Phil Turton’s Post

"How good of a CRM could a software company build with a $10m annual budget & with AI? It’s the equivalent bet to funding a startup with a $20-30m Series A & a big design partner. Technology is always commoditizing itself. Perhaps bespoke software will have the same impact in sales as in customer support. That would provide Klarna a sustainable competitive advantage over time. It’s also a forcing function to require the organization to rethink their workflows in the age of AI. More than just changing software, burning the boats & forcing a company to reimagine workflows with a blank slate can be a powerful way to drive innovation." https://lnkd.in/gfQFUahx

Do you know why we call Conscia the 'Brain of the Composable Stack'? Our #DXO can connect to any component of your technology stack and acts as a central point of control to orchestrate data, APIs and even business logic between systems. Most of the time, we talk about Conscia as an orchestration layer that sits between the frontend and the backend, however, as you can see below, Conscia can also connect any two applications within the stack horizontally. This can be done in both synchronous and asynchronous modes and involves events, triggers, listeners, scheduled jobs, webhooks, batch processes and of course real-time API orchestration. Here are some examples of horizontal orchestration flows: ➡ Export a data extract from the ERP and have Conscia transform and load it into your commerce engine. ➡ Listen for an external event such as the record is updated in the Commerce engine, which then needs to be updated in the Search index. ➡ Write customer data directly into an AI model based on a real-time interaction. ➡ Create an order in your OMS based after the customer checks out and completes an order online. Here are some examples of vertical orchestration flows where the DXO acts as a BFF: ➡ Personalization: Call CDP for customer segment, commerce engine for cart information, weather API for real-time weather information and then retrieve relevant content from a headless CMS ➡ Get product information from commerce engine and related product content from a CMS, stitch them together and reshape the data model based on the frontend requirements ➡ Set rules for what content to show in what context to what customer ➡ Call a CDP for customer information and pass it to an AI model to determine the right promotion to show to a customer and then call the promotion engine to fetch the rest of the content for that promotion. In the comments below, you will find links to our documentation that showcase various DXO recipes to give you an idea of the types of complex orchestration flows that Conscia can handle.

#DoYouKnow #SoftwareMonetizationTrends2024 In 2024, software monetization strategies are evolving to meet changing market demands and technological advancements. Key trends include: 1. Hybrid Pricing Models: There's a notable shift towards hybrid pricing that combines subscriptions with usage-based elements. This approach allows for more flexible and value-driven pricing, aligning costs with actual product utilization. According to IDC, the future will see more value-based hybrid pricing models (subscription + usage) and the rise of product as a service. 2. Usage-Based and Value-Based Models: The adoption of usage-based and outcome or value-based monetization models is on the rise. A report by Revenera indicates that 80% of companies now report at least moderate use of usage-based models, up from 72% last year. These models are expected to grow significantly by 2026, reflecting a move towards pricing strategies that directly correlate with customer value and outcomes. 3. Product-as-a-Service (PaaS): There's an increasing trend towards offering connected physical products as services, known as Product-as-a-Service. This model transforms traditional product ownership into subscription-based access, enhancing customer engagement and creating recurring revenue streams. 4. Data Monetization: Leveraging data as a revenue source is becoming more prevalent. Organizations are utilizing AI and advanced analytics to extract value from data, either by improving internal processes or by offering data-driven services to customers. 5. AI Integration and Monetization: The integration of AI into software products is a significant trend, with companies exploring ways to monetize AI-driven features. However, the path to monetizing AI remains complex, requiring substantial investments and a focus on building trust and reliability in AI tools. 6. Diversification of Monetization Models: Companies are diversifying their monetization strategies to include various models such as freemium, advertising-based, and in-app purchases. Emerging trends also include pay-per-task models and tokenization, allowing for more tailored and flexible revenue streams. These trends indicate a dynamic shift in software monetization strategies, emphasizing flexibility, customer value alignment, and the incorporation of advanced technologies like AI to drive revenue growth.

