For much of the SaaS Era, the go-to-market dream was The Salesforce Model. This story harkens back to the early days of Salesforce’s growth, when an enterprise sales rep would roll into a CIO’s office and say, “Did you know we already have 25 paying customers in your organization? Wouldn’t you like an enterprise license and save some money?” Boom. Roll the pen. The deal was done.
This bottom-up sales approach has been known more recently as Product-Led Growth, exemplified by brands like Slack and Zoom, among others. The attraction is understandable: Pour all of your resources into a killer product and with no need to invest in or build out a sales and marketing function.
However, for most enterprise brands, that PLG dream was never really attainable. In today’s environment, it’s even less likely to work as enterprise IT buyers slow down their sales cycle and cast more side-eye at self-procurement.
Whether you want to lead with product or take a more conventional approach to enterprise sales, the question you need to ask yourself is, “What is my defining moment?” What are you doing differently from your competitors that makes you different and memorable? Hint: A killer demo and a slick pitch deck ain’t enough. Instead, what are you doing to break the script of what your buyer is expecting to pay attention to and instead create a story that shines a bright and evocative light on what you are actually delivering? If you don’t know how to answer that question or are falling back on “best practices,” it might be worth reconsidering your approach.
What else is going on this week?
CareerBuilder refocusing on U.S. growth
CareerBuilder is reshuffling the deck yet again. The company has appointed Jeff Furman as the new CEO to focus on growth in the U.S., where CareerBuilder is still one of the top five job sites. This move comes on the heels of it laying off a large part (possibly up to 60%) of its U.S. workforce. It also agreed to sell its international business to a recruitment marketplace in Greece called Kariera. The deal includes CareerBuilder sites in the UK, France, Germany, Sweden, Vietnam, and India.
Funding and acquisitions
- Deltek acquires Replicon. The Herndon, Va.-based global provider of software and solutions for project-based businesses, acquired the Calgary, Canada-based provider of unified time-tracking solutions that combine project delivery, finance, and HR on a single platform that’s purpose-built for project and services-centric organizations. (FinSMEs)
- OpenFin raises $35 million Series D. The NYC startup is an operating system of enterprise productivity, enabling app distribution, workspace management, and workflow automation. (FinSMEs)
- Opus raises $6.8 million Series A. The NYC startup is a training platform for businesses with deskless workforces. (FinSMEs)
Is the idea of the metaverse at work dead?
In today’s rapidly evolving tech landscape, the idea of the metaverse at work is far from dead. Despite a perceived cooling in the market, worktech innovators can still learn a lot.
To gain a better understanding of the current state of the metaverse market, Jeff Petersen and Bret Starr explore whether the market has in fact cooled and offer valuable advice for metaverse brands and other new tech players on how to navigate their sales and marketing strategies in this dynamic environment.
HR Systems Survey opens
The Sapient Annual HR Systems Survey is open for participation until July 1. Now in its 26th year, this global survey is always a keystone moment at the HR Tech Conference. Key survey additions this year include new questions on Rewards & Recognition, Skills Management, and Intelligent platforms.
- ServiceNow invests In AI-based enterprise startups with $1 billion venture commitment. (Crunchbase)
- Earnings: Workday stock gets a big bounce after a solid earnings report. (MarketWatch)
- Big Tech stocks are surging to 52-week highs. (Wall Street Journal)
- When is the best time to ask for a customer review? (Wall Street Journal)
- How to build social capital when you are working remotely. (Harvard Business Review)
- Acadian Ventures launches its Future of Work 100 list. (Press Release)
- Updates from Oracle’s spring analyst day are in. (RedThread Research)
- VC giants scour portfolio companies for AI risk. (BQPrime)
- Guild lays off 12% of its workforce. (BizJournals)
That’s it for this week!
Everybody love everybody,