Chili Piper

Nah, that lead was definitely an emergency 🔥 👨🚒 🚒

Event marketers, mark your calendars! Our very own Brandon Redlinger 🌶️ is speaking during Event Marketers Week, powered by Zuddl. His spicy session is all about building brand and driving demand: The Big Magic of Micro-Events in B2B Marketing. (You know, like the opposite of spending $$$ on a basic, boring booth at a big event.) He'll cover: 🌶️ How small events can lead to big pipeline and impact 🌶️ 3 steps to keep attendees engaged, interested and wanting more 🌶️ The biggest mistake event marketers make with micro-events that costs them deals 🌶️ The 3 key metrics to track for evaluating the success of your micro-event 🌶️ The post-event magic formula to turn interest into actionable business opportunities Register now: https://lnkd.in/gJxK-PAk

I was on the coast of Hawaii with my scuba gear, about to do a dive There was just one thing left to do…check my work email (after all, it had been a whole 2 minutes). I looked down and saw a response to my poorly drafted outbound email from a man named Nicolas at a company called Chili Piper. Little did I know, that email would change my entire career (and life). Hi 👋🏻 I’m Josh Aharonoff, CPA, taking over Chili Piper’s LinkedIn account. Here are 4 SaaS metrics I’ve learned after 4+ years as a fractional CFO for one of the fastest growing startups. 1. Annual Recurring Revenue (ARR) This may be the sexiest metric in town, and it’s for good reason. Most startups just take their monthly revenue and multiply by 12. Other startups take their MRR and multiply by 12. To me, these are both misleading. Annual Recurring Revenue represents the annual value of all active contracts that are on an ANNUAL recurring contract. It’s often calculated as such: Opening ARR [+] New - new annual amounts added [-] Churn - lost annual amounts (more on that below) [+] Expansion - added contract value from existing active customers [-] Contraction - lost contract value from customers still active and not opted out completely 2. Customer Acquisition Cost (CAC) Having a big ARR is impressive, but if you’re spending more money than you’re making to acquire those customers, then it’s a different story. We call that your Customer Acquisition Cost, or CAC if you want to sound cool. And it’s calculated by taking the total fully-loaded cost of your sales and marketing in a given time period and dividing it by your new logos won in that same time period. 3. Churn This metric is dangerous, so be careful. Churn represents what you are losing when a customer opts out of a recurring contract with you - this can be represented in dollars lost…or # of logos lost…or a % of either. The beauty of ARR businesses is if something goes wrong in month 2, you have 10 more months to make it right. 4. Net Dollar Retention (NDR) Churn is inevitable in any business…but that can be a lot less troublesome if customers expand with your service. To calculate Net Dollar Retention, simply take the sum of your expansion, contraction, and churn amounts, and divide by your opening ARR. Then multiply that by 100 to get a %. === These last 4 years with Chili Piper have been wild, and I’ve been fortunate enough to not only grow as a fractional CFO, but also as a CEO of our agency Mighty Digits - Chili Piper has been a huge inspiration for how to build an effective high performing team that is entirely remote. What’s your favorite SaaS metric? Let me know which ones you want me to explain in simple terms.

Didn't July just start? 😱 How did the first month of H2 go for you?

Alina Vandenberghe can obviously handle the heat 🌶

"I'm gonna start crying." 🥵 Did you know Kevin "KD" Dorsey was one of the earliest Chili Piper customers? According to Alina Vandenberghe, he was also one of the most challenging customers – but she mentioned his high expectations helped both the team and the product improve. Now, it's her turn to grill him! Kevin "KD" Dorsey, founder and CEO at Sales Leadership Accelerator, and Alina Vandenberghe, co-founder and co-CEO at Chili Piper, took over the Commsor 🦕 booth to discuss Kevin's career and the state of sales in our tenth episode of Hot Intros! Go watch! 👉 https://lnkd.in/e-46ikKc

You can (almost) always tell when something was written by AI. If you're using AI to crank out a bunch of crappy content, it's not going to go great for you. But AI *can* help with editing, summarizing, and distributing content. Tara Robertson recently spoke on a webinar with WebMechanix about how AI and Google's Search Generative Experience (SGE) update will impact your content strategy. She shared that she mainly uses AI *after* she creates her podcast content to help her: 🤖 Edit out filler words from interviews 🤖 Turn podcast episodes into blog posts 🤖 Find key takeaways from each episode 🤖 Write a summary of each episode The key is to start with great content before AI ever gets involved. (Garbage in, garbage out.) If you missed this webinar, you can still catch the replay 📹

