Landing and expanding at enterprises to drive digital adoption with Khadim Batti of Whatfix
Did you know that large enterprises are using 900+ software applications, and spending $100M+ on it?As per Gartner, $600bn dollars worth of enterprise software spend is going to be this year.Companies won't see an RoI if employees are not utilizing these software efficiently. This is where Whatfix comes into picture, creating a layer of adoption on top of these software products, helping employees to adopt these software.Whatfix serves 500+ customers worldwide, with 100 of top 1000 companies using Whatfix. They have a team strength of ~600 employees with $140 mn funds raised. In this episode Suresh deep dives with Khadim into the Land and Expand strategy which is unique to Whatfix. Learn more about how to build a new category, what the trigger at each stage for the company was to move from SMB to Midmarket to Enterprise, how org structure and approaches changes for these segments, how to address churn rate, on metrics , numbers and more numbers. It’s insightful to listen to how you can get creative on pricing when you have multiple variables - customer segments, number of users, number of applications, frequency of usage, departments and more. It also covers some of the mistakes made in Land & Expand, which other founders can probably learn from.Here’s more what you can learn from this episodeOrg structureStructuring a global enterprise sales team - Insights into org structure, traits to look for, compensation structure, targets & metricsWhat’s the typical BDR to SDR ratio?How does the role for Account Managers and BDRs differ?Is it better to attach SDRs to the demand gen team or to the regional sales team? What’re the pros and cons?How’s hunting, landing, mining and expanding linked?What’re the characteristics, mindset and experience to look for when hiring for SDRs, AEs, CS and expansion teams?MetricsSegment - Geography - Conversion’ framework - How to look at the conversion metrics for inbound & outbound sales team?What’re the metrics to be tracked for SDRs, AEs, BDRs‘How much is the land to conversion ratio, the expansion conversion ratio?MarketingHow to think about GTM to get into enterprisesHow to continue building a new category of ‘Digital Adoption Solutions’ for 6-7 years before the magic quadrants got introducedWhat’re the pros and cons when you create a new category?SalesHow do you sell to enterprises early on?How will procurement happen in large enterprises? If they have to remove a legacy CRM how will they go about it?ExpandWhat’s the average duration it takes from landing at say $50k ACV and to expand to $500k?Growth from $50k to $200k ACV takes time. $200k to $500k it’s faster, and $500k to $1M, it’s even faster - Why?What % of revenues come from expansion versus new logos and how they affect LTV?Hope this will be exciting for you!Start streaming!