Dear SaaStr: Once you find product market fit in SaaS, what should your next steps be to take the market?
Hire a VP of Demand Gen / Marketing.
I say this not because it’s the only step, but it’s likely the most important step you can take to grow faster after product-market fit that basically always work — that you probably haven’t already done.
I hired mine at $20k in MRR, and it wasn’t too early. More on the math and why here: I Hired My VP of Marketing at $20k MRR. It Wasn’t a Week Too Early. | SaaStr
For most of you though you’ll get all the way to $1m-$2m in ARR or more and never have even started to hire a true VP of Demand Gen / Marketing. Sometimes even later these days. You’ll figure out how to hire some sales reps, made even a sales lead, a customer success professional. But too often, there is no senior marketer by $1m, $2m, sometimes even $4m-$5m in ARR.
All they have to do is get you a few more leads, and/or increase the % of leads that close, to more than pay for herself.
Hire a great VP of Marketing. They get you another $500k in deals at $2m in ARR. She pays for herself right there. But even more importantly, that growth just compounds.
A great VP of Marketing that really, truly gets you new leads, new pipeline, new customers is always ROI positive. And you can make that hire even earlier than a VP of Sales.
So go make the hire.
And make sure you hire a VP of Marketing that knows how to get you leads, not infographics and blue pens. That’s job #1 at this stage. More on that here: Hire the Right Type of VP Marketing — Or You’ll Just End Up With a Bunch of Blue Pens with Your Logo On Them | SaaStr and here: What are the differences between a VP of Marketing and a VP of Demand Gen? | SaaStr