How to build a SaaS business in India Ft. Kuldeep Dhankar, Co-founder, Last9.io, Ex - Clevertap
May 17, 2024
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Guest Kuldeep Dhankar, Co-founder of Last9.io, discusses why there's a huge opportunity for SaaS in India, secrets to scaling SaaS sales, VCs' view on SaaS in India.
India is a significant market for SaaS with high growth potential.
Understanding customer intent is crucial for B2B sales success.
Salespersons need to align software solutions with organizational goals to drive successful outcomes.
Deep dives
Sales Strategies and Market Insights
The episode delves into the importance of sales strategies and market insights. It emphasizes that India is a significant market for SaaS due to its potential and numbers, highlighting the shift in focus towards building from India for the world. It discusses the profit pools in India and the challenges faced by traditional domains in the country, outlining the entry barriers. Furthermore, it explores the role of software in increasing efficiency and achieving organizational goals in the Indian market.
Customer Acquisition Cost and Intent Discovery
The podcast sheds light on the challenges of customer acquisition cost in B2B companies, particularly in discovering the intent of customers, which is deemed as the most expensive purchase for such businesses. It emphasizes that enterprises often seek capabilities rather than specific software, requiring a thorough understanding of customer needs. This process of discovering intent, especially in the US market, is highlighted as costly and critical for enterprise sales success.
Salesperson's Role and Narrative Building
The episode details the evolving role of salespersons, focusing on their ability to create new value for buyers by aligning software solutions with organizational goals. It stresses the significance of being genuinely interested in the customer's business, building curiosity, and engaging in meaningful conversations. The narrative also touches upon the need for salespeople to be adept conversationalists, willing to ask probing questions, and empathetically understand customer needs to drive successful sales outcomes.
Venture investors optimistic about SaaS companies in India
Venture investors are optimistic about the software market in India, particularly SaaS companies. Mentioned successful SaaS businesses like Zoho and Freshworks, highlighting the growth potential in the industry. Indian SaaS founders are known to collaborate and support each other due to the competitive nature of the market, emphasizing the importance of unity in navigating challenges.
Navigating financial decisions and wealth management
The podcast delves into the challenges and strategies for navigating financial decisions and wealth management. Discusses the significance of negotiating compensation packages, especially in terms of ESOPs (employee stock option plans) and the importance of valuing options effectively. Additionally, emphasizes the role of professional money managers in financial planning and investment decisions, encouraging trust in professionals for managing money effectively.
In the latest episode of Create Wealth with Sandeep Jethwani, we have Kuldeep Dhankar, Co-founder of Last9.io, with us. With over 20 years of experience across Nokia, Microsoft and CleverTap his journey building brands and solving problems for businesses is a masterclass for those who work in SaaS businesses and sales roles across industries.
In this episode, he talks about why there is a massive opportunity for SaaS companies in India, the secret sauce to scaling your SaaS sales, how VCs see the booming SaaS landscape in India, and a lot more.
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