#113 - You Need a Smaller Team to Have a Bigger Impact with Joe Gelata (Part 1)

In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Anirudh Kuthiala, Director of Product Analytics at Groupon, shares a powerful framework for simplifying decision-making in product development cycles. He emphasizes the importance of integrating structured thinking and data-driven decision-making to prioritize ideas for maximum impact. Anirudh guides us through the stages of the framework, from opportunity identification to evaluation, enhancement, pivoting, or discontinuation. He illustrates how this framework not only streamlines the decision-making process but also aligns teams for success.

KEY TAKEAWAYS

• Simplify Decision Making: The framework simplifies complex decision-making by breaking it down into manageable steps, fostering critical thinking at each stage.
• Prioritize for Impact: Prioritization is crucial in product development. Data-driven decision-making helps allocate resources to ideas with the highest impact.
• Continuous Assessment: Just like stock investments, regularly evaluate your product's progress to determine whether to pursue, pivot, or discontinue.
• Opportunity Identification: Start with identifying opportunities for enhancement, not bugs. Bugs require immediate fixing, but opportunities need this framework.
• Data-Driven Prioritization: Use a prioritization framework based on business value and effort, making it easier to identify quick wins and big bets.
• Continuous Improvement: Product development is a cycle. If a problem arises, return to stage 1 and work on enhancement.
• Aligning Teams: To get groups of people aligned around a framework, connect the impact of the product to desired outcomes. This encourages alignment and decision-making based on the bigger picture.

HIGHLIGHT QUOTES

• "Simplifying something complex is difficult, but this framework is a one-time investment with a 10x return, both short term and long term."
• "In the end, data-driven decision making should enable you to decide among these three options: what to pursue, pivot from, or discontinue."
• "It's about making them successful at their jobs. In my experience, that makes it easier to get alignment."

You can find out more about Anirudh Kuthiala in the link below: 

• LinkedIn: https://www.linkedin.com/in/anikuthiala/

HOST: Gary Amaral
GUEST: Anirudh Kuthiala
Breadcrumbs Podcast

In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Gary Amaral welcomes Anirudh Kuthiala, Director of Product Analytics at Groupon, to discuss the art of structured thinking and frameworks in achieving epic product success. Anirudh shares his extensive experience and insights into creating effective strategies for product development. He emphasizes the importance of clear prioritization, effective project management, and the role of data in product innovation. This episode is a valuable resource for product managers, entrepreneurs, and anyone seeking to refine their product development process.

KEY TAKEAWAYS

• Effective product development requires a well-defined framework to avoid challenges like unclear prioritization and limited data.
• Confidence in product development is built on answers to questions like reducing dependence on intuition and connecting ideas to business growth.
• Success indicators and performance metrics are essential for evaluating a product's effectiveness, focusing on outcomes, and promoting motivation within cross-functional teams.
• The best approach to evaluating product effectiveness includes opportunity sizing, defining success metrics, and considering engagement metrics before launching.

HIGHLIGHT QUOTES

• "Lack of clear prioritization, ineffective project management, limited data, or poor change management practices can restrict the effectiveness of a product."
• "Confidence is super important because the last thing you want to worry about when you're developing or launching something is, 'I wasn't sure.'"
• "Not every idea should directly connect to the North Star; there should be success indicators or KPIs to evaluate a team's outcome, not just output."
• "It's super important for all teams involved in building a project to know how the product is positioned on a bigger picture."

You can find out more about Anirudh Kuthiala in the link below: 

• LinkedIn: https://www.linkedin.com/in/anikuthiala/

HOST: Gary Amaral
GUEST: Anirudh Kuthiala
Breadcrumbs Podcast

In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Neel Desai, Director of Product at Paddle, delves into the secrets of reducing cancellations and increasing customer loyalty. He highlights the significance of handling payment failures and the challenges in the evolving landscape of payment gateways. Neel provides valuable insights and practical tips, such as avoiding email notifications before payment failure, optimizing retries, using plain text emails, and localizing communication for global customers. The discussion emphasizes the importance of experimentation and offers strategies for optimizing term lengths and pricing to enhance the customer experience.

