The majority of meetings are a waste of time. And in my opinion, one flavor of meeting that tops the charts in uselessness is the “status update” meeting. You know this meeting— the meeting where everyone gets together to share what they’ve been doing. The only time in which a standup is truly beneficial is in the run up to a product launch.
The value of features has reportedly dropped by 60-80% in the last 6 years, and with AWS and the like making it easier to build software, each software product has on average 3X the competition than they had 3 years ago. How do you compete, survive and thrive now? First, you need to understand how software companies really grow.
In the SaaS world there is often a debate between “best in breed” point solutions and all-in-one or full stack solutions. Which path do you think wins out over the next 5-10 years and why? Right now, the answer seems to be “both”. Best-of-breed solutions seem to have been the big winners in the current generation of SaaS, at least on the surface.
The stage is set. You define a revenue target and let the best of your crew run to achieve it. Marketing, Sales, and Finance are doing their things well. However, something is amiss. Your machinery is not as well-oiled as you want it to be. The unseen friction caused by siloed data and duct-taped processes sucks a fair share of your revenue into a chasm.
Part 2 of a 4-part series: User Onboarding Starts Like Building a Car. When assembling a car, you can have all the parts you need but if you don’t know what tools to use, there’s a slim chance you’re going to build a car that can get you from point A to point B. User onboarding is no different.
Too many SaaS companies end up in this situation. They launch a product, start bringing in some solid revenue, and put all their efforts into acquiring new customers. Their success blinds them to the hidden dangers every SaaS company faces—dangers like high customer churn. Understanding the top reasons why customers churn, and how to adapt is vital.
Patrick profitwell churn@
To uncover the challenges and competing strengths Product-Led organizations employ, we embarked on a mission to define Product Led experience in the SaaS landscape. To achieve this, we surveyed 40 SaaS organizations and 50 executives who own or lead Product-Led Growth practices.
Your organization’s sales leader was likely hired to reach ambitious sales goals, motivate a hungry sales team and unlock new markets. Unfortunately, a great salesperson can sell themselves to a CEO as a great sales leader even when they really aren’t cut out for that job (ie. Michael Scott).
Going viral isn’t a sound strategy. But you can copy the tricks that have taken others to viral marketing status. Here’s where to get started. In this article, I am going to share how we built a lead magnet that went viral and generated some incredible revenue.
Jake indiehackers growth@
I saw many other people on forums asking for integration and noticed the threads were lengthy and old; the idea for Zapier emerged as a direct result of listening to the needs of the people who would eventually become our core customers. The customer has to be at the forefront of any business.
Wade openviewpartners business@
Churn is a scourge on subscription businesses. When your revenue is based on recurring monthly or annual contracts, every customer who leaves puts a dent in your cash flow. High retention rates are vital for your survival. So what if we told you there was a way to predict, at least to some degree, how and when your customers will cancel?
Patrick profitwell churn@
Customer support has always been important in the SaaS industry, but its importance is only growing. Customers expect more authenticity in their relationships with the companies they do business with — and excellent customer support is perhaps the most critical component of customer relationships.
Product and customer success has more in common than they think. They both focus on strategy, customer roadmaps, and putting the customer at the center of their focus. But the product management team has one very important task which no other team in SaaS is held accountable for.
[Twitter thread] I recently left Stripe after 4.5 formative and magical years. Some reflections on what made working at Stripe feel different than working other places: 1/Turpentine, 2/Writing, 3/Meticulousness, 4/Principled decision-making, 5/Ambition, 6/Talking up, 7/The API metaphor.
I know how to use upselling to increase customer retention and leverage Expansion Revenue. It makes a real difference. It’s actually really simple, but there are few steps to nailing your Expansion Revenue and I’m sharing them in this new video.