Lessons Learned from 3000 SaaS Companies – Partrick | SaaS Conferences – Dublin | SaaStock 2016
Keynote at SaaStock16 Patrick Campbell of Price Intelligently shares his learnings.
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Summary:
– focus on retention and monetization instead of just acquisition
– talk to 50+ customers
– survey customers too
– Develop customer personas and have numbers on them : LTV, CAC, WTP (willing to pay)
– Using personas develop chart of features vs revenue, and graph personas… Relative Preference Analysis
– Find right pricing point and price elasticity for your product.
Summary: do marketing
ThunderousGlare Thanks!
Great
Thanks a lot for this summary!
Very interesting and helpful. Thank you
To overcome acquisition addiction:
1. know your numbers
2. quantify your buyer persona
3. implement a customer development process
Know your numbers
Go to customers, talk to them
Price sensitivity analysis
Be customer focused
That might have been the most well executed 30 min presentation that I’ve ever seen.
Yeah, so clean
WOW!!! This is an amazing story to tell AND is not just relevant to the SaaS industry. I’ve spent a career in other industries and this “sickness” on the primary focus of new acquisition versus how to retain and monetize current customers is prevalent in lots and lots and lots of business executives in a lot of different companies/industries. This lack of focus allows for competitors to enter into the buying decision which then starts the “commodity” conversion of the product. Very good stuff and would recommend for anyone in or out of the SaaS industy
18:11 – 18:15 ? that summarizes the spiral that the companies find themselves in & what can get them out of it.
Fantastic, thank you for sharing, amazed by your knowledge, the way you put it across, subtle sense of humor and lovely pitch
I love data!! Thanks for sharing this amazing talk ?
I totally agree with this gentleman – I used to focus on “logo quantaties” but have realised that monetiziation and retention is way more valuable
If there is one thing you should get from this video, It is: “Talk to your customers”. Although it looks like a pretty basic recommendation many product managers ignore it and prefer to rely on reports in the comfort of their offices.
Awesome look from nowadays into the future of your SaaS. Of course, if your SaaS will survive before future comes.
Great lecture!
Great delivery, well worth the watch.
Thank you for sharing. Invaluable information indeed.
More Logos – reminds me of a software reseller who took pride in covering an entire powerpoint slide with logos of their customer base!
“It costs 10x more to acquire a new customer than to retain one”
Ryan Howard, MBA
Dunder Mifflin New York
Ex VP
@Thomas Morgan never made a sale!
Youngest VP in the companies history!
Jeff bezos created Amazon by being a customer centric company in 1994. After many year, only few companies do it.
Isn’t that hilarious
They want more logos because they get money from VCs, not from the market. A rational strategy in an irrational environment.
yes, they acquire more customers that influence the big company to acquire the startup & the founder get an wealthy exit point.
Hah, exactly what I was thinking to myself. Came in here to comment and saw you did already. Easy ? is to blame for a lot of this reckless focus on customer acquisition, esp a freemium model which has 90pc of free customers with 10pc paid. Who’s making money in this scenario??
“What’s interesting about this is…”
Everything. The whole video was very insightful. Thanks
I’m thinking about acquisition, monetization, and retention constantly, even before we had any product in the market yet. It’s common sense! I’m really surprised by these numbers. It’s been 3 years since this was uploaded, I hope things have changed since then. Acquisition without retention? This is a nightmare.
I work head to head with SaaS companies, and you just can’t imagine the churn rates caused by not caring about customer retention, as well as the really poor monetization caused by the poor CRO on their websites…a real nightmare!
I’m a consultant, by the way.
Thnx for presentation, its very nice 🙂
Can you share the slides plz ?
NO