KEY TAKEAWAYS

• Reduce cancellations by 10-20% through effective salvage offers and offboarding.
• Payment failures are a major cause of customer loss, with 130+ unique reasons for card failures.
• Email notifications before payment failure can lead to higher cancellations, so use in-app messaging instead.
• Implement your own retries, targeting specific times for maximum success.
• Plain text emails perform better for payment failure notifications, resulting in 7-10% higher conversion rates.
• Localizing communication in the customer's native language can improve retention by 10% or more.
• Experimentation is key – aim for one experiment a quarter to continuously improve customer retention.
• Month-to-month pricing can reduce friction in the buying process, leading to higher conversion rates and easier upsells.

HIGHLIGHT QUOTES

• "Payment failures are the largest single bucket of lost customers."
• "Aim for one experiment a quarter. If it works, great, fold it into the default experience. If it doesn't, kill it."
• "Month-to-month is such a hack for enterprise products because it reduces the risk, and people can try it."
• "Most people just want to get in and play with the tool and make sure it gets value."

You can find out more about Neel Desai in the link below: 

• LinkedIn: https://www.linkedin.com/in/neelvdesai/

HOST: Gary Amaral
GUEST: Neel Desai
Breadcrumbs Podcast

In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Neel Desai, Director of Product at Paddle, shares valuable insights into boosting customer Lifetime Value (LTV) through tactical strategies. He highlights the importance of understanding that not all retention efforts are created equal and discusses how to implement strategies with high impact and low effort. Neil delves into the power of plan optimization, conversion from monthly to annual plans, and effective win-back and cancellation strategies. If you're looking to enhance your LTV and reduce churn, this episode provides actionable tactics to implement today.

KEY TAKEAWAYS

• Not all retention strategies are equally effective. Some tactical levers can significantly boost LTV with relatively low effort.
• Longer-term plans, such as quarterly and annual options, result in much higher LTV in both B2C and B2B SaaS.
• To encourage customers to opt for annual plans, it's essential to time your outreach correctly, usually around the 8-12 week mark.
• Use plain text emails and quantify the discount in months free rather than a percentage to increase conversion rates.
• Implement win-back and cancellation strategies by cataloging why customers are leaving, offering salvage or discounted plans, and being explicit about renewals to reduce churn.

HIGHLIGHT QUOTES

• "Not all retention is created equal. Some of these things like improving time to value or upsells are strategic projects. However, there are tactical improvements with high impact and low effort."
• "Longer term plans typically mean much higher lifetime value. Your power users opt into longer terms to get more benefit from your product."
• "When it comes to cancellations, it's crucial to understand why customers are leaving and predict future churn moments."
• "Use plain text emails and quantify the discount in months free to boost the conversion to annual plans."
• "Implement win-back strategies, offer salvage plans, and be explicit about renewals to save as many customers as possible."

You can find out more about Neel Desai in the link below: 

• LinkedIn: https://www.linkedin.com/in/neelvdesai/

HOST: Gary Amaral
GUEST: Neel Desai
Breadcrumbs Podcast

In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Amy Beaudoin shares her expertise on competitive intelligence and why it's about much more than just feature comparisons. She discusses the importance of creating battle cards that highlight the holistic customer experience, quotes, category leadership, unique features, and weaknesses of your product in relation to competitors. Amy also emphasizes the value of interviewing customers who have switched and shares insights on how to approach feature comparisons strategically.

KEY TAKEAWAYS

• Competitive intelligence goes beyond feature comparisons; it's about showcasing the overall customer experience.
• Battle cards should emphasize customer success, category leadership, unique product features, and weaknesses in the competition.
• Interviewing customers who have switched provides valuable insights and credibility.
• When using feature comparisons, focus on highlighting critical features and explaining why they're better.
• Third-party endorsements, like Forrester Waves, can be powerful in side-by-side comparisons.

HIGHLIGHT QUOTES

• "Competitive intelligence is really knowing how good your business is versus the competition."
• "The richer the story around what you're solving, the better."
• "Highlight the ones that are critical and show how your software is better."

You can find out more about Amy Beaudoin in the link below: 

• LinkedIn: https://www.linkedin.com/in/amy-beaudoin/

HOST: Gary Amaral
GUEST: Amy Beaudoin
Breadcrumbs Podcast

In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Amy Beaudoin, Product Marketing Director at Visier. Amy shares her insights on why competitive intelligence goes far beyond a simple feature-by-feature comparison. Learn how to differentiate your product or service from competitors, make informed decisions, and create a compelling sales strategy. Discover the various aspects of competitive intelligence, from customer experiences to pricing strategies and product vision. Amy's practical advice will help you stay ahead in the competitive landscape.

