We are serious about our RevOps data, and many of our members are hungry for benchmarking, so we surveyed 100+ SaaS companies in partnership with Everstage in a report called The Impact of Economic Downturn in the Saas Industry, which you can download here.
Results showed that 67% of companies didn’t meet their H1 Attainment, SaaS declined by 53% from Q3’ 21 to Q1’ 22, and the projected Global growth is down by 50% compared to 2021.
“We are seeing whatever was not working well is now working worse, including poor messaging and poor ICP targeting. This is a great time to reassess your funnel”. - Camela Thompson
Yes, there is the economic aspect affecting companies, but we are also in a moment in history where our relationship with a lot of things are changing even faster than before. Ever since the pandemic hit in early 2020, we’ve been reassessing how and where we work. When it comes to your targeted customer, things are also evolving.
Team demographics are different than they were just a few years ago. There are more Millenials in buying positions now - less Baby Boomers and Gen X - and 43% of these Milennials B2B buyers prefer to research online and rely on peer based reviews instead of talking to a sales person. No wonder it’s so hard to get those sales over the finish line!
This brings us to the next challenge: sales cycles are getting longer.
Recent reports reveal that a significant proportion of companies are experiencing heightened sales cycles, with over half reporting an increase of 11% or more in pipeline closures. This disruption to annual plans has caused companies to reevaluate their strategies. Our expert guests believe that the solution lies not in automation or increasing sales reps, but in adapting to changes in buyer behavior. To tackle this challenge, they recommend the following steps:
More than half of the respondents reported churn rates of over 10%. As a result, the least affected teams by layoffs were the CSM teams, while marketing was the most affected.
During times of crisis, it is common to reduce marketing budgets and simplify the tech stack. However, this period is different than others. After the recent upheaval, many people switched companies, making it unlikely that the B2B buyer you worked with last year is still in the same place.
“People need to take a proactive approach to connecting with stakeholders and resell their product and speaking to the value of the product.” - Camela Thompson
Maximizing customer satisfaction can be achieved by aligning marketing and customer success strategies to gain insight into the motivations behind purchasing decisions. Also, crafting a comprehensive profile of the typical customer who churns will allow you to detect patterns and trends.
This is an opportunity to utilize the CS and Marketing teams by improving their data literacy skills so they can effectively communicate performance insights to stakeholders. Marketers are valuable in identifying at-risk personas and executing targeted re-marketing campaigns. It's important to keep in mind that marketers need various channels for raising awareness, generating leads, and maintaining the sales pipeline, and not to rely solely on one metric or initiative.
Going forward in 2023, our panelists recommend adopting a flexible attitude. During challenging times, take advantage of the opportunity for growth and learning. Make do with what you have and find creative solutions. If you don't have ideal data or a top-notch CRM, start by analyzing the data you have and gradually build what you need. Don't forget to have fun on the weekends too!
Interested in Joining our Creator Guild? Sign up here to start contributing!
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What do RevOps leaders report as their biggest challenge? Data hygiene. Here is some practical advice on data hygiene best practices.
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Stop focusing on growth at all costs. RevOps teams must pivot towards profitable growth by mitigating risk and improving forecast predictability.
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“PLG Is the Death of Sales.” Just Kidding! Discover the actual latest product-led growth (PLG) trends in B2B SaaS in this interview with Stephen Moock, Head of Sales & Success at Calixa.
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Matthew Volm, CEO and Co-Founder of RevOps Co-op, talks to experts about how to automate the support process without sacrificing the customer experience.
RevOps is perfectly situated to help their executive shine during a capital raise. Learn how to prep your team and exactly what investors are looking for.
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It feels like the comp plan was just established and you’d like to “let it ride,” but should you? Check out how these experts suggest evaluating comp plans.
From an investor perspective, the birth of RevOps is a controversial discussion but Peter McCoy knows an important role when he sees it and supports it.
Think MQLs are dead? Think again. Looking at funnel best practices, this roundtable of experts knows MQLs are very much alive and important to sales funnels.
RevOps is a process-based function that enables others with information. We’re joined by Nicholas Gollop, a certified RevOps + Salesforce consultant, to talk about the fine points of the role.
Everyone’s feeling the pinch of inflation. Yet, companies need to retain and reward good sales people as market shifts unfold – the best compensation plans are recession-proof.
The future of B2B may lie in the hands of RevOps pros. Abhijeet Vijayvergiya integrated B2B buyer data and funnel activity into front-line tools and sees RevOps as the way to success.
At RevOps Co-op, we lift up ALL voices of our members. In this roundtable, we chatted with Black voices within RevOps. Here are the main takeaways.
RevOps teams have the interesting challenge of solving problems today while planning for growth in the future – Richard’s unique team structure helps.
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Commission programs need to be fair to both employees and employers and they can be implemented without the pains of manual entry.
Full Cycle Sellers are the sales people who do it all, but technology can help them work smarter (not harder) as they adapt to organizational growth and change.
Cliff Simon, VP of Sales and Revenue at Carabineer Group, shares best practices and lessons learned when it comes to new CRM set up projects.
Nicole Smith, Head of Revenue Operations at Greenlight Guru, shares what RevOps professionals need to keep advancing their technical skills to create more success and advance their career.
Krystal Diel, Director of Revenue at Capacity, shares how to prioritize the budget you have, how to argue for more funding, and why understanding your stakeholders can make a big difference during negotiations.
Everstage, a RevOps Co-Op community partner, helps to demystify the move from a supporting role to a strategic role in RevOps.
Demandbase joins us to talk about why Account-Based Experience (ABX) makes sense for B2B, what you’ll need, and how to get started.
Jamie Klanac, Vice President of Revenue Operations at Transflo, shares his wealth of experience from managing over 20 acquisitions.
In this episode, Toby Carrington, SVP of Revenue Operations at Seismic, shares how people can prepare themselves to move from a siloed operations role to RevOps, why enablement belongs in RevOps, and what people new to Ops should think about before making the leap to RevOps.
During this episode, Asia talks about making the best out of a limited budget, early startup revenue operations priorities, and which tools are a must-have for every revenue operations team.