SaaS companies were asked to rank their top strategies amdist the economic headwinds: the winners included 1) Expansion and Cross-sell, 2) Partnerships, and 3) Automating Customer Success. This article walks you through how SaaS companies can reduce costs while driving growth through a Partner CS motion.
For SaaS companies, *what* you charge is not the determining factor of your company's success. Instead, *who* you charge and *how* you charge them have a bigger impact on how fast your company can grow. But to establish the who and the how for your product, SaaS companies need to revisit their pricing and packaging strategy and align it with their target market and go-to-market motion.
A pricing and packaging strategy boils down to three core components: 1) segmenting your target audience, 2) identifying the main drivers of value for each segment, and 3) positioning your packaging to best showcase that value. Ultimately, good packaging is simple. It helps increases the velocity of sales opportunities by making it easier for prospects to self-select into an offering. This is especially important for Product-Led Growth SaaS companies that have a higher deal volume and quicker sales cycles.
Predictions and more predictions. Dave Kellogg, a well known SaaS thought leader, offers his predictions for the coming year. But like all intellectually honest individuals, Dave also revisits last year’s predictions and evaluates how he did (I’ll let you be the judge of his performance). This article is packed with 10 predictions for 2023 and the impact they may have on your SaaS company and the industry as a whole.
Two of my favorite predictions from Dave include: 1) 'The great pendulum of Silicon Valley swings back' and 'Retain is the new add.' In the first prediction Dave breaks down the oscillating motions that riddles Silicon Valley's history and the second one highlights the emphasis SaaS companies have now placed on retention.
'BAM!' This is what your boss will say if you close a deal with a new ABM strategy (probably not, unfortunately). But to spell out the strategy correctly (pun intended), ABM is a go-to-market strategy that focuses on a clearly defined set of target accounts within your market. By starting with the account first, sales and marketing teams can craft highly personalized cadences that encompass a variety of data points. This article walks you through 7 Key Steps that will help impress both your boss and your prospects with a new ABM strategy.
Have you ever heard of a 'Pillar Page?' If so, you must be a marketing ninja (I didn't know what it was before I read this article). For starters, a pillar page is a piece of content that covers a broad topic and weaves together a wide range of subtopics. The purpose is to showcase your subject matter expertise and build a collection of content that attracts backlinks, organic traffic, and newsletter subscribers. This article walks you through what pillar pages are in more detail and why you need them for your SaaS blog.
The length of a company's sales cycle is affected by a number of factors: the intent of the prospect, the buy-in from decision markers, and of course, the procurement process. But industry averages give companies a way to benchmark how efficient their funnel is (at least on a high-level). For example, companies with an ACV of less than $2,000 have an average sales cycle of 14 days, but this can vary depending on your sales motion and product. This article walks you through six different ACV ranges and their typical sales cycle length for B2B SaaS companies.
As we approach the halftime for the first quarter, companies with an average sales cycle longer than 30 days might need to generate new pipeline in a pinch. Luckily for their sales reps, one quick way to chum up hand raisers is to build a targeted list based on your personal connections. This article walks you through the four ways sales reps can create new leads by using first and second connections to warm up their cold emails.
Despite the pace of innovation surrounding AI-powered applications and platforms, the development behind the 'foundation models' (the AI models that power these apps) is not happening fast enough. Today, developers face a tradeoff between leveraging proprietary models owned by third parties or building off of open-source models, which require a deep understanding of the tech. This article walks you through the factors all companies should consider as they look to add AI-powered features and standalone applications to their roadmap.
From an apartment-based startup to a $150 billion+ company, for over 20 years, Salesforce has been 'eating the world.' At the center of the company's success is its strategy of building authority and trust through customer-centric content. Salesforce excels at using customer success stories, testimonials, and outcome metrics to convert prospects into paying users.
The goal is to showcase how customers can succeed with the platform and establish the company as an industry leader. Alongside success stories, Salesforce leverages dedicated landing pages for specific industries and keyword glossaries to tailor the messaging and dominate search.
Although churn is one of the top metrics to track for SaaS companies, the challenge is that retention is often a lagging indicator of whether your product adds value for your customers. Once they issue a notice to cancel, it's too late to save them (most times). To get ahead of a leaky bucket scenario, your company should focus on metrics that inform customer engagement.
There are many ways to measure engagement, but a good starting point is analyzing customer usage data. Examples of this include tracking how often customers are running searches, uploading files, or exporting records. The goal is to measure the criteria that define what success looks like for customers. Once that's in place, then you can add proactive strategies to flag customers who are at risk of churning.
One trend to look out for this year is SaaS companies adopting a hybrid pricing model. That is where companies support multiple go-to-market motions, monetization streams, and pricing structures. At the center of a hybrid model is usage-based pricing, which accelerates net expansion and feeds into more growth at scale, making it an attractive model to adopt. This article walks you through the pricing predictions from 2022 and those that will transform companies this year.
If you haven’t revisited your product's pricing already, it might be time to give it a second look. In this current inflationary environment, there are several ways SaaS companies can combat margin erosion. You can focus on selling premium products, adjust your packaging, or simply charge more. A well-thought-out price change or contract-based escalators can have a meaningful impact on your revenue. This article walks you through a few strategies companies to combat inflationary pressures.
Well, not all B2B SaaS lead generation is dead, just the single-touch campaigns that have generic messaging. When generating new demand for your business, you should follow these four practices to be successful: 1) invest in demand generation channels, 2) conduct your customer interviews, 3) run multi-touch ad campaigns, and 4) build a strong ABM foundation. This article walks you through a few strategies you should leave behind in 2022 and those you should double down on this year.
The circulating concern on the top of everyone’s mind right now is the idea of us humans being replaced by AI, particularly when it comes to writing copy. Although parts of our job will be streamlined, the future looks more augmented than automated. We will likely work alongside tools like ChatGPT to enhance the performance of our content. This article walks you through different scenarios where we can all leverage generative AI to create impactful content.
