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COVID impact & readiness at WebEngage
A thread.. (1/7)
Once my internal teams identified how this pandemic impacts our business, we put together a few models & dashboards to be better prepared for the risks.
Sharing this because SaaS is
and we are better together
A thread.. (1/7)
Once my internal teams identified how this pandemic impacts our business, we put together a few models & dashboards to be better prepared for the risks.
Sharing this because SaaS is
and we are better together
Some context setting first ..
WebEngage is a mid-market SaaS product.
We have inside sales driven approach to customer acquisition.
$30K ACV with customers in India, MENA, EU, US and SEA.
We are a highly sticky and daily use product.
And yes, customers love us!
(2/7)
WebEngage is a mid-market SaaS product.
We have inside sales driven approach to customer acquisition.
$30K ACV with customers in India, MENA, EU, US and SEA.
We are a highly sticky and daily use product.
And yes, customers love us!
(2/7)
If you are looking for a quick summary, there you go..
3 areas of impact:
Cash collections - forecasting a 15% dip in AMJ.
Revenue churn - 10%. attributed to customers deeply impacted by the pandemic. will recover.
Sales - growth forecasts down to 63% from 105% for FY21.
(3/7)
3 areas of impact:
Cash collections - forecasting a 15% dip in AMJ.
Revenue churn - 10%. attributed to customers deeply impacted by the pandemic. will recover.
Sales - growth forecasts down to 63% from 105% for FY21.
(3/7)
Cash Collections
It's been our lifeline for 8 long years. And hence, we put huge efforts since the beginning. Those are helping now.
Mar collections were 11% lower
New deals are taking longer to move to billing
Customers benefiting from tailwinds moving faster than usual
(4/7)
It's been our lifeline for 8 long years. And hence, we put huge efforts since the beginning. Those are helping now.
Mar collections were 11% lower
New deals are taking longer to move to billing
Customers benefiting from tailwinds moving faster than usual
(4/7)
Revenue Churn
Some of our customers are deeply impacted. We are providing interim relief to them & recording revenue loss for ourselves (see the sheet below)
10.3% $ churn:
Temporary waiver (4%)
Downgrade (2.2%)
Right shifted (2.1%)
Death of business (0.5%)
Others (1.5%)
(5/7)
Some of our customers are deeply impacted. We are providing interim relief to them & recording revenue loss for ourselves (see the sheet below)
10.3% $ churn:
Temporary waiver (4%)
Downgrade (2.2%)
Right shifted (2.1%)
Death of business (0.5%)
Others (1.5%)
(5/7)
Sales Forecasts
We have scaled down our growth goals for the current year and beyond. Assuming slower sales motion and 6 months of revenue loss due to COVID-19, we are forecasting 63% revenue growth for FY21 as compared to pre-COVID goal of 105%.
(6/7)
We have scaled down our growth goals for the current year and beyond. Assuming slower sales motion and 6 months of revenue loss due to COVID-19, we are forecasting 63% revenue growth for FY21 as compared to pre-COVID goal of 105%.
(6/7)
My heart goes out to all businesses and individuals+families impacted by this pandemic.
I couldn't find any B2B/SaaS benchmarks to use for our crisis planning @ WebEngage. Hence I am sharing this in good faith. Hope you find it useful.
Stay strong. This too shall pass.
(7/7)
I couldn't find any B2B/SaaS benchmarks to use for our crisis planning @ WebEngage. Hence I am sharing this in good faith. Hope you find it useful.
Stay strong. This too shall pass.
(7/7)
