Do people often ask you who your competitors are? SaaS buyers have gotten more savvy when it comes to the buying process and they’ll do quite a bit of research before jumping into any buying decisions. This is especially true when multiple stakeholders are involved, and so I thought I’d save everyone some time and just tell you all about our competitors.
Here are our top 4 competitors:
#1 BI dashboards & reports
Thank you to the patient data and analytics teams who have built these business intelligence reports, received new requests from sales, CS, or marketing… rebuilt reports again, and so on. These have filled a big gap for a long time, but they also have some downfalls that are not-so-secret. For instance:
Even after building an awesome dashboard with everything everyone needs to know, you might find that your sales and customer success teams aren’t use it. What the heck? Well, it’s not because they don’t find it useful, but it doesn’t fit within their current workflow and it’s not super actionable.
Some teams have taken steps to make it more readily available, like surfacing these insights in Salesforce and Hubspot. But unfortunately it would still require the team to go to each individual customer or account page, so again, it’s underutilized.
Last but not least, data teams have more important projects to work on than changing one small piece of this under-used dashboard. Let’s set them free.
#2 Custom object fields in your CRM
This isn’t really a true competitor, but it’s worth noting because there’s a ton of confusion here. Amazing Reverse ETL tools like Hightouch and Census make it possible to pipe in product usage data from your data warehouse (Snowflake, Redshift, BigQuery) into your CRM (Salesforce, Hubspot).
This is a great step in enabling your team with some data, but each piece of data requires a custom field in your CRM and you still don’t have full context for acting on those insights. For instance, you can’t see change over time in data - so if someone logged in 3 times this week, that might look great, but what you’re not seeing is that they logged in 10 times per week consistently before. On top of this, it’s not just about “seeing” the right insights, but more importantly, acting on them. Correlated integrates with downstream tools, like Outreach, Salesloft, Slack, Hubspot, or can trigger Salesforce Tasks with context provided.
We’re big fans of Reverse ETL and if companies have already built this out, we can integrate directly with Census or Hightouch to better enable the use of those tools.
Yes, really. Our third biggest competitor is companies who are doing nothing to enable their revenue team to be notified and take action on key product actions and changes in usage. Maybe it was because they feared reaching out in a not-so-relevant way (this is especially true for developer tools companies), or maybe it was because they weren’t focused on expansion revenue or net dollar retention until today. But whatever the case, revenue was left on the table and the customer wasn’t getting the full value of the product, but now we’re fixing that.
Helping revenue teams reach out to the right users, at the right time, with the right message isn’t just good for your company, it’s good for your customers. You’re helping them get more out of your product, use additional products, or expand usage across the company. In turn, they’re better at their jobs, maybe up for a new promotion, and their company is performing better.
#4 Emerging startups
It’s no secret - when you’re solving a big problem, people need a solution. If you’re the only person building in a certain category, you might want to reconsider what you’re building. Only thing is… The concept of enabling revenue teams (sales, customer success, marketing) to be more product-led can and should be solved in many ways. Based on hundreds, thousands of conversations with leaders like you, we have our own way of doing this at Correlated (try for yourself). As long as it’s improving the buying and selling process, I’m all in.