Top SaaS Insights of the Week:
Once you have achieved initial traction and some nice growth, it’s time to go bigger! And the way to do that is to hire your first sales and marketing team. According to Jason Lemkin: You’re going to need about $2.5-$3M to fund your first great revenue team. “So you don’t have to figure out how to fund a World Class Revenue Team on Day 1, or even Day 365 probably. But you need to start figuring it out as you pass about $1-$1.25m in ARR.”
“Of the ten most important metrics on a startup’s financial statements, revenue might seem to be the most important. But it isn’t.” So what matters more? Tomasz Tunguz tells you in why revenue isn’t the most important financial metric for startups.
Using your system does not equal success and the SaaS customer success movement is pushing customers to redefine success. “Sometimes I think we should call it “Customer Health” or “Customer Advocacy” because that’s a better description of what Customer Success organizations do: We proactively check in with customers to look at certain indicators of health and to make sure they’re getting all of the value they can out of their software subscription.”
In The Customer Intent Wake Up Call, Christine Crandell, President of New Business Strategies says organizations need to walk the customer engagement talk by understanding customer intent. “I define customer intent as: the actions, decision or result that a buyer is currently working or looking to realize for the specific customer journey step they are in.”
“B2B companies are realizing that the real rockbed of building enduring customer relationships lies in the perception customers hold of value.” And the definition of value changes along the relationship lifecycle. And your ability to deliver customer-defined value is closely tied to your company’s culture, which is why outside-in customer experience is the best offensive strategy.
Super SaaS Fundings:
Did you notice the new format of CrunchBase emails? Loving it!
Orchard Platform – Platform to enable direct lending with intelligence, speed and scale raised $12M in Series A funding
Lytics – Marketing activation platform raised $7M in Series A funding
Recurly – SaaS company providing recurring billing and management as an outsourced service raised $12M in Series B funding
Mozido – Platform of cloud-based, white-label, mobile, payment, shopping and marketing solutions with real-time customer analytics raised $185M in Series B funding
Boostable – Advertising for sellers on marketplaces raised $2.6M in Seed funding
On a related funding note, Mattermark has split the Mattermark Score into two – a Growth Score and a Mindshare Score – pretty cool stuff. And using the new Mindshare Score, Mattermark created a quick reference ranking the 500 Startups Demo Day Batch 10 so we can see it in action!
Newest SaaS Services:
TouchStream – Automated email campaigns for salespeople and hustlers
Trackmemo – News feed of updates from all your cloud apps
Insightible – Marketing analytics made easy
Hive – First free unlimited cloud service in the world
Float – Team scheduling done right
Flowtale– Real-life analytics for retailers
An Infographic of Interest:
Other Great Weekend Reads:
“I knew there was an increasing problem with the culture in the design/startup community when individuals started introducing their products by talking about how quickly they’ve built them, rather than how efficiently and the quality of it after doing so.” When did MVP move from Minimum Viable Product to Minimum Viable Problem? Cat Noone says it’s called ship not shit!
All of your users are using all the features in your product, right! Of course they’re not – get real. “When planning your roadmap, and where the team spend their time, it’s useful to ask “how many people are actually using each of our product’s features?“ Visualize what they are using by plotting all your features on two axes – this is the first step outlined in before you plan your product roadmap.
Gorilla? Chimp? Monkey? “In their outstanding book, The Discipline of Market Leaders, Michael Treacy and Fred Wiersema argue the only way to achieve market leadership is through a singular focus on one of three strategies: Product leadership, cost leadership or customer intimacy leadership. The most common of the three strategies pursued by technology companies is product leadership. Here’s how you can achieve it, and why you need it to win big.”
And in case you missed the latest from the Amity blog: 5 Key Steps to Developing a Career Path for your Customer Success Organization
Want something added to the SaaS 2.0 Tattler – let us know! And let us know your take on the SaaS 2.0 Tattler in general – we’d love your feedback.
Curated by the team at Amity using the outstanding tools provided by Product Hunt, BetaList and CrunchBase. We encourage sharing and subscribing!