Zinman: Multi-Vertical Marketing Prevents Ad Inventory Exhaustion
Eran Zinman · Secrets to Scaling and Growth in an Unpredictable Market with monday.com's Co-founder and Co-CEO · Oct 10, 2023 · at 20:21
Eran Zinman, co-founder and co-CEO of monday.com, shares the marketing mechanism that allowed the company to sustain hypergrowth without driving up paid customer acquisition costs.
0:00 / 0:21exact quote · 21.1s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“One thing that helped us reduce the marketing span was, let's say you focus just on one vertical. Let's say project management. At some point you exhaust the inventory. And then the incremental dollar you put is not as efficient as the first one. So, the fact you can go multi-vertical is a hack in a way because you can bid in each industry and be very efficient in that.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Eran Zinman
Zinman: Upmarket SaaS firms become irrelevant by abandoning SMBs
“People don't realize that the SMBs and mid-market of today are the enterprise of tomorrow. So they getting used to use another product, they're getting used to use another platform, and eventually they become the enterprise companies. And then those enterprise…”
Zinman: Scaling past $1B ARR requires going multi-product
“If you want to scale a company past a billion and even to a billion, you have to go multi-product. There's no other way you can do it.”
Zinman: Multi-product integration beats standalone best-of-breed CRM solutions
“And because of that, you don't necessarily have to have the best CRM in the world. It might be second place, but because of that integration and because of that data flows between the different products, you get such huge benefit from that, that it's a huge ad…”
Zinman: Great early salespeople can mask poor product-market fit
“Thinking in retrospect, let's say we had, like, an amazing salesperson in the company. Even though we had, in the beginning, like, a shitty product, that person might be able to sell. And then you get a wrong signal. You get a wrong signal. And because we didn…”
Zinman: monday.com Saw Lowest Ad Bids in History During Tech Downturn
“Because right now, ah, we, not only we kept doing it, but we actually scaled it, ah, and right now we have, like, the lowest bids, ah, that we ever saw, as a company, because everybody pulled back, A lot of companies reduce spend, and we're more aggressive tha…”
Zinman: Standard SaaS metrics like LTV, CAC, and ARR ignore actual cash
“All the metrics that you're using you know, LTV to CAC CAC return rate, all of them don't take cash into account, okay? It's not cash. It's not cash. ARR is not cash. CAC is not cash. LTV, well, I don't know what it is, but yeah. It's a bogus metric, but, ah, …”