Navigating the Cloud Era: ThoughtSpot’s Blueprint to Revenue Growth

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(upbeat music)

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- Awesome, thank you all.

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And hello and a very warm welcome to everyone joining us today.

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I am Patrick Riley.

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I am our cloud go-to-market principal here at Tackle.

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And today we're gonna dive into the exciting

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and transformative topic of navigating the cloud era.

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Thoughts, bots blueprint on revenue growth here.

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So I wanna give you a little preface

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on where we think we are in the market today

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for those of you that don't have a big background

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and then we'll dive right in.

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So today, you know, this is a very dynamic world

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where capital efficiencies and growth mandates

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are paramount.

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Cloud marketplaces and SaaS industries as a whole

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are definitely realizing the paradigm shift.

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We're starting to see more and more data suggesting

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that the global SaaS market's gonna exceed 600 billion.

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Next year that growth is gonna be more 18% from last year.

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And this is just a testament to the evolving landscape

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of cloud-based solutions,

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their growing impact on businesses worldwide.

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And as we step into this new era

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where product led, ecosystem led

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and cloud led experiences kind of reigns supreme,

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it's critical for us to understand

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that these shifting tides of revenue generation

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and SaaS companies, where their impacts are,

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what good looks like and learn from customers

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and an ISVs like ThoughtSpot,

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who are basically trailblazing

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in leveraging their cloud go-to-market strategy

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for a remarkable growth journey.

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So whether you're here live

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or you're listening later to this recording,

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we're thrilled to share this journey with you.

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So let's go ahead and unlock some new horizons together

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and we'll go ahead and get started.

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So today I'm joined and we're very lucky to be joined

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by a rare persona that we usually don't get to talk to.

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We're talking to a partner operations leader today,

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Barbara Trevino of ThoughtSpot.

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She has spent over six years in partnerships,

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was a super node speaker

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and just does a ton of work within not only ThoughtSpot,

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but on the side, she's a fun fact and author

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and a publisher of children's books.

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So I don't know where you find the time to do that, Barbara,

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but hats off to you.

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It's absolutely amazing.

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And thank you for being here.

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- No, thank you so much for having me.

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- So I tried to set you up a little bit,

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but can you tell us a little bit more about your role

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and journey on how you got here?

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- Sure, actually, I'm based in San Antonio, Texas.

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I have been with partnerships

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and supporting partnership organizations

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for the last six years.

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I've been in tech for eight.

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I did start my journey in sales

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and I'm X-Rax based, X-Sizemic,

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and now I'm at ThoughtSpot.

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So I lead partner operations.

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And so for that, that means I pretty much help

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integrate partnerships into the broader organization

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through tool systems, process, and data.

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And a lot of that, believe it or not,

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some of that also involve supporting

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a new go-to-market approach,

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which in my last company at Sizemic

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and even now at ThoughtSpot is very, very relevant,

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which is cloud marketplaces since both

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are ISVs that have listings in marketplace.

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So I help support the strategy behind that

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since there's a lot of ties to Google and AWS

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and all of the cloud alliances and cloud providers.

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And so naturally supporting a whole new route to market

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is very critical and important for our business.

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- Yeah, and you brought something up there

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that's kind of key and that was the data piece.

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So I know from a business perspective,

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ThoughtSpot's made significant strides in BI

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and analytics around data.

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Can you share a little bit about what ThoughtSpot does

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for those listening and the unique value

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that ThoughtSpot brings?

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- Yeah, sure.

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ThoughtSpot has actually carved quite a unique niche

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in the BI and analytics space

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by focusing on market data analysis

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and making it both accessible and powerful for everyone.

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So really our core offering revolves around

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bringing the power of search and AI driven analytics

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to enterprise data, which effectively enables users

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to get the insights quickly and intuitively.

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So for us, selling via the marketplace

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has been a strategic decision that benefits us

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and our customers greatly.

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So not only does it allow us to reach a broader audience

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and streamline our sales processes

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and align closely with our cloud ecosystems

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where our customers are increasingly operating,

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but it also helps us scale our operations efficiently,

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which ultimately helps us ensure that we stay aligned

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with the evolving market trends and customer needs.

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So I guess you can say in essence,

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ThoughtSpot's value proposition lies

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with simplifying complex data analysis,

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pretty much making it easy as a web search

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and our marketplace strategy amplifies our ability

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to deliver this value to a wider, more diverse audience.

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>> Thank you for that.

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You highlighted some transformational efforts

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that ThoughtSpot has made and that you all are making

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to make this kind of a broader strategy,

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making sure the whole company is implementing it

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and it's really tied to your value prop.

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In a world where the capital is constrained,

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2022 is difficult in that regard,

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where 2023 rolled in and we had a lot of companies struggle,

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where businesses are now being mandated

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to be efficient in their growth,

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what did ThoughtSpot do differently to drive growth

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with the pressures of today?

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>> Yeah, that's a great question, Patrick.

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And I think in response to today's economic pressures,

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ThoughtSpot has strategically streamlined

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our tech stack and operational processes.

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So we really focused on eliminating redundancies

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and maximizing our resources.

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And a key to this to maximize existing resources

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is to leverage large cloud commitments

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for consolidating billing and ultimately

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just enhancing our operational efficiency

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as a broader organization.

