379: M3ter: From Early Sales Struggles to Finding Product Market Fit - with John Griffin
Dec 21, 2023
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John Griffin, co-founder of M3ter, discusses challenges faced by software companies in implementing usage-based pricing and how they created M3ter. They explore different types of customers, debate launching too soon or waiting too long, highlight the success of content marketing for SaaS company Meter, and discuss challenges of outbound outreach and leadership.
Meter helps software companies adopt usage-based pricing by providing a subscription management platform.
Content marketing has been a successful growth channel for Meter, providing valuable resources to its audience.
Meter is evolving its outbound outreach strategy to focus on targeted account-based marketing and building relationships with prospects.
Deep dives
The Genesis of Meter: Solving Pricing Challenges for Subscription Software
Meter was founded by John Griffin and his co-founder after identifying the pricing challenges faced by software companies implementing usage-based pricing. Having experienced these challenges themselves in their previous startup, they decided to start Meter to help subscription businesses adopt usage-based pricing. Initially, the founders struggled with traction and unsuccessful outreach. However, they eventually landed a significant first customer, which provided the validation and momentum they needed. Meter now generates multiple seven figures in ARR, focusing on pricing operations and automating billing for subscription businesses.
The Importance of Content Marketing and Partnerships in Meter's Growth Strategy
Content marketing has been a highly successful growth channel for Meter, generating a large number of inbound leads on a weekly basis. By producing high-quality content that incorporates subject matter experts and customer insights, Meter has been able to provide valuable resources to its audience while establishing brand trust. Additionally, Meter has invested in partnerships with other software platforms, enabling seamless integrations for companies adopting usage-based pricing. These partnerships have been strategically chosen to support Meter's mission rather than displacing the existing supplier ecosystem.
Challenges with Outbound Outreach and the Need for Targeted and Coordinated Campaigns
While outbound outreach has been challenging for Meter, the company acknowledges the need to evolve its approach. Traditional cold email and cold calling strategies have become less effective due to inbox saturation and GDPR regulations. The focus now is on targeted account-based marketing techniques and coordinated campaigns that combine multiple channels, such as social, email, and calling. The goal is to move away from transactional approaches and build relationships with prospects through prior interactions, such as event meetings or engagement with content marketing efforts.
Struggles with Time Management and the Importance of Self-Awareness as a Founder
John admits that time management remains a personal challenge, particularly balancing deep involvement in technical aspects with high-level strategic perspectives. He emphasizes the importance of understanding personal weaknesses and surrounding oneself with a team to fill those gaps. Effective communication and empowerment within the team are critical for success. John also advocates for servant leadership and actively listening to team members to harness the collective intelligence of the company.
John's Passion for Family, Animal Welfare, and Leveraging AI for Social Good
Outside of work, John's passions include spending time with his family, advocating for animal welfare, and exploring the applications of AI for social good. He envisions leveraging AI technology to reduce the inequality gap and benefit underprivileged communities. Personally, John has a deep passion for technology and its potential to address societal challenges, constantly seeking ways to apply tech solutions to real-world problems.