Section 1: The 3 x R's 
Section 2: Scaling SMB to Enterprise
Section 3: Pricing & PLG
Section 4: The Power of Partnerships
Section 5: Adapting to Remote & Hybrid Work 


 

The SaaS go-to-market (GtM) landscape is ruthlessly competitive. The sobering statistic that 80% of SaaS startups fail to scale effectively underscores the challenges facing CROs and Founders in 2024. 
 

To win, you need more than just a great product. It's your GtM strategy that will determine whether you thrive or fade away amidst the noise. 
 

Here are the critical GtM strategies for success in 2024 and how to implement them.
 

Section 1: The 3 x R's
 

Recruit x Retain x Revenue. Success isn't born from gut instincts alone.  Strategic hiring, intentional development, and a carefully crafted process are the building blocks for a thriving scaleup. 
 

By approaching your GtM ops with this level of sophistication, you'll unlock the potential within your team and achieve greater business results.
 

Recruit: Beyond Expertise
 

Recruitment is the first of the 3 Rs because you need the right people in place before anything else can happen. 

Often, founders think finding an A player means hiring the person with the most relevant industry knowledge, but it's more than finding domain expertise. It's about identifying individuals with both hard and soft skills - a holistic approach encapsulated nicely in the ICCE model: Intelligence, Character, Cultural fit, and Experience.

 


Especially in start-up organisations, assess candidates for:
 

  • Adaptability: Comfort with evolving technologies and remote selling techniques.
     
  • Problem-Solving: The ability to uncover pain points and position your solution effectively.
     
  • Tech-Savvy: Proficiency with CRM tools, sales automation, and digital prospecting, including next-gen AI tools.
     
  • Resilience: The grit to handle rejection and thrive in a fast-paced environment.

 

When interviewing, understand your role; are you assessing one/many of the ICCE criteria, or selling to the candidate?
 

Retain: Development as THE Retention Strategy
 

Retention, often misconstrued as merely monetary, hinges on development. Cultivate a culture where growth and learning are ingrained, and the financial rewards will follow.

 

 

Coach skill when the employees have the will. Skill without will is dangerous for your culture.

Be prescriptive, objective, and backed by data. Focus your 1st line leaders on executing weekly 1-1 meetings and coaching around field interactions. Unearth significant trends in Quarterly Business Reviews (QBRs) to ensure development remains a cornerstone.

The "Great Resignation" trend highlights the importance of keeping your best people engaged...
 

  • Clearly communicate potential career paths within your company to inspire ambition. 
     
  • Stay competitive with compensation packages – regularly benchmark salaries and offer both performance-based bonuses and the potential for equity so employees have a true stake in your success. 
     
  • Lastly, company culture matters: prioritize a supportive environment where your sales team feels valued and empowered.


Revenue: The Art of Predictable Execution
 

When you do recruitment and retention well, revenue takes care of itself. It becomes predictable. Establish a sales process aligned with a clear framework, that is easy to understand at each level: for reps, 1st line and Senior leadership teams, and supporting functions. 
 

When you are reporting, break it down to a country level, but don’t get blinded by a single large deal, look for the reality – take out outlying deals and assess if it is still a positive picture. Look at your product and financial model to backwards plan, and run a hypothesis: if it takes X number of meetings and Y personas to land Z accounts, how many can a new logo person go and grab?
 

Section 2: Scaling SMB to Enterprise
 

During boom times, many SaaS companies discovered the lucrative potential of the SMB market.  However, the shift to a bear market has caused this well to dry up, prompting a renewed focus on true enterprise sales. 
 

Successfully navigating this transition demands more than just a new sales playbook.  A strong vision, meticulously aligned with your ideal customer profile (ICP), becomes the unwavering North Star that guides your entire organization through the complexities of the enterprise sales landscape. 


Vision: The Unseen Driver

 

 

Upskilling your teams from an SMB to an Enterprise sales motion can be a long journey.

A strong vision is a navigational beacon. At an executive level, set your “North Star” and be meticulous about reaching that, even if the data doesn’t immediately align with your expectations.

