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SaaS Growth Trends Report 2024 with Jon Cochrane
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This week on the Expert Voices podcast, Randy Wootton, CEO of Maxio, speaks with Jon Cochrane, Director of the Maxio Institute, to discuss the latest insights from their SaaS Growth Trends report. Randy and Jon delve into the significant findings of the Q1 2024 report, discussing the differences in growth patterns between subscription-based and consumption-based pricing models, as well as the dynamics between companies below and above one million dollars in revenue. Jon also shares a detailed analysis of the strongest and weakest sectors, with notable mentions of the developer and engineering tech space and the transportation and logistics sector.
Quotes
- “There are unique challenges that private markets face. And you typically don't know if things are kind of trending in the right direction or companies are struggling until you kind of get that press release that comes out and takes everybody by surprise.” -Jon Cochrane [02:42]
- “People who know how to leverage AI are going to outperform people who don't know how to leverage it.” -Jon Cochrane [23:24]
Expert Takeaways
- Growth Uptick: SaaS companies are beginning to see a rebound in growth, with a noticeable improvement from previous quarters, particularly in usage and consumption-driven models.
- Pricing Models: Companies utilizing consumption-based pricing models are currently outperforming those with annual subscription renewals.
- Revenue Tiers: A distinct difference in performance exists between companies under and over one million dollars in revenue, with smaller companies experiencing a significant growth spike.
- Vertical Performance: Developer and engineering tech, and the transportation and logistics sectors have shown substantial growth, while e-commerce and retail lag behind.
- Market Dynamics: Insights into the dynamics between public and private market trends, indicating a cautious optimism in the industry.
Timestamps
(04:29) Economic Growth Uptick Amidst Recession Uncertainty
(10:00) Revenue Growth Dynamics for Early Stage vs. Established Companies
(20:10) Navigating Layoffs and Efficiency in the Tech Sector
(22:33) AI Augmentation's Impact on Efficiency and Investment in Marketing
(25:03) E-Commerce and Retail Struggle Amid Consumer Price Sensitivity
(27:06) Unpacking What Makes Top 10% Companies Stand Out
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