Just a quick post to plug my upcoming appearance on a podcast / live interview hosted by PMM Hive, a product marketing community that was recently launched by my old friend and colleague Crispin Read, and that’s already loaded with some superb product marketing content. Check it out.
I’m excited about this session both because it’s one of my favorite topics and because Crispin is one of my favorite marketers. The topic is critical because too many marketers (and CEOs) hit rewind/play on their last successful experience without considering their situation and the marketing strategy that should support it. Crispin’s great because he’s world-class at messaging and positioning, sharp as a tack, enjoys what we’ll call “spirited debate,” and has a dry English sense of humor that keeps things not only interesting, but fun.
The session is on July 8, 2020 at 9:00 California time. You can register here if interested. Playback should be available after the event if you’re interested and can’t make it.
Hope to see you there!
Just a quick post to highlight the fact that last week I was the featured guest on Episode 142 of the Official SaaStr podcast produced by the SaaStr organization run by Jason Lemkin and interviewed by a delightful young Englishman named Harry Stebbings (who also runs his own podcast entitled The Twenty Minute VC).
In the 31-minute episode — which Harry very nicely says was “probably one of his favorite interviews to record” — we cover a wide range of my favorite topics, including:
- How I got introduced to SaaS, including my experience as an early customer of Salesforce in about 2003.
- Challenges in scaling a software business, learned at BusinessObjects as we scaled from $30M to $1B in revenues, as well as at MarkLogic and Host Analytics.
- My favorite SaaS metric. If you had to pick one, I’d pick LTV/CAC.
- Why simple churn is the best way to value the annuity of a SaaS business.
- The loose coupling of customer satisfaction and renewal rates.
- Why SaaS companies need to “chew gum and walk at the same time” when it comes to driving the mix of new and renewal business.
- User-based vs. usage-based pricing in SaaS and how the latter can backfire in disincenting usage of the application.
- My thoughts on bookings vs. ARR as a SaaS metric. (Bookings is generally seen as a four-letter word!)
- Why SaaS companies should make “the leaky bucket” the first four lines of their financial presentation.
- Why I think it’s a win/win when a SaaS company gives a multi-year prepaid discount that’s less than its churn rate.
- Why I view non-prepaid, multi-year deals as basically equivalent to renewals (just collected by finance/legal instead of customer success.)
- Why it’s OK to “double compensate” sales and customer success on renewals and incidental upsells, and why it’s OK to pay sales on non-incidental upsells to existing customers (don’t put your farmer against someone else’s hunter).
- Why you can’t analyze churn by analyzing churn and why you should have a rigorous taxonomy of churn.
- My responses to Harry’s “quick fire” round questions.
You can listen to the podcast via iTunes, here. Enjoy!