Disclosure certainty 4/5 debate potential 2/5

Cancel: Drift targeted the commoditized CRM market via a paradigm shift

David Cancel · Fireside Chat: David Cancel (Founder & CEO, Drift) with Matt Turck (Partner, FirstMark) · Sep 25, 2020 · at 29:36

David Cancel, founder and CEO of Drift, outlines his red ocean market strategy for positioning Drift.

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“Look, I want to go into the most commoditized market possible, right? Really we're going, trying to go in the CRM market. And so I want to go in that red ocean, but what I want to understand going in is understand that it's a red ocean, understand that we need a fundamentally different paradigm and technical shift, right? So that we can resegment and recategorize this market so that we have an opportunity to win, right?”

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More from David Cancel

Opinion
Cancel: Traditional CRMs reliant on manual human data entry are insane
“Again, like this idea that we have today of a CRM or centralized place for, to keep all this information is a pretty insane system, right? This idea that humans enter things into one big ledger and they have to enter it in a certain format and all those humans…”
David Cancel Sep 25, 2020 ▶ 24:04 Fireside Chat: David Cancel (Founder & CEO, Drift) with Matt Turck (Partner, FirstMark)
Prediction Not checkable as stated
Cancel: Enterprise software will move away from dozens of loosely coupled tools
“I think the reality that we're in, especially in the, in our context where we are in sales and marketing software right in the world of Salesforce and all those kinds of tools is like the re the idea that you need 50 to a hundred tools, which is not an exagger…”
David Cancel Sep 25, 2020 ▶ 21:17 Fireside Chat: David Cancel (Founder & CEO, Drift) with Matt Turck (Partner, FirstMark)
Insight
Cancel: COVID-19 accelerated digital transformation in Drift's market by 10 years
“We believe that we've seen a 10 year acceleration in digital transformation in our market easily.”
David Cancel Sep 25, 2020 ▶ 36:03 Fireside Chat: David Cancel (Founder & CEO, Drift) with Matt Turck (Partner, FirstMark)
Prediction Not checkable as stated
Cancel: B2B shift to online sales channels will permanently persist post-COVID
“I think that behavior change won't go back. And so some of it will go back, but from an efficiency standpoint, it's too efficient and the incentives are set up for companies to continue to go that way.”
David Cancel Sep 25, 2020 ▶ 41:43 Fireside Chat: David Cancel (Founder & CEO, Drift) with Matt Turck (Partner, FirstMark)
Assertion Not checkable as stated
Cancel: Legacy CRM architectures like Salesforce were not built for real-time interactions
“And most systems, again, when we think about all those systems, whether you could put together all the sales forces you want and all the add ons and the 50 to a hundred tools that people put on top of those existing systems today, none of them were built for a…”
David Cancel Sep 25, 2020 ▶ 13:39 Fireside Chat: David Cancel (Founder & CEO, Drift) with Matt Turck (Partner, FirstMark)
Insight
Cancel: A market without competition usually is not a real market
“Most of the time a market that has no competition is not a market.”
David Cancel Sep 25, 2020 ▶ 29:25 Fireside Chat: David Cancel (Founder & CEO, Drift) with Matt Turck (Partner, FirstMark)
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