Could never be us 💁♀️

MQLs 🤢 QHMs 😍 Marketing Qualified Leads are universally disparaged for a reason. MQLs are pretty subjective. It's easy to game the system and bolster numbers so Marketing looks good. That's why we use Qualified Held Meetings as our main metric at Chili Piper. They're far more likely to predict future revenue than MQLs. QHMs help Marketing and Sales stay aligned to have a bigger impact on the business. Here's how we define QHMs: 𝐐𝐮𝐚𝐥𝐢𝐟𝐢𝐞𝐝: To be considered qualified, the lead must meet specific criteria set by the sales AND marketing teams together. The criteria will be different for different organizations, but the bottom line is that quality (shared definition) matters more than quantity. 𝐒𝐚𝐥𝐞𝐬 𝐈𝐧𝐯𝐨𝐥𝐯𝐞𝐦𝐞𝐧𝐭: The presence of an AE is crucial because it signals a stage in the sales process where discussions are more in-depth and tailored to the prospect's specific needs. 𝐇𝐞𝐥𝐝 𝐌𝐞𝐞𝐭𝐢𝐧𝐠: The meeting must actually take place, indicating active interest – it's not enough for the meeting to be scheduled. This way, no leads slip through the cracks, and everyone is highly motivated to follow up with no-shows. Focusing on QHMs works if you: 👉 Have clearly defined and documented stages and entry/exit criteria 👉 Have clearly defined and documented Service Level Agreements (SLAs) and enforce them (i.e., you hold everyone accountable) 👉 Make QHMs one of marketing’s top 3 KPIs (and ideally, that’s how they’re compensated) What do you think? Would you try tracking QHMs instead of MQLs?

Just promoted our head of growth to head of growth and demand conversion. Here’s why Growth and Demand gen as a function in most marketing teams have become synonymous with any kind of tactic that increases footprint for the company Paid channels, partnerships, thought leadership, and sometimes even events might go under this function At Chili Piper, until recently, under “growth,” all the systems that allow us to increase our distribution in various channels However, we find that most juice comes from all the small optimizations across the path that improve conversion in those channels Some examples:  - A/B testing AUTOMATIC image generation for accounts we reach out to (where we include their forms/their chat etc) - these images were manual before !! - Automatic ICP identification and scoring for our accounts that improve our yields But even more important, as part of us drinking our own “champagne” We measure all these below - Serviceable Obtainable Market: An estimate of the portion of revenue within a specific product segment that you’re able to capture  - Target Accounts: A subset from the whole list of target accounts the marketing and sales decides to focus on  - Accounts Engaged: Accounts that have some awareness (accounts that follow social media, visit the website, sign up for the newsletter, attend events, download content, respond to sales emails) - Hand raisers: Marketing qualified accounts that have filled out a form or opened a chat conversation and requested to talk to sales  - Qualified Booked Meetings (QBMs): Accounts that were qualified that booked a meeting  - Qualified Held Meetings (QHMs): Accounts qualified that had a meeting in the books   - Sales Accepted Accounts: Accounts with an open opportunity  - Accounts with Closed won Opportunity aka Customers: Customers with a closed won opportunity   And have a maniacal goal of improving these metrics - Qualified Handraisers Ratio - ( Handraisers/Accounts Engaged x100)  - % qualified accounts requested to meet with sales or started a conversation  - Qualified Handraisers Booked Ratio -(Accounts Qualified with a Meeting Booked / Qualified Handraiser x100) - % qualified accounts booked a meeting with sales  - Qualified Meetings Held Ratio - (Qualified Handraisers Booked/Qualified Handraisers Meetings Held x100) - % of meetings held  - Qualified Meetings to Open Opportunity Ratio - (Open opportunities / Qualified Meetings Held x100 ) - % of opportunities open  - Open Opportunity to Closed Won ratio aka wins- (Closed won/Open opportunities x100) - %of opportunities closed won  To beat the benchmarks we collect (you can see more about our benchmarks here https://lnkd.in/ea7aabku ) As a result, Batikan Erdogan became our Head of Growth and Conversion Watch out for more experiments coming to our blog from his work