KEY TAKEAWAYS

• Competitive intelligence isn't just about comparing features; it's about understanding the overall customer experience, sales process, and more.
• Highlight the strengths and weaknesses of your competitors, including service quality and support.
• Utilize third-party interviews with customers to gain unbiased insights into why they chose or switched products.
• Evaluate pricing strategies and how your competitor's pricing may affect your market positioning.
• Leverage analyst reports to understand how your competitors are perceived in the industry and their long-term vision.

HIGHLIGHT QUOTES

• "Sometimes you can't compete at all if you're going feature by feature." - Amy Beaudoin
• "You want to highlight the fact that you're able to get answers to your questions a lot faster than your competitors." - Amy Beaudoin
• "Your customers want to make sure that you're going to continuously innovate and keep up with market demands." - Amy Beaudoin
• "Competitive intelligence is about understanding not just the software but the overall experience, from buying to post-purchase." - Amy Beaudoin

You can find out more about Amy Beaudoin in the link below: 

• LinkedIn: https://www.linkedin.com/in/amy-beaudoin/

HOST: Gary Amaral

GUEST: Amy Beaudoin
Breadcrumbs Podcast

In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Jacki Leahy, the founder of Activate the Magic and a Salesforce consultant, and Joe Aicher dive into the complexities of Revenue Operations. They discuss the challenges of achieving a single source of truth and the importance of fostering alignment within organizations. Jacki emphasizes the need for a data dictionary squad and highlights the significance of cross-functional collaboration. The conversation also touches on the evolution of RevOps tech stack, with Jacki recommending middleware solutions like Synchry to normalize and orchestrate data effectively. Join this discussion to gain insights into how RevOps professionals can navigate the world of data ambiguity and drive success in their roles.

KEY TAKEAWAYS

• RevOps professionals should not be swayed by conventional wisdom but instead approach their roles with self-confidence and a touch of humor.
• Building a data dictionary squad with cross-functional team members can help organizations align on key metrics and definitions.
• The absence of a single source of truth is a common challenge, and data normalization and orchestration are crucial for successful RevOps.
• The choice of the main source of truth (CRM, data warehouse, etc.) depends on the company's stage and needs.
• Fostering collaboration and alignment in the early stages of data architecture design is vital to avoid data fiefdoms and conflicts.

HIGHLIGHT QUOTES

• "You keep using that word. I do not think it means what you think it means."
• "The more we come to the table together to figure it out in the beginning, the better."
• "It's just, it's everywhere, and it sucks."

You can find out more about Jacki Leahy in the link below: 

• LinkedIn: https://www.linkedin.com/in/jackileahy/

HOST: Joe Aicher
GUEST: Jacki Leahy
Breadcrumbs Podcast

In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Jacki Leahy, the founder of Activate the Magic and a Salesforce consultant, shares her perspective on the concept of a "single source of truth" in business operations. She humorously dissects the idea and offers practical insights on how to navigate the complexities of data management and integration in today's business landscape. With a touch of Mean Girls humor and real-life anecdotes, Jacki challenges the conventional wisdom and presents a more nuanced approach to data management that is both informative and entertaining.

KEY TAKEAWAYS

• The Single Source of Truth Paradox: Jacki discusses the Dunning-Kruger effect and how the more she learned about data, the more she realized how little she knew. She questions the existence of a universal single source of truth for organizations.
• Contextual Truth: Jacki suggests that different departments within an organization may have their own "single source of truth," and that the concept is highly contextual and relative.
• Middleware Evolution: Jacki highlights the limitations of traditional middleware solutions, which can break easily with minor changes. She introduces the idea of Middleware 2.0, a distributed approach that can better accommodate the complexities of modern data management.
• Data Dictionary: To bridge communication gaps, Jacki recommends creating a data dictionary that establishes common definitions within the organization, beyond software-specific definitions.