How can #Reactev Price Optimization Software help you? ⏱Complex tasks in seconds with the power of #AI: Automate thousands of calculations, saving your team time and ensuring maximum precision in your results. ⚡️Your prices, a click away: Consult any data related to your prices and products in just a few clicks, from historical to trends, sales, attributes, and photographs. 📊Optimal launch prices: Setting the correct launch price for new products is important so as not to lose sales opportunities. Based on complementary products from the same category or brand, you can estimate the optimal starting price accurate sales projections. 📮Smart notifications: In the event of inconsistencies or irregularities, the price management system will always keep you informed so that you can take control in anticipation of possible errors. Our software has been developed using the highest standards for quality and information security. You can rest easy knowing that your prices are in good hands. #smartpricing #ecommerce #software #dynamicpricing

🚀 The Evolution from Vertical SaaS + Embedded Finance to VSaaS + Embedded [X] enabled by AI a16z's recent article has pointed out the latest trend in B2B SaaS. We’re witnessing an exciting transformation in the SaaS landscape as Vertical SaaS (VSaaS) and Embedded Finance reshape industries. But the next wave is already here: adding AI-powered operational workflow automation to the mix. 🤖 Here’s how this shift is unfolding: Wave 1️⃣ : VSaaS + Embedded Finance (Still going strong)   Vertical SaaS platforms integrated with embedded financial services have streamlined processes and created new revenue opportunities by embedding payments, lending, and insurance directly into industry-specific software. This allows companies to offer seamless, industry-tailored financial solutions to their customers. Wave 2️⃣: VSaaS + Embedded [X] enabled by AI:   The introduction of AI-driven operational workflow automation takes this to the next level. Now, businesses can not only embed financial services but also automate operationgal workflows (think sales, marketing etc.), optimizing operations in real-time. AI-powered tools help companies reduce manual tasks, increase efficiency, and make data-driven decisions faster than ever before. This evolution promises to reshape industries by offering a comprehensive suite of vertical-specific software, embedded financial tools, and AI-powered automation—all in one seamless platform. Meanwhile, this will also permanently reshape human's role in running a business. #VerticalSaaS #EmbeddedFinance #AI #WorkflowAutomation #SaaS #fintech

🥩 The Must-Read of the Year: Even Pete Flint warns, "adopt or be left behind." He explains how AI is poised to unbundle traditional ERP systems—like claims management platforms in the insurance industry—by offering specialized, vertical-specific solutions. AI-driven platforms are evolving beyond generic tools to deliver end-to-end workflows tailored to industry needs, directly addressing inefficiencies in current systems. Flint emphasizes that AI models trained on specific problems by teams with deep industry knowledge can gain significant traction, often more than many anticipate in today’s SaaS landscape. Enter Agentech: The specialized Digital AI Claims Processing software you've been waiting for. Purpose-built and laser-focused, Agentech brings a new era of claims support to the claim handler by delivering an intelligent, tailored solution that elevates efficiency and accuracy within the claims process. NFX #AIRevolution #VerticalSaaS #Insuretech #DigitalTransformation #InsuranceNews #InsuranceIndustry https://lnkd.in/gbj4fKH4

