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SaaStr 763: The Secrets to Selling and Scaling in Vertical SaaS with Slice's CRO Loren Padelford

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Oct 9, 2024

In a compelling discussion, Loren Padelford, CRO of Slice and former Shopify Plus executive, shares his insights on selling and scaling in vertical SaaS. He breaks down how Slice supports independent pizzerias with tailored software solutions, emphasizing the distinct strategies needed to compete with larger chains. Loren discusses the resilience of the pizza industry, key characteristics of effective sales teams, and the importance of building trust with SMBs. A must-listen for those looking to understand the nuances of vertical SaaS!

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INSIGHT

Vertical SaaS Strategy

To win in the SMB vertical SaaS market, aim to be the full ERP.
This approach allows you to own the entire operational stack, maximizing ROI for smaller businesses.

INSIGHT

Vertical SaaS Focus

Vertical SaaS allows for deeper focus and problem-solving within a niche.
This focus enables businesses to offer tailored solutions and gain a competitive edge like Domino's.

INSIGHT

Vertical SaaS Pricing

Vertical SaaS businesses targeting SMBs should aim for high annual contract values (ACV).
An ACV around $10K is often necessary for the business model to be viable, similar to Toast's approach.

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SaaStr 763: The Secrets to Selling and Scaling in Vertical SaaS with Slice's CRO Loren Padelford

Loren Padelford, CRO of Slice and previously SVP and GM of Shopify Plus, does a deep dive with the SaaStr CEO and Founder Jason Lemkin on the top learnings selling to SMBs and within Vertical SaaS.

The conversation dives into Slice's approach of helping independent pizzerias by offering integrated software and services, comparing it to the approach of Domino's. Lauren offers lessons learned during his career in SaaS, with inspirational views on growth strategies, customer focus, and building trust with SMB entrepreneurs. This discussion is ideal for anyone interested in understanding the dynamics of vertical SaaS and its impact on the business ecosystem.

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Hey everybody - thanks to the 10,000 of you who came out to SaaStr Annual. We had a blast and big news -- we'll be back in MAY of 2025. That's right, the SaaStr Annual will be a bit earlier next year, May 13-15 2025. We'll still be back in the same venue, in the SF bay area at the 40+ acre sprawling san mateo county events center. Grab your tickets at saastrannual.com with code jason50 for an extra discount on our very best pricing.

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This episode is sponsored by: remote.com

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This episode is sponsored by: Anrok

A question for SaaS finance leaders, do you know where your customers are? Anrok tracks where your sales are creating exposure, and automates tax calculation and filing worldwide. Built for high-growth software companies, Anrok protects your revenue and saves you time. Visit anrok.com/saastr to learn more.