How Check Grew Revenue by 300% in 6 months with a Partnership Strategy
•Download as PPTX, PDF•
0 likes•27 views
This session will cover How to transition from being a vendor to a partner How to differentiate your offering through holistic, value-based selling How to move upmarket to enterprise buyers and executives How Check grew revenue by 300% in 6 months with a partnership strategy
Recommended
Recommended
More Related Content
More from saastr
More from saastr (20)
Recently uploaded
Recently uploaded (20)
How Check Grew Revenue by 300% in 6 months with a Partnership Strategy
- 1. How Check Grew Revenue by 300% in 6 Months with a Partnership Strategy 1 Matt Mahoney CRO Check @mpm Chelsea Palmer Head of Platform Sales Check @check_hq
- 3. Customer onboarding has a leaky bucket. Example
- 4. How did we get to 300% so quickly? • Clear goals & metrics • Shared dashboards • Roadmap visibility & input • Get your hands dirty 4
- 5. Be a true partner 🤝 ✅ Align on metrics up front ✅ Identify the gap. Offer a bridge. ✅ Partnership > Vendorship
- 6. Come visit Check at booth #255!
- 7. THANK YOU
Editor's Notes
- [Matt’s Intro/Setting the Table - Slide] Trend: 2022 has shown the expectation is no longer just about growth, it’s about profitable growth The tried and true way is whitespace expansion (ie. selling more products into your core) It drives ARPU, NRR and Margin. This not news per se, it’s how all SaaS companies expand over time What’s new: In some cases, when SaaS companies are expanding the Core, they’re starting a whole, new business inside their core business. It’s not a feature add, it’s a startup. We discovered — were forced to figure out that customers needed us to work with them much more like very hands on investors. A traditional enterprise sales motion that leads to integration that leads to renewal was not going to work. In what situation does this apply? What makes the effort more than adding a product extension? When you need to add new GTM, new Ops and new R&D to support it If you’re running a SaaS business, think about expansions you’ve done in the past or have underway – did they need investment in all 3 GTM, Ops and R&D? If so, how did that go? Did you launch on time? Did your hit revenue goals on time? If you’re serving SaaS businesses, how are you enabling your customers to exceed their milestones, not just complete your integration? What we did: We had to come at the problem in a different way. We had to redefine the relationship between us and the customer. This change lit our partners’ revenue growth – and ours as a result. We applied this lens throughout our GTM motion. One of the best examples is in our Success function, led by Meghan Harvey…
- [Meg] Script: That’s right, Matt! We did come at the problem a different way, and how we redefined that relationship brought incredible results. [We are doing business building even in Success.] In the Success world, we are often tied to renewal. But as Matt mentioned, that sales motion leading to renewal was not going to work for us. Check learned that because we are business building, we have to get deeply involved with R&D – we have to get deeply involved with Operations – and we have to get deeply involved with GTM strategy – and this is not vendor behavior, this is partner behavior. The involvement isn’t just asking questions and getting context – it’s problem solving together. It’s pulling our Partner’s teams together – it’s business planning, together. One of the best examples of this in our business is within the Operations workflows with our partners. [Problem] The problem we experienced with our partners here is was some of their customers were signing up, but they never completed their onboarding. This leaky bucket was not good for them, and not good for us.
- [Meg] [What did we do] After we have built high trust with them, which did take some time: → We gained access to more of our Partner’s data, the data we gained access to → allowed us to begin building some joint dashboards. Those dashboards become the guiding resource we’ve used to outline mutual goals and how we structure our meeting cadences. → Our Partnership continues to evolve from there.. we defined these micro-segments within onboarding and this led to building more on our APIs, more options for our Partners through new components of Check. [What happened because of what we did] → This also highlighted areas where our Partners decided to re/prioritize their roadmap to mirror the plans we were building. → And, these conversations and workflows are not linear – that is why this work happens in the early days of working with our Partners before they have customers using their product – and also much later, when my Success team is working with them in our Growth Stage. Because starting a payroll business requires expertise that most SaaS companies do not have on hand, we have the ability to come in not only with expertise but the willingness to do the analysis and work with them. [More ideas for the How] One of the foundations of this work is getting closer and closer to our Partners customers. Doing this customer discovery, we are learning as a team: for the people you are targeting and actively working with, what do they need to successfully get through the entire flow, the entire onboarding process. Focused projects and goals (with timelines) documented and broadcast widely across our internal and Partner teams.
- [Meg or Matt] Takeaways: How to be a ‘true’ partner Align on Metrics Upfront (what do we think about changing this to something like: aligning on data and definitions upfront, design mutual success metrics, etc.) Data based decision making. Work to explain the metrics as much as you can, and do rca where possible Use data to guide your workflows, meetings, and Decisions on where to focus time and energy with partners Identify the gap. Offer a bridge. Don’t assume the obstacle your customer or partner faces is theirs alone to solve. If there is a gap, be a bridge, offer a bridge, build a bridge with them. Getting it the trenches with them, keep their teams communicating. Be the investor, be the board member, be a valuable sounding board. Partnership > Vendorship – Redefine your relationships with customers or partners Seeing 300% growth in 6 months was a direct result of reframing how we define ourselves as partner and not a vendor. Want to learn more or chat with us, come see us at the Check booth