120329 Open View Venture, Firas Raouf keynote presentation

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Firas Raouf from Ope

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120329 Open View Venture, Firas Raouf keynote presentation

  1. 1. Service vs. Technology: What Should Your Cloud-based Company Deliver? Measuring, Managing and Monetizing for Success in the Cloud Mass Technology Leadership Council Breakfast Seminar March 29, 2012Proprietary and Confidential © 2012 OpenView Investments, LLC. All Rights Reserved
  2. 2. 2A Cloud Revolution… or Evolution? • The concept of cloud computing has been around since the 1960s. • Since then, it has undergone a metamorphosis into ASP, SaaS, IaaS, and what we now holistically call cloud- based services. • Companies delivering cloud-based technology/service need to adapt to what modern consumers expect from their solutions.Proprietary and Confidential © 2012 OpenView Investments, LLC. All Rights Reserved
  3. 3. 3So, What Do Customers Really Care About Today? It’s all about SERVICE, not technology: • Ten years ago, an ASP or SaaS company’s most important differentiator was its technology. • Today, customers care about: - Constant service availability - Their specific pain/need addressed the way they want - Reliable service onboarding and support - Exceptional user experience • Your challenge is how to deliver a service – not a technology – to resolve their specific pains and needsProprietary and Confidential © 2012 OpenView Investments, LLC. All Rights Reserved
  4. 4. How Do the Best Cloud Companies Address Evolving 4Customer Expectations? 1. Focus sharply on a core segment A market segment is a classification of potential customers by one or more characteristics, in order to identify groups of customers, which have similar needs and demand similar products and/or services concerning the recognized qualities of these products, e.g. functionality, price, design, etc. WkipediaProprietary and Confidential © 2012 OpenView Investments, LLC. All Rights Reserved
  5. 5. How Do the Best Cloud Companies Address Evolving 5Customer Expectations? 1. Focus sharply on a core segment • You need a segment focus to be able to deliver the right solution to the right user through the right channel • You need the right solution to achieve clear competitive differentiation • Your core segment gives you the beachhead from which you can grow into other segmentsProprietary and Confidential © 2012 OpenView Investments, LLC. All Rights Reserved
  6. 6. How Do the Best Cloud Companies Address Evolving 6Customer Expectations? 2. Optimize distribution economics • Create a relationship between customer acquisition, onboarding, support, retention, and upsell. • Key metrics to focus on include: CAC: Total cost of ASP: Average BE: The breakeven acquiring a revenue per period, period for customer per customer recouping CAC Churn: How much CLT: Customer life LTV: Revenue revenue churns per time (inverse of generated over the period by cohort churn) life of the customerProprietary and Confidential © 2012 OpenView Investments, LLC. All Rights Reserved
  7. 7. How Do the Best Cloud Companies Address Evolving 7Customer Expectations? 2. Optimize distribution economics – Leverage your segment focus • Segment focus creates differentiation • Differentiation leads to higher lower CAC and higher ASP • Focus on user experience leads to lower churn and higher LTVProprietary and Confidential © 2012 OpenView Investments, LLC. All Rights Reserved
  8. 8. How Do the Best Cloud Companies Address Evolving 8Customer Expectations? 3. Leverage content marketing to lower customer acquisition costs • Content marketing allows companies to: - Communicate and engage directly with their core customer - Develop thought leadership that speaks to those customers’ common pain - Efficiently and inexpensively create brand awareness • It also creates a forum for long-term engagement with current customers, allowing companies to provide better service and improve retention.Proprietary and Confidential © 2012 OpenView Investments, LLC. All Rights Reserved
  9. 9. How Do the Best Cloud Companies Address Evolving 9Customer Expectations? 4. Executing sales and marketing strategies around the core segment • It’s not effective or efficient to cast a wide net and try to reel in every possible customer you can catch • Your goal should be to execute sales and marketing strategies that speak directly to your core segment – and no one else.Proprietary and Confidential © 2012 OpenView Investments, LLC. All Rights Reserved
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