4 Ways to Approach your Product Roadmap During Challenging Times with Merge
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4 Ways to Approach your Product Roadmap During Challenging Times with Merge
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4 Ways to Approach your Product Roadmap During Challenging Times with Merge
- 1. UP NEXT: 4 Ways to Approach your Product Roadmap During Challenging Times with Merge Andrew Schoen Partner NEA Shensi Ding CEO Merge
- 2. 4 Ways to Approach your Product Roadmap During Challenging Times with Merge Andrew Schoen Partner NEA Shensi Ding CEO Merge
- 3. 1. Pricing and Packaging Adjustments
- 4. Key considerations for pricing and packaging changes ● Think long-term about your customers’ needs ● Prioritize quality revenue KPIs to consider to measure the success and impact of pricing & packaging changes Annual Recurring Revenue (ARR) View of your revenue changes (MRR for more detailed timeframe) Customer Acquisition Cost (CAC) Impact cost of acquiring new customers Customer Lifetime Value (CTLV) Higher CTLV indicating customers are finding more value in your offerings Pricing Page Conversion Rate Convert into leads or customers after visiting your pricing page Upsell/Cross-Sell Rate Upgrading to higher-tier packages or additional features
- 6. Importance of Customer Onboarding Why is this important? ● Fewer companies are buying = fewer at bats for new revenue ● Cheapest way to grow revenue is to convert interested customers How to approach it it? ● Option to do this in-house or use a platform for onboarding optimization ● Listen to customers ● Analyze your support tickets ● Create a funnel to understand exactly where and why different cohorts drop off
- 7. 3. Improve your Infrastructure Spend
- 8. Infrastructure Spend Improvement Considerations of how to approach evaluating your infrastructure spend: 1. Determine if it’s worth dedicating time to optimize this or not a. Teams are operating in a leaner manner, so allocating bandwidth to this is a critical decision! 2. Classify what actions are low hanging fruit vs incremental improvements a. Leveraging an “action priority matrix” can be helpful 3. Consider what type of evaluation criteria to use: quantitative, qualitative, or a mixture of both Goal: achieve cost savings, increase efficiency, and maximize the value derived from the investments made in infrastructure
- 9. 4. Offering Product Integrations
- 10. Measuring the Impact of Your Product Integrations ● How essential are they to your business ○ Do you turn down or lose customers to competitors because you don’t work with their data/SaaS stack? ● How integrations impact revenue ● How integrations impact stickiness and retention % Closed-Won Deals ARR Product Usage Customer Retention Rate
- 11. Drata Integrations (Powered by Merge) These integrations have helped unlock additional sales since Drata can close prospects who requested certain integrations in just a few weeks!
- 12. Key Takeaways
- 13. Key Takeaways ● Ruthlessly prioritize! ○ Where and what to optimize ● Feedback, feedback, feedback! ○ Listen to your customers
- 14. Thank You!