HIGHLIGHT QUOTES

• "The more I learn about data and how it works, the more I realize that I actually know nothing. I know nothing."
• "We're not special; we're all pretty much the same. So all these software solutions saying you're special, you need this – no, we're not special."
• "Manage project expectations – push back on the highfalutin idea of a single source of truth for the entire organization."
• "When we say customer, what do we actually mean? What's our organization's definition beyond software-specific definitions?"
• "Consider a distributed source of truth approach, like Middleware 2.0, to keep data in sync across the organization without being tied to a single platform."

You can find out more about Jacki Leahy in the link below: 

• LinkedIn: https://www.linkedin.com/in/jackileahy/

HOST: Joe Aicher
GUEST: Jacki Leahy
Breadcrumbs Podcast

In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Karl Wierzbicki, a VP Sales & Marketing at Weavik Inc., shares a real-world case study from his marketing experience. He dives into a campaign that underwent a significant strategic shift and discusses the challenges that arose during its execution. Karl highlights the importance of recognizing and learning from marketing failures, emphasizing the need for post-mortems and adjustments to prevent making the same mistakes in the future. The episode provides valuable insights into normalizing the idea that marketing is a probabilistic endeavor and the importance of credibility and systematic problem-solving in marketing strategies.

KEY TAKEAWAYS

• Marketing as a Probabilistic Endeavor: Marketing involves making a portfolio of initiatives, some of which will succeed, while others may fail. Normalizing this idea is essential in the marketing profession.
• The Value of Post-Mortems: After a marketing initiative fails, conducting a thorough post-mortem to understand the root causes and make adjustments is crucial to prevent similar failures in the future.
• Credibility in Marketing: Demonstrating seriousness in addressing failures and implementing procedures to avoid recurring mistakes is vital for building credibility with the CEO, CFO, and the entire organization.
• Continuous Improvement: Marketing is an ongoing process, and learning from failures is an essential part of continuous improvement in marketing strategies.

HIGHLIGHT QUOTES

• "We were gambling with an unproven go-to-market strategy."
• "You want to make winning bets more often than you make losing bets."
• "The signals that you send after making a losing bet are extremely important to your credibility."
• "To me, it comes down to having credibility with the CEO, having credibility with the CFO, and having credibility with the rest of the organization."

You can find out more about Karl in the link below: 

• LinkedIn: https://www.linkedin.com/in/karlwierzbicki/

HOST: Armando Biondi
GUEST: Karl Wierzbicki
Breadcrumbs Podcast

In this episode of The Revenue Cafe Podcast by Breadcrumbs Hot Takes Live, Karl Wierzbicki, a VP Sales & Marketing at Weavik Inc., challenges the conventional wisdom by arguing that every company should fail at marketing. He highlights the rapidly changing and unpredictable nature of the business world, emphasizing the need for adaptability and resilience. Karl delves into the valuable lessons that can be learned from marketing failures, including the opportunity to reevaluate assumptions, refresh foundational elements, and build habits that enhance a company's ability to respond to a dynamic environment.

KEY TAKEAWAYS

• The VUCA World: The volatile, uncertain, complex, and ambiguous (VUCA) nature of the business world makes it impossible to make perfect decisions, and the pace of change is outstripping companies' ability to adapt.
• Common Challenges: Karl outlines various challenges, such as chaotic workforces, talent shortages, enduring economic pessimism, and the increasing importance of AI in business strategy.
• Topic Avoidance: Avoiding discussions about marketing failures can be detrimental, as it often unfairly attributes blame to marketing teams and prevents a holistic examination of the root causes.
• Loss Aversion: The fear of failure can lead to making safer, smaller bets in marketing, hindering the pursuit of bold strategies with significant rewards.
• Shiny Object Syndrome: Blaming marketing tools for failures without a deep dive into root causes can perpetuate the belief that the latest technology is the solution, when in fact, the problem may be more fundamental.
• Learning from Failure: Embracing marketing failures as valuable data points can lead to improved collaboration, reassessment of foundational elements like ideal customer profiles and messaging, and the development of resilience in go-to-market strategies.

HIGHLIGHT QUOTES

• "We live in a world where we don't have all of the information or the opportunity to make perfect decisions."
• "Failure is good practice for adaptation and innovation. Take advantage of it."

You can find out more about Karl in the link below: 

• LinkedIn: https://www.linkedin.com/in/karlwierzbicki/

HOST: Armando Biondi
GUEST: Karl Wierzbicki
Breadcrumbs Podcast