Today’s episode showcases Craig and Matt as they hear powerful insights from the Founder of Cloud Ratings, Matt Harney, as he discusses the importance of ROI and value selling within the software industry. The conversation begins with a discussion on the underutilization of ROI calculators by software companies, emphasizing how personalized ROI can be a game-changer for sales. This episode also highlights AI potential and how that might look in the future. Listen to hear Matt Harney’s fascinating insights into the world of software research analysis.
Takeaways:
- Emphasizing quantified ROI is crucial. Leaders should incorporate this into their sales strategies by developing personalized ROI calculators.
- The primary driver of high Net Promoter Scores (NPS) is the quality of support. Ensuring an excellent support experience can significantly uplift customer satisfaction and loyalty.
- There is a gap between the hyped potential of AI and its actual implementation by established players. Leaders should focus on practical, impactful AI integrations rather than just following trends.
- Security and HR software sectors yield higher quota attainment rates for sales teams compared to collaboration and productivity tools. This can inform strategic decisions on market focus and product development.
- Leveraging internal financial analysts such as FPA teams or CFOs to build ROI models can provide more credible, detailed insights.
- Software industry leaders should be flexible and prepared to adapt to evolving market demands and emerging technologies, ensuring their offerings stay relevant and competitive.
Chapters:
- 00:00 - Intro
- 01:09 - Matt Harney: Passion for Software
- 03:00 - Colbert Questions for Matt
- 6:10 - Market Misconceptions
- 7:58 - Power of ROI
- 12:47 - Applications of ROI
- 23:47 - Third Party Validation/True ROI
- 28:29 - Revenue Multiples and Valuation
- 30:34 - AI and SaaS
- 33:46 - Future of B2B AI
- 43:17 - Quality Support in SaaS
- 46:49 - Most Attractive Categories in SaaS
- 52:47 - Outro and Final Thoughts
Quote of the Show:
- “To me, it's surprising how little there is on ROI, and I think it should be a point of pride, right? That would be great if there was more of that in this industry because it also reflects that all of these things exist for a reason - it's to serve customers. You have to earn your way, and it all comes back to, what do customers get from the software?” - Matt Harney
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