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Michael Litt

๐Ÿ‘ค Speaker
457 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

They'll obviously pay much more than that.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

Then we introduce our sales solutions, which are powered by this product called Viewdit, which is a video prospecting and selling tool that connects to CRM.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

We've got our service and support solution, which integrates with Service Cloud and Zendesk, so you can respond to support tickets, et cetera, with video.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

And all of that content goes back to the same hub.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

So since we last spoke,

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

Our ARPUs stayed about the same in that we've introduced a new lower segment, but it grows.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

That's our ARPU on an initial customer acquisition.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

It grows over time as we go across the company and get a larger share of wallet of that business.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

Yeah, so our target for upsell within the base is actually about 30% of net new revenue.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

It's aggressive.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

Oh, of net new revenue, okay.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

Yeah, net new revenue.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

So I don't know on a customer-by-customer basis, but the key KPI for a customer experience team is 30% upsell.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

Yeah, yeah.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

I mean, it's kind of the strategy a lot of growth companies employ, but obviously only successful if your customers are getting value out of your product.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

Logo churn annually.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

So I personally do not know the logo churn number.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

However, so our net retention in terms of revenue and gross retention in terms of revenue, we target to be best in class SaaS.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

Best in class for gross tends to be north of 90.

SaaS Interviews with CEOs, Startups, Founders
810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth

Our internal target is 95.