how i shifted my business one subscription at a time (subscribed13)
DESCRIPTION
Informatica - Ron Papas, SVP Subscriptions Nintex - Ryan Duguid, VP Product Management Are you looking to transition your traditional software business to the subscription economy but aren't sure how? Come hear from two on-premise software providers about how their companies are making the, and the lessons they learned.TRANSCRIPT
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How I Shifted My Business One Subscription at a Time
Ron Papas SVP Subscription Sales
Ryan Duguid VP of Product Management
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The Nine Keys to Subscription Success
$
PRICE ACQUIRE BILL COLLECT
NURTURE ACCOUNT MEASURE ITERATE SCALE
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How I Shifted My Business One Subscription at a Time
Ron Papas SVP Subscription Sales
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Agenda
1. Informa<ca Company Introduc<on
2. How Informa<ca Uses Zuora
3. Our Top Subscrip<on Essen<als 4. Lessons Learned 5. Wrap Up & QA
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Informa<ca Company Intro • World’s #1 provider of Data Integra6on So8ware • Over 5,000 Enterprise So8ware and 2,000 Cloud Customers • Cloud solu6ons for Applica6on integra6on & Data Quality • Voted “ Best Integra6on Product” on AppExchange last 5 years • Q2 2013 So8ware Revenue $91.4M
• $80.1M License (18% YoY growth) • $11.3M Subscrip6on (70% YoY growth)
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How Informa<ca Uses Zuora
Idea to Launch in 4 Weeks!
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Our Top 3 Essen<als
Informa(ca uses pricing and packaging as a compe((ve differen(ator. Usage based pricing allows us to reach more partners & SMB customer by offering them maximum pricing flexibility.
Informa(ca tradi(onally sold enterprise soCware to global 5,000 companies. With our Cloud offerings, we are now able to target and acquire new customers of all sizes and greatly broaden our market opportunity.
1 2 P R I C E , A C Q U I R E , S C A L E
Given the lower ASP for our Cloud offerings (star(ng at $99/month), we needed to implement scalable processes for everything from Demand Genera(on, to Customer Acquisi(on to Sales Opera(ons & Renewals
3
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Subscrip<on Essen<al : Price I n f o r m a t i c a P r i c i n g & P a c k a g i n g J o u r n e y
We ini6ally launched with a freemium model
Free Data Loader
Edi<on Based Pricing Model
We introduced 4 Edi6ons from $18K to $96K/yr
Informa<ca Cloud Express
Usage based pricing filled gap between FREE and $18K/Yr
ELA’s
Some Customers may prefer to sign an ELA to get maximum flexibility & preferred terms
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Subscrip<on Essen<al : Acquire W e a d d e d > 2 , 0 0 0 n e w C l o u d c u s t o m e r s ! !
Self-‐Service
• Freemium • Express $99+
Direct
• Corporate • Enterprise
Channel
• Sourced • Resellers • OEM
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Subscrip<on Essen<al : Scale S c a l a b l e s y s t e m s a n d p r o c e s s e s n e e d t o b e i m p l e m e n t e d
u p f r o n t o r v e r y s o o n a 8 e r l i 8 o ff
• Demand Gen Machine • Frequent product itera<ons • Scalable CRM System
• Self-‐Service model for Freemium & Express offerings
• Customer Success Team • Separate Renewals Team
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Lessons Learned
Point 1:
B E S T P R A C T I C E S
Point 2:
Point 3:
Everything is different in a Cloud/Subscrip6on business Product, Sales, Marke6ng, Customer Success, Opera6ons… You need to setup a separate team to get started Recurring revenue/Renewals/Customer Success are the lifeblood of the business
Don’t be afraid to experiment! You need to constantly innovate and iterate (product as well as pricing/packaging)
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How I Shifted My Business One Subscription at a Time
Ryan Duguid VP of Product Management
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The Nintex Journey
Beginning
A U T O M A T I N G E V E R Y D A Y P R O C E S S E S
Growing
Accelera<ng
Born out of a system integrator that saw an opportunity Created clear value for partners and customers Focused on growing channel
Over 5000 customers and nearly 50% of the fortune 500 Supported by a network of over 800 partners in 90 countries Recognized as the #1 ISV on Microso8’s SharePoint planorm
Major investment from TA Associates and Updata Partners Rapidly expanding sales, marke6ng and R&D (we’re hiring!) Taking workflow to everyone, everywhere, all the 6me
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Living In Denial
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Hoping For A Solu<on
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Star<ng The Journey
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Choosing The Variables
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Working The Numbers
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Deba<ng The Results
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Launching The Service
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How Nintex Uses Zuora
Background
P L A T F O R M O V E R V I E W
Business Model
The Challenge
Running Great Plains and Dynamics CRM Licensing and billing built on our own planorm Far too many SKUs
On premise enterprise so8ware vendor Majority partner driven through a network of VARs Minimal direct sales to larger customers
We needed a billing planorm to manage a wide variety of pricing strategies across a diverse and growing customer base and we had a very short 6me frame to get it in place. The planorm would have to support one 6me charges, fixed recurring charges and variable costs. We also had to migrate our exis6ng annuity contracts.
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Our Top 3 Essen<als P R I C E , M E A S U R E , I T E R A T E
The move to the cloud offers new opportuni(es to mone(ze our offerings. Nintex uses pricing and packaging to provide customers with greater flexibility, and to ensure that we can constantly deliver and mone(ze new capabili(es.
To ensure we’re building differen(ated products at the right price, Nintex needs to accurately measure every aspect of the business. Whether we’re looking at MRR, product mix, or upsell opportunity, we need (mely access to accurate informa(on.
1 2 Once you’re pricing is released and you start to measure the impact, you’re going to find areas that can be fine tuned. For Nintex, the ability to rapidly iterate on pricing as well as product is cri(cal to ensure that we keep our customers happy and grow our business.
3
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Subscrip<on Essen<al : Price N i n t e x P r i c i n g & P a c k i n g J o u r n e y
We are launching with a per user pricing model
A new way to pay
Buy what you need
The Nintex Store provides a new way of mone6zing innova6on
Trial is cri<cal 30/60/90 day plan
Hybrid support Op6ons for our customers who live in a hybrid world
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Subscrip<on Essen<al : Measure W A T C H I N G O V E R O U R B U S I N E S S
Today: Lots of effort to track the numbers and hard to spot issues. No visibility in to how
our products get used.
Tomorrow: Real <me insights in to MRR, upsell opportuni<es, and churn. Constant feedback on how customers
are using our products.
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Subscrip<on Essen<al : Iterate G E T T I N G I T R I G H T W I T H T I M E
Pricing v1.0 Pricing v2.0 Pricing v3.0
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Lessons Learned
Start early
B E S T P R A C T I C E S
Seek input
Ship it
The longer you put it off, the more painful it gets Get buy in from across your business
Do your homework and connect with others Recognize that only you know what’s right for your business
Gerng it done is more important than gerng it perfect Release, experiment, measure, iterate
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Q&A
Thank You!