CRO Confidential: The Hangover's Over: 5 Ways to Get Your SaaS Revenue Back On Track with Gong's SVP
In this Youtube video, Sam Blond and Jameson Yoon discuss five strategies to get back to hitting revenue targets. Here are the key points covered in the video:
- Sam Blond is a partner at ERS Fund and was previously the Chief Revenue Officer at Brex.
- Jameson Yoon is an SVP of Sales at Gong.
- They discuss the five strategies to help businesses recover and grow post-pandemic.
Strategy 1: Work Hard
- The days of work-life balance are over, and it is important to emphasize putting in the work.
- During the pandemic, people were making less money but still working half as hard.
- Startups require a lot of effort, so it is crucial to get back to working hard.
Strategy 2: Diagnose the Bottleneck
- Many companies misdiagnose the bottleneck to growth as being in the middle or bottom of the sales funnel.
- In reality, the bottleneck is often at the top of the funnel, where there is a lack of leads and opportunities.
- Companies need to focus their resources and attention on fixing the bottleneck.
Strategy 3: Get Creative and Stand Out
- To generate demand and stand out from the competition, companies need to think outside the box and be creative in their marketing campaigns.
- Examples include using direct mail campaigns, personalized gifts, or leveraging unique data insights.
Strategy 4: Relationships Matter
- Building relationships with prospects and customers is crucial for long-term success.
- Visiting customers in person, even in a remote work environment, can have a significant impact on sales and renewal rates.
Strategy 5: Incentives
- Incentivizing employees and customers can drive the desired behaviors.
- Sales teams can be incentivized based on revenue, while customer referral programs and incentives can be used to encourage customer engagement and loyalty.
- It is important to continuously review and adjust incentives based on the desired outcomes.
Overall, these strategies can help businesses recover and hit their revenue targets by emphasizing hard work, addressing bottlenecks, standing out in the market, building relationships, and using incentives effectively.