By Jim Roddy, VP of Marketing, RSPA
An added bonus to my trip last week to Santa Ana for BSM’s ISV IQ Live! Conference was driving north to Los Angeles to attend the Recurring Revenue Conference 2016. The Feb. 23 event attracted nearly 200 entrepreneurs and investors from Southern California to the gorgeous Skirball Cultural Center just outside LA.
Though this event wasn’t IT-focused, it attracted several software startups and online retailers, and it provided lessons about recurring revenue that could benefit VARs, MSPs, and ISVs.
I captured some of the event’s top observations and best practices as they happened on Twitter. Below are memorable quotes (less the hashtags and emoticons) from the Recurring Revenue Conference that pertain to our channel:
- The number one adjective used to describe SaaS is “simple.”
- A SaaS revenue share works well with small and startup companies who don’t have the capital right now.
- ISV: “We spend about two-thirds of our budget writing code to stay ahead of our competition.”
- When you get people into a brick-and-mortar environment, the lifetime spend of that customer goes way up.
- “The Internet allows people to lie farther.” FBI Special Agent Gabriel Andrews, security panelist
- Andrews: “An email is never a person. Authenticate before sending payment.”
My personal highlight of the conference was the keynote interview with Nick Green, co-CEO of Thrive Market, an online shopping club for natural foods and other eco-friendly products. Green, whose company has grown to nearly $100 million in revenue and recently eclipsed 180,000 paid members, shared advice related to recurring revenue and general business:
- “Acquiring a customer on a subscription model gives you a year to prove your value to them.”
- “Hiring right was so important. You can do incredible things when you leverage talent.”
- “Scrappiness and intensity are two requirements for a startup when hiring.”
- “Be selective – look for the people who have scrappiness and entrepreneurial ability.”
The second annual Recurring Revenue Conference was presented Feb. 23, 2016, in Los Angeles by Clear Capital Advisors. For more information, go to www.RecurringRevenueConference.com.