The vision is the glue that gets the organisation pulling together in the same direction – create and tell a story that gets every department on board. Marketing and Sales must have a strong relationship. A/B test, have a programmatic approach, become thought leaders, evangelise and own in different markets. 

 

 

Measure what you do and then improve it.

Challenges: The transition to enterprise sales comes with distinct challenges:
 

Lengthy Sales Cycles: Enterprise deals involve multiple stakeholders, committee approvals, and often extensive legal reviews.
 

Complex Procurement: Navigate red tape, security requirements, and often rigid procurement processes.
 

Elevated Expectations: Enterprise clients demand sophisticated feature sets, seamless integrations, and bulletproof security protocols.

 

Section 3: Pricing & PLG
 

While traditional pricing models still have their place, there's a growing trend towards alternative options like consumption/usage-based structures. However, it's crucial to remember that these models aren't a one-size-fits-all solution. Here we explore the nuances of consumption-based pricing versus Enterprise License Agreements (ELAs), to help you determine the best approach for your SaaS company's target market.


Consumption vs ELA
 

Consumption/usage-based pricing models are great for growing revenue but won’t suit every customer:
 

  • If the customer values price predictability, an ELA will be preferable to them.
     
  • Digital native customers tend to understand usage-based models more, which can make them more popular.


Ensure your sales team evolves into strategic Account Managers, aligning closely with the evolving PLG landscape. What are you doing to actively market to your existing customers? Retention can come at the detriment of the new business muscle. 

Strike the right balance for your target markets:
 

Consumption-Based: Ideal for SMBs valuing flexibility and lower entry costs. Monitor for revenue volatility due to unpredictable usage patterns.
 

ELAs: Offer the predictability large enterprises desire. Justify pricing with robust value propositions and clear ROI calculation.
 

Hybrid Models: Consider blending both. Offer a usage-based tier for entry-level needs and packaged ELAs for scaled enterprise implementations.


Section 4: The Power of Partnerships
 

In today's saturated SaaS landscape, forming strategic partnerships isn't a luxury – it's a necessity for rapid growth. Here's why, along with how to execute partnerships effectively:

 

Expanding Your Reach:  Partner with companies offering complementary solutions. This exposes your product to their existing customer base, potentially unlocking thousands of new leads (e.g., accounting software partnering with a tax compliance solution).
 

Boosting Value Proposition:  By integrating your SaaS with other key tools, you create a more comprehensive solution for customers. This added value differentiates you from standalone competitors.
 

Scaling Without Overhead: Channel partnerships, such as resellers and integrators, extend your sales force without directly hiring more employees.  Studies show that channel partners can generate upwards of 20% of a company's revenue.
 

Partnership Success: Key factors for success include:

o    Shared Values: Ensure your partner aligns with your company culture and commitment to customer success.

o    Open Communication: Establish regular check-ins and clear communication channels to address challenges proactively.

o    Data-Driven Decisions: Track key metrics like leads generated, deal size, and customer satisfaction to gauge the partnership's ROI.


Section 5: Adapting to Remote & Hybrid Work

 

Collaboration & Communication: Intentional efforts are crucial.

Remote and hybrid work models are here to stay, and CROs must adapt their management strategies accordingly. 
 

Double down on collaborative virtual tools that cater to your team's specific needs - video conferencing, project management platforms, and tools for asynchronous communication. Over-communication is key to remote team success. 
 

Set clear expectations on availability, response times, and best practices for remote collaboration. 
 

Combat the isolation remote workers can feel by providing regular opportunities for virtual team-building, informal get-togethers, and peer-to-peer recognition. Proactively foster a strong company culture that transcends the challenges of distributed teams.

 

The ever-changing SaaS landscape of 2024 demands a Go-to-Market approach that is dynamic and adaptable. CROs and founders who revisit their strategies in the areas outlined in this playbook will be well-positioned to tackle the challenges of rapid scaling. By focusing on customer retention, revenue expansion, smart pricing models, strategic hiring, a streamlined remote-friendly workflow, and the power of partnerships, you'll unlock the explosive growth your SaaS startup aims for.
 

 


 

 

Need hands-on guidance to accelerate your hiring plans? 
 

Schedule a free consultation with our team to discover how we can help you recruit and retain top SaaS talent in 2024.