Andrew Edelman

Amplitude Announces Second Quarter 2024 Financial Results: - Second quarter revenue of $73.3 million, up 8% year over year - Annual Recurring Revenue of $290 million, up 8% year over year - Number of customers representing $100,000 or more of ARR in Q2 grew to 547, an increase of 10% year over year This quarter was all about meeting our customers where they are. In Q2 we took our Snowflake Native offering GA, doubled down on our open ecosystem, and unveiled a self-serve portal that makes it easier than ever to integrate with Amplitude. To our customers, partners, and Ampliteers, thank you! Your trust, partnership, and hard work is invaluable! #PLG #ProductLedGrowth #DigitalAnalytics #ProductAnalytics #Retention #Acquisition #Monetization

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Hot Take… RIP #PLG, Long Live #SLG But before you throw shade, let me explain… 🔹 There are undoubtedly exceptions, I’m sure many will highlight monday.com, Freshworks, etc. 🔹 PLG works well for low ACV deals with low CAC… think SMB and mid-market customers. Target CAC payback <12 months 🔹 PLG is a fantastic top of funnel marketing channel for enterprise sales ⭐ But for 6-figure enterprise sales, you need enterprise salespeople pressing the flesh with customers

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Amplitude Announces Third Quarter 2024 Financial Results: - Third quarter revenue was $75.2M, up 6% year-over-year - ARR was $298M, up $8M from the end of the second quarter - We now have almost 3,500 paying customers, with 567 of those representing more than $100k or more per year Q3 was all about winning the enterprise. We are starting customer conversations differently, reaching key decision-makers, and demonstrating fast value in ways we weren’t before. The result is a higher-quality book of business, with better attach rates, longer contracts, and bigger expansions (we had multiple expansions exceeding 7 figures in Q3). Consolidation is another big theme that's been playing out for several quarters. It’s clear that our customers are looking for an all-in-one platform, and they are finding that in Amplitude. And we've continued to make our platform better. In Q3, we launched Amplitude Made Easy, our completely redesigned platform experience that takes the difficulty out of analytics. We also deepened our partnership with our friends at HubSpot, launched Web Experimentation, and acquired Command AI (fka CommandBar). To our Ampliteers, partners, and customers—we couldn’t do it without you! Thank you. Thank you. Thank you.

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At the Gainsight conference last week, I had several folks ask me some version of "everyone used to talk about adoption....now everyone says that it's just about outcomes and ROI. What's your take?" It is and has always been about both. Can you get ROI without adoption? No. Is adoption by itself sufficient to guarantee value realization? Also no. You have to have adoption of the right capabilities that tie to customer business priorities with attached measurable outcomes. That is and has always been the formula. This is easy to say, really hard to implement and manage at scale. Which is why very few companies do it.

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What should an aspiring #CMO know? Fantastic bonus question from Kathleen Booth at the end of the panel discussion ’How is the cmo role being reinvented’ with Andrew Davies Paddle, Jack Foster of WorkRamp and Alex Poulos of Crossbeam. Andrew P says: "First and foremost, prioritize the business goals over everything else. Care more about growing the company than sticking to your budget. Stay curious, not judgmental, and make sure to deeply understand the company, its customers, and your team." Jack F adds: "Talk to customers regularly and have a bias towards action. Don't get stuck in analysis paralysis; get stuff out the door and iterate based on feedback." Andrew D, the accidental CMO(!) advises: "Understand the business inside out and allocate resources strategically to drive revenue. Be the primary source of customer insight within the organization to steer marketing efforts effectively." In summary, aspiring CMOs should focus on the business, prioritize customer interaction and action, and drive revenue through strategic resource allocation and customer-centric insights. #CMOInsights #MarketingLeadership 💼📈#goldenhour

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Gong's GTM teams love DealHub! We're geeking out over how Gong, the Revenue Intelligence leaders, are using DealHub.io to, well, rock their sales world! Their Deal Desk, RevOps, and Sales teams are all raving about the platform. Here's why DealHub is a hit at Gong: * Less Busywork, More High Fives: DealHub slashed manual work by 50%, freeing up time for what matters – closing those deals. * Crystal Clear Visibility: Say goodbye to pipeline mysteries! Everyone at Gong has a bird's eye view of the sales process. * Faster Sales Cycles: DealHub helped Gong accelerate their deal cycles, meaning quicker wins and happier customers. * Teamwork Makes the Dream Work: Collaboration is key! DealHub fosters seamless communication between all of Gong's awesome teams. Curious how DealHub can boost your RevOps magic? Check out the full story! https://okt.to/WeHlgw #RevOpsLife #SalesTeamWins #DealHubLove #CustomerSpotlight

