- Acquisition will diminish as the main source of growth for SaaS companies as the market becomes more competitive. Improving retention and monetization can have 2-4x the impact on growth compared to a focus on acquisition. - Many SaaS companies are ill-equipped for this transition because they do not have well-defined and quantified buyer personas, do not engage in regular customer development conversations, and are not truly testing to move beyond feature-based differentiation. - To improve, companies need to quantify buyer personas, implement a customer development process focused on understanding customers, and find ways beyond features to drive retention and monetization through improvements like UX, customer service, and value-based pricing