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Michele Hansen 0:36
Hey, everyone, welcome back to software social, Colleen and I have a friend joining us today. We have Josh whoa here with us. Josh is founder of Referral Rock, which is referral software. They've been around since 2015. Also in the north, a million air club and have 16 employees. And Josh is also co host of the podcast searching for SAS, which actually kind of a similar concept to our show with a sort of an experienced entrepreneur and then somebody who's transitioning from consulting. So welcome, Josh.

Josh Ho 1:20
Hey, thanks for having me. Yeah, we're been a longtime listener and obviously have known you too for a while and are definitely our podcast that Nate and I have or was totally inspired by you guys. So it is extremely similar. But we've sort of diverged and done different things since then. But the concept was,

Michele Hansen 1:39
so we're so excited to have you here. So about Gosh, what was this like a month or so ago when we were chatting with Twitter on everyone about like, what, what should we even talk about on this show? And what do you find interesting. And something that came up was people were interested to hear more about some of the challenges and struggles and operations of running a larger business. And so we're gonna kind of dive into one of those areas today, which is something that I spend a lot of my time on actually more time than I do customer research, which is sales. And we're specifically going to talk about enterprise sales, since I feel like that can be kind of this like, I don't know, sort of like a scary topic for people to think about. And so we thought it'd be kind of interesting to sort of talk about how you do sales, how we do them. And then Coleen can kind of ask us questions about it. That sounds good. So too, so I guess I'll kick us off calm? Or do you? Do you have a question you want to start with? No, go ahead. Um, so can you just like, give us a sense, like, in a, like, like, how does an enterprise deal for you usually starts? Like, are you guys doing cold outreach at all?

Josh Ho 3:08
No, we don't do any cold outreach. And maybe it'd be helpful. How do you define enterprise sales? Because I want to make sure we're talking about the same thing as well. Are you talking like, like, sighs of customer size of kind of deal or, because like, we do all kinds of sales, and I would segment a certain area that I consider more enterprise than our some of our other types of sales as a SaaS business that has, like, the two three plan. Normal thing on the pricing page plus the

Michele Hansen 3:38
Yeah, I guess I define it and skipping to define it, because people define it really different ways. For me, it's when there's a custom contract involved, which usually means it's at least $10,000 a year, but usually a lot more. I know, you know, if you're talking, you know, venture back startup, like enterprise deal is like, you know, minimum 50 100 $200,000. We're not usually in that range. Most of our what I what I term an enterprise agreement, which is, you know, when you're dealing with, you know, five different departments on the customer side, they're a huge company, you're doing extended contract negotiation, like there's, you know, it's not just somebody goes to the website, clicks it and buys it, and then they use it. Right, there's more involved on our side. And usually those are in that 10 to 50,000 range for us for annual revenue.

Josh Ho 4:42
Okay, yeah, yeah. So when I classified that so it is that ask us where it's outside normal rails have the quick, you know, click to buy.

Michele Hansen 4:51
Yeah, like not self service. Basically, there's something special that has to go on

Josh Ho 5:00
Sure. So yeah, to answer your first question we, we don't do outbound. So we do all inbound, we have a strong SEO footprint. So we a lot of inbound requests that fall into two camps, we usually take them if you these are, quote unquote, are like lead magnets, you can either sign up for an account, or you can request a demo, at this point in our lifecycle. We are we attract people onto our site. And then essentially, there's like a 5050 split, we kind of, we have a philosophy on it now, which is saying, like, let a buyer by how they want to buy. Because you typically see product lead growth, like everyone funneling people to, you know, trials or to sign up. But we try to clearly say you have two paths. Because once someone determines that they do want to talk to someone, you know, it can easily get into the enterprise space, or it might just be like you were saying, a person that requires more of a relationship based sale, where they are talking to their internal champions they need to convince, they still need to go through procurement and all of those things. So for today, we can mostly talk about once they get into that demo track for us. And what happens is they can for us, some of those customers can fit into a standard offering. So like our, it might be an $800, or the $1,200 a month type of thing, usually paid annually. And on the first level, we sort of try to standard out bits of it, where it's like, and we can probably get into more detail of this. So is it our contract? Or is it their contract? That's like usually the first type of thing. And usually, if it's a scoped plan, we try to keep them. And in a regular price plan that isn't like, Hey, I have, you know, I have a million people I want to add to your form versus the 50,000, or the 100,000 kind of ones that are

Michele Hansen 7:00
a little interesting. So you actually you will start out at the point of using their contract because like, I mean, yeah. Okay, okay. I'm gonna start like, I mean, yeah, sort of count the number of times we have relented and use the customers contract with an extensive, you know, Addendum and scope of work on our side. Yeah.

Josh Ho 7:27
Right. Yeah, we try to keep them on rails of our stuff as much as possible, right, like whether, like first level one is just click checks to our checkbox, the checkbox that says I, your terms of service, on our website, level two is our standard contract. And then level three is like, they might have some alterations, our standard contract to which we already know, in scope, like, these are the things we're willing to bend on. So it's almost you have to build in or you know, what stuff you're going to be like, yeah, we'll give you that one type of things. And then yeah, level, I think I was on level three, level four is, okay, bear contract, but it is, like you, that has only happened a handful of times over the course of our of our existence, we and we fight like a lot, try to keep it in our other stuff, just to make it faster, because we don't have a large team, we don't have a I don't want to waste, you know, half of their contract on lawyers to try to get this out or get myself into into trouble agreeing to something that I clearly don't know. And I might have...

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