If you're the CMO or CRO at an enterprise software business, you're probably trying to work out how to take genAI to market. That demands some fundamental strategy work to review your market and to revisit the 4 Ps of Product, Price, Placement and Promotion. Of these, Price is often the least talked about. That's a mistake. Why? Because there are aspects of genAI and the current buying environment that might significantly change how you and your customers think about pricing: 1. GenAI has a non-negligible cost of compute. This can affect related cloud bills for you and your customers, which means SaaS margins just got a little less straightforward. 2. GenAI's value is not yet fully understood. Many people know what a CRM system is and does. Few people have such a clear mental model for how genAI products or features could impact their business. Without this shared understanding of perceived need and value, it's hard to reach a shared understanding of appropriate pricing. 3. Budgets are still being heavily scrutinised by finance and procurement. This means that getting pricing right is as important for customer acquisition/expansion as it is for profitability. Discounting on genAI could be dangerous (see point 1), so you need to work out how else you can make your pricing attractive to procurement. This is just a snippet of thinking from our upcoming whitepaper on marketing strategy for genAI, which covers the 4 Ps and more. If you'd like a copy, let me know in the comments. And if you just can't wait and want to read more about pricing right now, I'd recommend the excellent thinking from Ibbaka, and this article from The Information, which covers how some software players are moving to outcome-based pricing models for genAI. #b2bmarketingstrategy #genai #cmo

📢 G2 is now the most consulted information source when buyers choose new software! G2 's "Buyer Behavior Report 2024" is out & its clearer than ever that GTM teams need to adjust to the changes in how software buyers buy. Just like in our personal lives with holidays, hotels, restaurants etc, online reviews & rankings are increasingly influencing buyers and driving software sales. Some other snippets of interest from the report: 1. Pressure on B2B Software Vendors: Buyers are becoming more discerning and unwilling to wait for value. Deal velocity has slowed due to longer buying cycles. Executive leadership scrutinizes software investments. 2. AI’s Impact on Software Buyers: The promise of AI is driving increased software budgets. However, winning and retaining customers is more challenging. 3. Trust in Peers: Buyers heavily rely on peer recommendations. Meeting buyers where they are builds trust. 4. AI Maturity and Behavior: Different groups: AI power-users, learners, laggards, buyers, and non-buyers. AI adoption impacts software spending. For more details, you can refer to the full report here https://lnkd.in/gAgUU-WX

Over half of software buyers anticipate increased spend next year. What’s fueling this 💰? AI. 🤖 According to our G2 2024 Buyer Behavior Report, 56% of respondents said their org had purchased an AI platform within the last 3 months. 📈 And, “improve productivity” was cited as the #1 reason why a company usually replaces software & also as the #1 way a company measures ROI from its AI software investments! 💡 So, while software buyers may be placing extra scrutiny on their purchases today – with longer buying cycles requiring C-suite approval – they’re still willing to spend… for the right tools with AI features & functions that drive fast ROI. More findings from this year’s #G2BuyerBehaviorReport are linked below.

🔑 APIs are the lifeblood of modern software! For API-first companies and developers, APIs aren't just pieces of code—they're products with huge revenue potential. Platforms like API.market are revolutionizing how these digital assets are monetized. Here’s how to turn your API into a revenue powerhouse! 💸 🧭 Identify your API’s unique value proposition. What problem does your API solve? Conduct market research and identify your customer persona. 📝 Craft a compelling API description. Clearly state the problem it solves, list features and benefits, provide use cases, and include a simple getting-started guide. 🔍 Leverage SEO and content marketing. Effective SEO can be a game-changer. Write tutorials, case studies, and create engaging videos to explain your API’s functionalities. 📣 Promote on social media and through email campaigns. Keep followers updated, engage with them, and use targeted ads to reach potential customers. 📊 Utilize beta testing and customer feedback. Regular feedback helps refine your API and ensures it meets customer needs. 💼 Automate invoicing and user management through platforms like API.market, freeing you from administrative tasks. 🔒 Implement secure and scalable infrastructure. Ensure data encryption, use OAuth, conduct regular audits, and leverage cloud solutions for scalability. 💰 Maximize passive income. Offer subscription models and take advantage of seasonal promotions. 🚀 Success Stories: Developers using API.market have seen revenue boosts of over 300% and user retention rates increase by 40%. Transform your API today and watch it turn into a revenue-generating machine! 🌟 #API #Monetization #ProductRevenue #TechInnovation #APIeconomy #finance #enterprise #api #magicapi Read the full article at: https://lnkd.in/eQntqWB5