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LOCALOGY ENGAGE 19: SMBs and KPIs - Sharing Data that Drives Success

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This session was presented at the LOCALOGY ENGAGE 19 event in Washington, D.C., June 3-4, 2019.

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LOCALOGY ENGAGE 19: SMBs and KPIs - Sharing Data that Drives Success

  1. 1. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m WHAT DO YOUR SMALL BUSINESS CUSTOMERS WANT? (and why aren’t you giving it to them?) We’ve learned these three fundamental things from four waves of LSA small business tech adoption research. No. 1: SMBs are steadily moving their businesses into the cloud. No. 2: They are seeing real benefits from doing so. No. 3: The SMB software industry is failing to fully realize this opportunity.
  2. 2. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m ABOUT THE SMB SURVEY Four waves of data since 2017 Approx. 1,000 completes per wave SMBs = 500 or fewer employees Latest wave (IV) completed in April Results weighted based on census business sizes New focus in Wave IV on how SMBs use software
  3. 3. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m THREE MAJOR THEMES No. 1: The steady march into the cloud No. 2: SMBs’ benefitting from the shift No. 3: Developers’ failing to capitalize
  4. 4. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m 1. THE STEADY MARCH INTO THE CLOUD
  5. 5. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m SMB CLOUD-BASED SERVICE ADOPTION KEEPS EXPANDING U.S. SMB ADOPTION RATES OF CLOUD-BASED SERVICES* Cloud-based software is quickly becoming the default technology for many SMBs Sources: LSA Modern Commerce Monitor Survey, 2017-2019; 4,029 SMBs; Thrive Analytics, Local Pulse Report™, 2017-2019; 6,685 SMBs. *Estimates based on SMBs that use cloud-based services at least once a month to support a business function. 35% 42% 55% 65% 75% 2017 2018 2019 2020E 2021E +180% since 2016
  6. 6. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m THE ADOPTION TREND WILL CONTINUE SMBs THAT DON’T USE CLOUD-BASED SERVICES THAT PLAN TO START USING THEM IN THE FUTURE Nearly half of SMBs that don’t use cloud- based services plan to start using them. SMBs THAT CURRENTLY USE CLOUD- BASED SERVICES THAT PLAN TO PURCHASE MORE IN THE FUTURE 49%51% Yes No 49% of Non Users Plan To Shift Services 65% 35% Yes No 65% of Users Plan To Get More Services Source: LSA Modern Commerce Monitor Survey; Wave IV: N= 1,015 SMBs
  7. 7. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m 2. BENEFITTING FROM THE SHIFT
  8. 8. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m WHY DO SMBS ADOPT CLOUD TOOLS? 8 Source: LSA Modern Commerce Monitor Survey; Wave IV: Have shifted N= 795 SMBs; Considering N= 787 SMBs. 81%
  9. 9. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m HOW DO THEY SPEND THE EXTRA TIME? 9 Source: LSA Modern Commerce Monitor Survey; Wave IV: Have shifted N= 795 SMBs; Considering N= 787 SMBs. 60%
  10. 10. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m WHY DO SMBS ADOPT CLOUD TOOLS? 10 Source: LSA Modern Commerce Monitor Survey; Wave IV: Have shifted N= 795 SMBs; Considering N= 787 SMBs. 45%
  11. 11. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m 3. DEVELOPERS FAILING TO CAPITALIZE
  12. 12. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m WHAT DO NON-USERS SAY? Source: LSA Modern Commerce Monitor Survey; Wave IV: Have shifted N= 795 SMBs; Considering N= 787 SMBs. 45%
  13. 13. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m SMBS ARE UNDERUTILIZING YOUR SOFTWARE Source: LSA Modern Commerce Monitor Survey; Wave IV: Have shifted N= 795 SMBs; Considering N= 787 SMBs. 62%
  14. 14. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m WHAT MAKES ENGAGEMENT BETTER? Source: LSA Modern Commerce Monitor Survey; Wave IV: Have shifted N= 795 SMBs; Considering N= 787 SMBs. 76%
  15. 15. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m Localogy:Engage 2024 Washington DC - June
  16. 16. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m The Localogy Forecast
  17. 17. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m Key Assumptions and Drivers ➔ SMBs are 98% of all businesses in the US ➔ SMBs drive about 46% of US GDP or about $9T ➔ SMB ownership is undergoing a generational shift - selling or turning over to next generation ➔ New SMB business owners have grown up in the Internet, mobile and App world ➔ SMB adoption of cloud tools and solutions will accelerate with generational shift
  18. 18. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m 98%
  19. 19. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m 46%
  20. 20. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m $9T
  21. 21. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m 75%
  22. 22. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m The “Typical” SMB P&L CRM Advertising & Marketing Supply Chain Operations & Finance Human Capital Profit Margin 2% 2% 25% 11% 45% 15%
  23. 23. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m SaaS to SaaT - What and Why? ➔ SaaS models will continue to be part of the landscape ➔ SaaT: monetization models - (Software as a Transaction) will develop over the next decade ➔ SaaT - shifts the mind set for SMB from pay per X to “pay as they go” ◆ For instance - Payroll is per employee - why not shift to % of payroll spend - allows for more value add via a %, just payroll pays %, other HR functionality drives up % based on total payroll
  24. 24. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m SMB SaaS and SaaT Spend 2019 2024 SaaS $14B $15.3B SaaT $53B $87B % of SMB GDP 0.72% 1.01%
  25. 25. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m SaaS and SaaT Share of SMB Spend 2019
  26. 26. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m SaaS and SaaT Share of SMB Spend 2024
  27. 27. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m WHAT DO YOU THINK?
  28. 28. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m ABOUT THE INDUSTRY SURVEY  Online survey of those likely to attend this event  Questions explore what drives SMB SaaS churn & techniques to mitigate churn  Full results to be shared in an upcoming LSA white paper in partnership with Mono Solutions
  29. 29. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m WHY DO YOUR CUSTOMERS CHURN? NO 1 RESPONSE? “NOT USING THE PRODUCT” NO 2 RESPONSE? “FAILURE TO SET EXPECTATIONS” NO 3 RESPONSE? “COST” LSA SMB/SaaS Engagement Survey 2019, n = 36
  30. 30. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m WHAT IS THE ENGAGEMENT CYCLE? In your experience, how much time does an SMB SaaS provider have to establish customer engagement with its product before churn becomes likely? 19% 10% 45% 16% 10% ONE DAY ONE WEEK ONE MONTH SIX MONTHS ONE YEAR LSA SMB/SaaS Engagement Survey 2019, n = 36
  31. 31. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m WHAT WORKS IN DRIVING ENGAGEMENT? NO 1 RESPONSE? “IMPROVED MESSAGING/ EXPECTATION SETTING” NO 2 RESPONSE? “SERVICE CALLS TO CUSTOMERS AT REGULAR INTERVALS” NO 3 RESPONSE? “INVEST IN ONBOARDING/ TRAINING” LSA SMB/SaaS Engagement Survey 2019, n = 36
  32. 32. ENGAGE: SaaS/SMB w w w . l o c a l o g y . c o m Thank You! Charles@TheLSA.org

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