Assertion certainty 3/5 debate potential 1/5

Hess: Lack of content is the main reason SMB customers churn

Garen Hess · 1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise · Jul 30, 2019 · at 16:02

Garen Hess, founder and CEO of Consensus, discusses why lower-tier accounts churn from their automated sales demo platform.

0:00 / 0:11exact quote · 11.2s
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“Six months after they bought the software, They don't have content, and I would say that's the number one reason that the small business accounts are churning because they just struggle to get the content in there.”

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More from Garen Hess

Insight
Hess: Transitioning from SMB to enterprise is harder than starting over
“Moving from small business to enterprise focus will be as hard or harder as starting your company over. Starting your company in the first place. And it was actually really good advice and I've appreciated that because even though I knew it was going to be cha…”
Garen Hess Jul 30, 2019 ▶ 13:16 1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise
Disclosure
Hess: Consensus enterprise segment grows 50% amid flat overall revenue growth
“Right now we're seeing pretty flat growth because we've been seeing a change in our focus, so we've been focusing mostly on enterprise, and so we've seen a growth rate of about 50% annually in our enterprise, but overall we've been pretty flat just because we'…”
Garen Hess Jul 30, 2019 ▶ 10:03 1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise
Opinion
Hess: Building custom content for clients was a massive mistake
“The problem is the content phase building out Content turned out to be a massive mistake.”
Garen Hess Jul 30, 2019 ▶ 15:20 1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise
Opinion
Garen Hess recommends Riverside Acceleration Capital over competitors like Lighter Capital
“I would highly recommend them to any entrepreneurs looking around for that out there because I looked at a lot of other firms like lighter capital and others and nothing against the other firms, but these guys have been awesome.”
Garen Hess Jul 30, 2019 ▶ 17:20 1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise
Prediction Not checkable as stated
Hess: Consensus expects enterprise expansion to fully offset churn
“We really expect to be able to make all of that up at some point through expansions because we're starting to have some expansion, you know, very large expansion discussions with some of our enterprise customers.”
Garen Hess Jul 30, 2019 ▶ 19:14 1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise
Assertion Not checkable as stated
Consensus average deal size is about $17,000 per year
“Average deal size is about 17,000 dollars a year.”
Garen Hess Jul 30, 2019 ▶ 6:06 1466 Sales Demo Tool Passes $3m in ARR, Transitions To Enterprise
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