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The first version of the SaaS GTM playbook was written twenty years ago. Salesforce championed it. Mark Roberge published The Sales Acceleration Formula about Hubspot’s journey. Over the next two decades, we analyzed, quantified, instrumented, & optimized many aspects of the SaaS GTM. Account executive to SDR ratios, sales cycle lengths, conversion rates, customer acquisition costs, customer lifetime values, net dollar retention. The new software GTM playbook has yet to be written. But the companies who figure it out will become the next wave of massive businesses. On Tuesday, Theory held an event with [Dave Morse] formerly at Hebbia & Scale AI, Flo Crivello from Lindy, Paul Yacoubian from Copy.AI, & Chris Changfrom Gradient to discuss how AI changes these practices. These were my take aways : - Selling AI is being discovered because the technology is new. Buyers don’t know how to use it or how to buy it. - Because the sales motions are new, we can’t apply the previous playbook to the new sales process. The CEO/founder should hire a sales leader that they fully trust who focuses on ultimate success. The sales process is a part of the product : using both the customer’s language & the ultimate use of the product through success efforts - Between PLG vs sales led, more companies were sales-led. If starting with PLG, the template sells the product. Fight the empty box problem with great concrete templates that demonstrate how to use AI. If selling top-down, most of the conversations today are at the C-suite rather than the mid-market predominantly because the buying process is new. - Figuring out how to consistently produce wow moments with non-deterministic software is essential. - The room was split on pricing model : seats, usage, or some hybrid. Ultimately, pricing captures 15-30% of the value the software/AI creates. Developing a strong case for this with buyers will be key because the ROI question from buyers is real especially as the broader software market feels pressure. - Only VCs care about the word agents / agentic : for most enterprises, agents mean a customer support agent. Many teams don’t care about the underlying technology, they seek a solution to their problem. Tomorrow, we’ll be publish the results of the 2024 GTM Survey which we’ll reveal at Saastr in which we dig into the use of AI on sales processes & the impact to efficiency. Thanks to the panelists & attendees for a great discussion.

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Maybe the most important skill for enterprise sales and CS is the ability to quickly connect the dots. The very best can hear or read disparate pieces of information and construct them into a coherent value narrative then make this relevant to different stakeholders. Often on the fly.

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Poorly designed outbound and glitchy sales development Strategies cost the global B2B economy approximately $325 Billion in lost opportunity annually. > The majority of strategies are driven by "Throw grass in the air" design > The majority of strategies are formed at the execution, not the executive level > Head trash dominates about what "I believe works" This is all opportunity cost and "function of time costs". But assume this: >Most XDR functions waste >85% of execution or active selling time, but to be conservative lets assume 30% >Most XDR have a $500k pipeline contribution number >30% waste = $150k missed opportunity There are: > 2,000,000 XDR roles at 30% waste = $300 BN The additional $25bn is all exhaust waste by not executing on time and in time. Happy to expand further either directly or here. PipelineHeroes are ruthlessly scientific, ruthlessly strategic and ruthlessly effective

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A few highlights from our discussion on next-gen pipeline building with Lauren Schwartz (VP Enterprise Sales, Fivetran) & Kim Graves (Head of Sales, Notion) from 20SALES: (1) Cold outbound is rough. Seek W.A.R.M outbound: "W" is for 'within your ICP'.  It’s important to be very targeted, know your buyer, and the tech stack they're using. "A" stands for 'authority or credibility'. Do you have credibility in the space? Have you talked to other companies like them and have insight to share? "R" is for 'relevance'. Why is it relevant to have the conversation now? "M" is for ‘make it personal.’ It can't feel like AI. (2) Next-gen pipeline building requires a holistic approach: Pipeline coverage should be 4-5x in this market (rather than 3x) and requires rigor around the right channel mix  (3) AI is enabling, not replacing outbound: AI can help automate away many parts of your workflow, particularly non-customer facing ones. The most useful tools today provide data aggregation/enrichment and intent-based signaling. (4) Partnerships can be an accelerant: Find power in collaborating with complimentary tech (“It’s called a tech stack for a reason”).  Consider other players who could act as an extension of your sales team to help you generate pipeline. If you have prospects with these companies already in their stack, the quality of that pipeline is usually higher. (5) You are the CEO of your territory: Good sellers know that they are in control of their own destiny. Never assume that the pipeline is going to come from other channels or become overly reliant on marketing or partners.  (6) Find your “Renaissance rep”: Your first sales hires should be very adaptable, great communicators, problem solvers, and process builders. Reps should also be very collaborative and constantly bringing feedback from customers back to the team. We all benefited from your wisdom - thanks for joining our community of founders & GTM execs at Menlo Ventures! CC: Kandace Elam

