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Mural Ventures Blog

Blog Entries from Mural Ventures Team Members

June 2007 - Posts

  • Static vs. Conversational Web Sites -- Thoughts on Scaling SMB Distribution

    My friend Isabel Wang wrote a fascinating post regarding web sites and scalability (or lack thereof) within the SMB market.  Specifically, Isabel references a thoughtful post from Andy Schroepfer regarding the recently announced merger between Web Site Pros and Web.com.  Andy is shareholder in Web.com and offers some truly interesting technical, if not partially biased, analysis on the merger.  His premise is that both companies have solid fundamentals and both are undervalued and ponders broader market dynamics that could come to fruition to boost the value of the combined company.

    Equity research aside, Isabel highlights the simple fact that both companies are "still battling for a slice of the massive SME market opportunity, which both firms have always talked about but barely shown the results."

    One thing is for sure -- targeting the massive market known as SMBs requires massive scale.  How does one achieve massive scale?  I wish i knew the answer.  But, in truth, i only have opinions.

    In my opinion, it is possible to achieve huge scale in one of two ways:

    • in a direct distribution model over the course of many years by those who execute extremely well and who have access to significant amounts of equity capital.
    • in a channel distribution model over the course of fewer years by those who execute extremely well and who have partnership-level access to existing customer bases consisting of millions of SMBs.

    Regardless of your distribution model, the more important element of success is to deliver "simple to use" products and services that enable small businesses to become active participants in the conversational web.  Success requires simple tools that SMBs can use to dynamically define themselves as often as they wish -- monthly, weekly, daily, hourly.  Massively scaleable success requires a full-blown ecosystem that encourages SMBs to actually participate.

  • SaaS Selling Lessons from IKEA and Hot Dogs

    Spent some time at IKEA this morning buying bowls we didn't need, and found a couple of IKEA practices to be amazing sales strategies that I believe evolved broadband providers (and any SaaS provider) can and should think about applying to how they transact SaaS sales. 

    Specifically, after winding our way through an eternity of oddly shaped and designed lamps and desks, we finally checked out.  The 'give us your money' time of the day.  Typically this is an unpleasant experience, except IKEA has figured out how to make you EXCITED to get through it.  Specifically, just on the other side of the check-out are these MASSIVE signs advertising 50 cent hot dogs.  HOLY SH*T I said.  I LOVE hot dogs.  50 cents is a frickin steal.  I'll get 2.  One for me and one for (theoretically) my son Calvin (aka - a second one for me).  Tax is included, so it's an even buck making the transaction seamless.  So instead of leaving the store with buyer's remorse about spending money on chair cushions my new daughter Harper is just going to puke on anyway, I left the store feeling like I had gotten an absolute steal.  And I'm not the only one.  I saw dozens of grown men with the $1 ice cream cones (their kids had them too).

    But cheap hot dogs and ice cream cones is not the end of the brilliance.  One might say….sure….it's easy to effectively give away hot dogs and make people love you.  And it is.  You give me a hot dog and I will profess undying love.  But I guarantee that IKEA is not losing money on this scheme.  And here's why.  The sodas are $1.  But I was so focused on my hot dog I didn't care.  For those of you who have read SuperSize Me, a fountain soda like that likely costs them no more than 5-10 cents (including cup and straw).  So 90 cents of profit on the soda to offset the loss-leader hot dog.
     
    So how could SaaS vendors apply some sales lessons from IKEA to their products?  Some random brainstorms….I am sure there are many, many more:
     
    1.  30-Day Storage Incentive - Storage is a big part of SaaS products, and is getting cheaper and cheaper (like soda).  Could a vendor give me free (or maybe just discounted) storage for signing up within 10 days (versus a traditional 30-day SaaS trial).
    2.  Storage for 'cheap' - There are other things of value to SaaS vendors besides money.  For example, a well-qualified lead/referral is probably worth $10 and much more if the customer converts.  So what about inserting, on check-out, a MASSIVE sign that says 'Thanks for signing up.  If you would just be so kind as to tell 5 friends about XXX product and why you're using it (remember - these customers just bought so they are as thrilled with the product as they might ever be), then we'll give you X storage for free.  Or 1/2 month delayed billing.  Or 30 days free.  Or XX more for your service level.
    3.  Secondary Product Cross Sell - Because we love you for signing up for Product 1, use this Promo Code and get Product 2 for half off.  Since a major part of our cost (the meat of the hot dog) is in finding customers, getting an easy cross-sell win makes the total cost of the hot dog work for us.
    4.  Something Else (an ice cream cone) - Thanks for signing up.  If you just refer 5 friends then we'll send you a gift certificate to an ice cream parlor.  We'll appeal to your stomach.
     
    And on and on.  The point being how do SaaS providers transition the 'checkout process' (upgrading) to a 'boy I just got a deal' experience that will drive referrals and thrilled customers.
  • Microsoft Hosted Apps -- What it means for the channel and your future...

    If you listened carefully last week at TechEd then you probably heard Microsoft announce that big companies can now buy Microsoft-hosted versions of Exchange, SharePoint, and Office Communications Server.  Check out this article and this one written by Nick Hoover and published in InformationWeek.

     

    The summary is that large customers like Energizer are already paying Microsoft to host, manage, and deliver business class email services in a utility model.  Of course smaller business customers (those with limited IT staffs) have been purchasing hosted Exchange services for years from the likes of Apptix and Intermedia.  Furthermore, in the hopes of delivering software as a service and business class email to millions of small businesses (those with non-existent IT staffs) Microsoft is now offering OfficeLive.

