Dave Kellogg: How to Forecast in 2024 & Why CaC Payback is Flawed and CAC Ratio is Better | E1110

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Dave Kellogg is one of the OGs of Saas. Among his many accomplishments, Dave was the CMO of Business Objects where he helped scale the business from $30M to $1BN in revenue. Dave has also been a CEO twice, once scaling the business from $0 to $80M and the other business from $8M to $50M before selling it. Dave is also an advisor to some of the best including GainSight, Logickull, MongoDB, Pigment, Recorded Future, and Tableau.
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Timestamps:

(00:00:00) Intro
(00:01:04) Kellogg's Career Highlights
(00:07:00) CAC Analysis
(00:11:48) Investment Metrics Analysis
(00:14:40) SaaS NRR and GRR Dynamics
(00:18:21) Importance of CS Teams
(00:24:32) SaaS Team Incentives & Churn
(00:31:18) Sales Team Management
(00:39:51) Sales Closing & Buyer Talk
(00:43:12) 2024 Discounting Strategies
(00:47:44) Customer References
(00:53:46) Product Marketing: Horizontal vs Vertical
(00:59:50) Engineering vs GTM Founders
(01:05:06) AI SaaS Strategies for Founders
(01:08:06) Quick-Fire Round
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In Today’s Episode with Dave Kellogg We Discuss:

1. What are the Metrics That Matter:
Why is CAC payback period such a flawed metric?
What is CAC ratio? Why is it more effective than understanding payback?
Why is gross revenue retention more important than net revenue retention?
What are the single biggest mistakes that founders make when using metrics today?

2. How to Build and Scale the Best Sales Teams:
Why should founders hire three sales reps at one time? What is the benefit?
What are the three different types of sales calls all teams must have?
What should all CEOs and Heads of Sales ask of their sales team in forecasting?
What is the single biggest mistake most companies make in forecasting?
How should a CEO/board member respond to a sales team that lets a deal slip to next quarter?

3. Are CFOs Buying New Tech and How to Win Renewals:
Are CFOs open for business? How has the top down sales process changed in the last year?
Why is the way that startups think about renewals completely broken?
What are the three different types of customer success teams we have today?
What is the core role of customer success? How can we incentivise them to sell more?

4. Mastering Product Marketing, Customer Profiles and Crossing the Chasm:
How can we use product marketing to increase sales velocity?
What is the single biggest risk in product marketing today?
What does Dave mean when he says “an ICP starts as an aspiration and becomes a regression?”
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