Brad Leeuwen

And I think a lot of us found this in our businesses.

If we were selling to different customer segments,

the bigger buyers seemed like a safer place to be.

Many of our boards were probably telling us, or our investors, telling us to go upmarket.

And this data kind of supports it, right?

It says, 2023, sell to bigger customers, and you'll get better results.

The interesting thing happened Q3 last year.

So around Web Summit last year, we gave a State of the Union on SaaS, and we said,

It's interesting.

The small buyers come back.

The small buyers started outperforming the big buyers for the first time in a long time.

And those lines had just started crossing.

What was interesting about it is that for the rest of Q4, that trend was confirmed.

One thing to say here, and this is something that we took heavily into changing our go-to-market, was that if you haven't yet gone up market, if you've seen through the VC winter, you're probably finding things a little bit easier right now.

So maybe don't be in a hurry to change.

This trend seems strong.

Even this last line here is February this year.

March data is looking great as well.

But this is one of the data points that had us consider what our go-to-market should be.

The other thing we look at is how do buyers behave between purchases of new software versus renewals.