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A wave of consolidation is sweeping through the sales tech industry. I recently listened to a brilliant episode from the Topline podcast, featuring Salesloft CEO David Obrand, that shed light on the current state of the GTM tech landscape. As highlighted in the episode, key players like Clari, Gong and Outreach are expanding their offering to boost their TAM and offer more comprehensive solutions. Whilst the trend is understandable, the danger is long-standing partnerships start to fray as overlapping functionalities emerge - partnerships that were once the lifeblood of the sales tech ecosystem. For us, it begs the question. In a world of all-encompassing GTM suites, is there still a place for specialized, best-in-breed solutions? I believe the answer is a resounding yes - but only if they can offer extraordinary value. To thrive in this new era, point solutions must not only deliver great results but also seamlessly integrate into a company’s core tech stack and existing workflows. At MultiplyGTM, we’re laser-focused on providing planning intelligence that complements rather than competes with the everyday solutions revenue teams rely on, and goes deep in addressing a critical need - empowering revenue leaders with the confidence and clarity to achieve their goals. Whilst we may lack the resources of larger players, our goal is to provide unparalleled planning intelligence and insights that drive revenue, while growing sustainably and delivering immense value to our customers with our domain expertise. We're on the cusp of announcing some game-changing partnerships too that will extend our reach and impact, while maintaining our focus on delivering the revenue planning capabilities that drive profitable efficient growth. Stay tuned! 🚀

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The Future of AI in Sales: Where Are We Heading? 🚀 I recently had the opportunity to join TPY Capital’s podcast, Aideation, alongside Omri Allouche, Chief Scientist at Gong, to discuss the transformative impact of Generative AI on B2B sales. We covered some of the most critical topics shaping the field today: 💡 How GenAI is redefining sales roles and processes. ⚔️ The dynamic competition between startups and established players. 🛠️ Practical insights for implementing AI effectively in sales teams. 🤝 Building trust and securing buy-in for AI solutions in enterprise settings. Big thanks to Guy Yamen and TPY Capital for hosting this engaging and thought-provoking conversation. This episode is packed with ideas for anyone exploring the future of sales and AI. 🎧 Check it out here: 👉 YouTube: https://lnkd.in/dG6iJvAM 👉 Spotify: https://lnkd.in/dB5V7pDS What’s your take on how AI will shape the future of sales? Let me know in the comments! Greenfield Partners #GenerativeAI #SalesInnovation #Entrepreneurship #B2BSales

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A seasoned sales leader with a $150 million ARR company shares the initial struggle of adopting a comprehensive RevOps function. The traditional approach? Hire tactical ops resources for siloed functions like sales, marketing, and CS. But as companies grow, the need for cohesive leadership becomes crucial. Have you faced such transitional challenges in your organization? Explore the RevOps journey in my latest video! #RevOps #SalesLeadership #RevenueGrowth #BusinessStrategy

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Top H1 takeaway from QBR's about our Rev Org: "We're an ecosystem, not a hierarchy." (h/t Alexandra B.) We collaborate, everyone's voice matters, and we strive to put people in roles they love so they can be madly successful. Hearing this statement was validation that what we are building in the Revenue Org at LibraryPass is unique, and scalable, and contagious. And we have roles coming soon! So if you're interested in being part of an ecosystem, let's chat. Here's to an even better H2!

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Why is top-line growth the holy grail for SaaS success? Because it implies everything else is functioning well: product/market fit, retention, customer acquisition. Plus, it drives the highest equity value. And yet, it’s not the only important metric:

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There is a murder scene happening in your GTM org right now. 🎃 But not with people (phew). But with FY2025 budgets getting dished out, many GTM leaders are slashing and redlining their current expenses to adapt to the change in budget or getting rid of things that didn’t work. 🔪 Now, if you are a new CMO/CRO, be careful not to just slash for slashing sake. Especially on operations support. Take the time to dig into what is useful for the team and better yet, lean on your operational support to give you the insights to make these “cost-saving” slashes. And on that topic of “cost-saving” here are places I would look into “slashing” first to save money instead of reducing on brand programs, operations, and consultants that provide value. 😊 • The full GTM tech stack  This is the very first place I would look to find tech bloat. It’s likely you might have tools that do similar things, tools no one has touched in ages, and tools that you could easily replace by building functionality within existing tools. • “Lead acquisition” data vendors Buying lists of “verified buyers” or buying “meetings” is not the way to go. Trust me. • Syndicated Content Maybe you don’t need to completely get rid of this channel (although I would think about it based on all the data I have seen). But the better thing is to invest in building your own content program that your team can consistently stick to and that resonates with buyers. • “Silver-bullet” reporting tools This kinda relates to point #1 but just letting you know - there isn’t one. • Any channel that you have invested a lot of time into but see little pipeline $ Use your data to the best of your ability when making cost changes. But know that marketing takes time and pipeline attribution is a lagging indicator. But if a certain channel or program is just not working - then make the case to stop and invest in an experiment instead. Any others you would add? Would love to hear it!

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Sales efficiency reveals the true cost of revenue acquisition. If it's too expensive, you're artificially growing, not hitting true product/market fit. It's also a cap on your maximum size. And yet, no one metric is the only one you need to optimize:

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