#118 - David Maxey - Head of Revenue Operations, US at XM Cyber - Execute a Sound Revenue Model
In this episode of Revenue Today, Jared Robin and David Maxey, a GTM leader and the head of rev ops of the Americas at XM cyber, talks about the importance of having a transparent and comprehensive revenue model that connects leads to revenue. David explains how to avoid overhiring, over indexing on the wrong metrics, and wasting money on ineffective marketing programs. He also shares his favorite tools and resources for building and analyzing revenue models, such as SaaSGrid, Segment, and Heap. David shares his wisdom and expertise on how to measure and improve your revenue performance using key metrics and KPIs. He also gives practical advice on how to socialize and align your revenue model with your entire organization, and how to deal with the challenges of change management. You will learn how to create a profitable and scalable SaaS business that delivers value to your customers and stakeholders. Tune in to hear David’s tips and tricks for creating a sound revenue model that works for your company. KEY TAKEAWAYS A sound revenue model connects leads to revenue transparently and comprehensively, addressing diverse stakeholder needs. Understanding market nuances, adjusting conversion rates, sales cycles, and pricing is crucial for go-to-market success. Focus on key KPIs like payback period, lifetime value, customer acquisition costs, retention, and expansion rates for revenue model health. Accurately attribute marketing efforts to revenue, with a clear lead capture process and ROI reporting for budget justification. Utilize tools like SaaSGrid, Segment, Heap, Growblocks, and BurnRate for streamlined data collection, integration, visualization, and optimization. A sound revenue model aligns your teams around generating revenue and value for your customers. Track and improve your average selling price, conversion rates, sales cycle, and ramp time to increase your revenue performance. Socialize and align your revenue model with your organization by presenting, communicating, and building relationships with the people involved. QUOTES “When you over index on one particular metric, you end up looking at a system and thinking you’ve improved it when it’s not.” “When you have a fully transparent plan that has that all laid out to say this event produces these leads in the pipeline. Then when you go to cut it it’s a very easy conversation to say is this small savings here worth putting this amount of revenue at risk?” “Every single person that goes to a conference that’s running a booth is better off scanning 13 badges of people, that, they’ll start the sales process with six of them then scanning 300 badges and getting two out of it.” “If you mistreat your employees in the restaurant business, they will steal from you.” “Spend the extra time with the people, make sure that everyone is as comfortable as they possibly can be as they move forward.” Connect with David Maxey in the link below: LinkedIn: https://www.linkedin.com/in/david-maxey/ Ways to tune in: Amazon Music: https://music.amazon.com/podcasts/40b665df-1a4f-455a-a514-ef599fd1a106 Apple Podcast: https://podcasts.apple.com/us/podcast/revenue-today/id1626063261 Spotify: https://open.spotify.com/show/38z3wZIAcpoAYF5LQ65xON Google Podcast: https://podcasts.google.com/feed/aHR0cHM6Ly93d3cucmV2ZW51ZXRvZGF5LmxpdmUvZmVlZC54bWw YouTube: https://youtu.be/6KEho9RSaHs