     

    At the end of the day – like most people – Microsoft believes that SaaS is inherently valuable to all segments of the market – ranging from very large customers, down to very small customers.  In fact, Ron Markezich, VP of Managed Services was quoted as saying, “you could see all of our products being available as a service in the future."  If this is true, then Microsoft is clearly operating in the early stages of a massive and difficult shift from “license oriented” customer relationships to “service oriented” customer relationships.

     

    I personally spent 3.5 years at Groove Networks where I had the great pleasure of working for Ray Ozzie.  IMHO, if anyone is capable of assisting MSFT in this herculean transition then surely it is Ray.  But it will not be easy.  In fact, it is guaranteed to be a hugely disruptive effort, especially for (A) Microsoft’s shareholders who have become quite comfortable with fat margins associated with traditional software licensing models, and (B) Microsoft’s customers who have never once had to deal directly with Microsoft from a service and support perspective.

     

    Of course, the biggest question from my selfish perspective is what does this mean for Microsoft’s channel partners?  VARS, Solution Providers, Telcos, and hosters?  All of these ecosystem players are clearly studying the implications of SaaS on the overall landscape.  Based on recent events they have to be saying to themselves, “let me get this straight - Microsoft is competing directly with me at the low end with Office Live, and directly with me in the mid-to-high end with Exchange Live and SharePoint Live".  So where does the channel play?

     

    I don’t profess to know the answer, but I do believe that one of the keys to succeeding in the future of SaaS (especially for Telcos and hosters) is to own the customer relationship and avoid being further relegated to commodity provider of ping, power, and pipe.  In general, I think channels should pursue things like Tradespace, Workspace, ePoint, etc.  If the global technology services channel (and in particular Telcos and hosters) don't innovate to shape their own SaaS product roadmaps, then I suspect their future will be defined by increased churn, shrinking margins, and early death.

     

    The good news is that there are definitely options out there in the world of SaaS.  So look carefully – and be sure to study Microsoft’s offerings at such time they become available.  But, above all, be sure to find ways to control your destiny.

  • SMBs Sampling SaaS via Telecoms

    A friend of mine named James Murfin sent me a fascinating article today.  You can check it out here.  In summary, the article says what SMBLive has been saying along:

    • Telecoms providers are looking beyond traditional voice and data offerings and tapping into the growing (and lucrative) Software as a Service (SaaS) market
    • SMBs prefer to work with trusted advisors when making technology decisions.
    • The SaaS market is flooded with young companies unfamiliar to SMBs, but those SMBs have long-established relationships with their telecom providers.

    A few interesting quotes from analysts:

    • "I do think when it comes to technology adoption, (SMB) companies will go towards trusted advisors and established relationships to help navigate those purchases," IDC's TenWolde said. "I think a lot of the telecom companies are looking at SaaS and SaaS-related opportunities."
    • Jeff Kaplan, from ThinkStrategies said, " I think we're going to see more of this." Internet service providers and other telecoms are seeking ways to differentiate themselves by offering a "fuller suite of services that can enhance their position and better serve their customers".

    Further, some analyst research pointing to strong demand for SaaS among SMBs:

    The bottmline is that (1) SMBs have a need for simple and affordable software, (2) SMBs will prefer to purchase SaaS from provides they know and trust, (3) telco carriers are highly motivated to capitalize on this trend. 

  • Betting Big at MAVA -- Why We'll Win the SMB Market for SaaS!

    I was in Baltimore last week presenting at the Mid-Atlantic Venture Association (MAVA) 2007 Capital Connection Conference.  I was there to introduce my company SMBLive to the local business community and to socialize with prospective capital partners to dramatically accelerate our growth.  It was an interesting and successful exercise overall.  Definitely, lots of smart people.  Not surprisingly most of the presenting companies were promoting technology products and services targeting the enterprise IT and Government IT markets.  Only a handful of companies were offering products designed for the small business market.

    Why is that?  Why do most technology companies (big or small) continue to ignore the mass market for SMB solutions?  The reason, of course, is scale.  The market is not only massive -- but it is massively fragmented.  Depending on your definition, the target is approximately 15 million businesses in North America and the UK alone.

    Marketing guru Seth Godin gave a fascinating talk on Wednesday during lunch.  He suggested that in general people tend to target niches in the long tail of humanity mainly because people are trained to be average and therefore are afraid to target a truly huge opportunity in the head of the curve.  This made me feel pretty good because we’re definitely targeting the fortune 15 million.  Therefore, we must be really brave (or really stupid)?  But we’re definitely not thinking small.

    Instead, we’re laser focused on building SMB software solutions for purposes of targeting the massive opportunity at the head of the demand curve.  To achieve massive scale we’re building our software upon (and attaching it to) a pervasive platform element which is ubiquitous within the SMB market.  I am talking about broadband connectivity.

    The ubiquitous presence of broadband is why SMBLive is partnering closely with global Telecom carriers to distribute software services to SMBs.  The telcos have the existing billing relationship.  They have truly powerful and trusted brands.  And lastly, their legacy businesses (voice and data) are under tremendous pressure -- which means they are highly motivated to partner with innovative companies such as ours.

    Time will tell if our distribution model will work to massive scale?  The early results are indeed encouraging.  But one things is for sure.  We’re betting with the telcos for SMB market access – because we’re fundamentally thinking BIG!!!