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And so this approach isn't really just about cost savings,

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it's pretty much just shifting towards

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refining our cloud marketplace strategy.

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So essentially this enables us to drive

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more sustainable growth in a capital constrained environment.

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And I see a lot of companies now adopting this approach as well.

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So when budgets are tight,

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it's not just important to sell through marketplace,

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but also to buy from cloud marketplaces as well.

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>> Yeah, we're hearing that trend a lot.

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And then a lot of the conferences over the last few weeks,

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these themes have kept coming out

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where we're not only trying to,

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as ISVs and sellers trying to tap into end user budgets,

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but we're now having to look at how do we optimize our tech stack?

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How do we optimize the capital expenditures we have today

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when we only have so many people?

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How do we shift that and make the most of it?

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And you're right, I think we're starting to see

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a lot more companies adopt that strategy,

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which is just adding to that growth.

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And so we're compounding on this year over year growth

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in the market and you just highlighted why right there,

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but we all need to do more with less.

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And going and shifting to a cloud tech stack,

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having a cloud commitment,

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these type of activities are leading to more and more discounts

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and saving us in the long run.

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So totally hear what you're saying there

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and we're hearing that a lot from our customers.

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So as these strategies have become more pivotal

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for SaaS companies just broadly,

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can you shed some light on thought spots,

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go to market approach holistically,

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kind of as it aligns with your company's broader initiatives?

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>> Yeah, for sure.

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And believe it or not,

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thought spot in the last few years just recently shift

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from being infrastructure focused

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to deploying our SaaS on hardware,

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which seems bizarre now in a world

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where everything is cloud based,

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but we definitely shifted from a more infrastructure focus

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to a more SaaS-centric model,

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which now epitomizes our cloud go to market strategy.

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So this transition isn't just about changing our service model,

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but a part of that also means enhancing our customer

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enablement on understanding SaaS platforms.

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And so a part of that,

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a key aspect to this evolution was being able

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to adopt a multi-cloud provider approach.

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So for us, we believe it's the best in breed

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and meeting customers where they are based on their needs

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and their modern data stack.

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And so in turn for us,

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our approach significantly bolstered

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by growing our partnerships with major players like Google

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and AWS, especially Google in the last year.

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So our journey involved maturing in the marketplace,

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strategically collaborating with these cloud providers

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boutique system integrators

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and having a very diverse ecosystem with partners

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like Infosys and TCS, Interworks, Blue Cloud and Visitori.

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So for us, it's a comprehensive strategy

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that aligns to our broader objectives.

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So we focus on working with and through partners

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and we are able to expand our reach in

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and ultimately reinforce our position

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as a leading BI SaaS provider in the cloud marketplace now.

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>> Yeah, and you talked about multi-cloud,

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that makes a ton of sense.

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We see a lot of folks do that now.

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And as it, you know, as it relates to system integrators,

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working with partners,

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obviously something everybody wants to do.

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But, you know, I've talked a lot about setting up

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what we see and what we think and what we see

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from the industry, but can you tell us from your perspective,

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'cause nobody wants to hear me talk for an hour,

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but can you tell us from your perspective,

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when you look at cloud go to market evolving in SaaS

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over recent years, what do you see as your trends,

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both within your organization

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and then in the market as a whole, you know,

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as you've gone through various companies as well,

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what's kind of top of mind for you when you look at that?

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>> Yeah, great question.

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I think in the most recent years, I've seen a pattern

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or really just an evolution in the go-to-market strategies

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within a lot of SaaS and ISVs.

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So both at ThoughtSpot and across the market

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and even at SaaSmic where I was previously,

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I've seen a significant shift towards,

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and you mentioned this earlier,

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or partner led and specifically productize partner integration.

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So, you know, while traditional go-to-market partnerships

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still are a really strong source of revenue for us

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as a business,

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I've seen kind of a trend, a growing trend

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that ultimately helps integrate tech partners

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into a wider partner program framework.

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So for these integrations,

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it's not just about enhancing product stickiness,

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but it's about creating a full-blown ecosystem

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that fosters an app marketplace.

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So this is a little bit different,

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but ultimately what I've seen

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is a more combined partnership model,

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aligning them with dual marketplace motion.

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So that's really the beauty and the change that I've seen

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and the dynamic nature of the SaaS industry.

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So now we're seeing app market places

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working alongside cloud market places.

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- I think that's a good call out,

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'cause we don't always think of those two together.

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And when we're looking at how do they work together,

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but the whole theme of this is kind of partnerships, right?

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And so how do we leverage that,

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not only within the people to people,

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the multi-cloud marketplaces,

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but with the actual type of marketplaces themselves?

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So thank you, that's a great call out.

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All right, so let's get to the fun part.

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Like what stories can you share to us

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around pivoting toward these motions?

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Maybe some lessons you've learned along the way.

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What are some tidbits that we can leverage

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as takeaways for everybody listening?

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- Yeah, I would say our journey towards embracing

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a full-blown marketplace strategy

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has been very insightful,

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also a lot of learnings along the way.

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But I would say one of the key takeaways

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has been really just the focus of,

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and the importance of focusing on one marketplace at a time.

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And I say that because marketplace

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and the marketplace landscape is pretty complex

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and it's constantly evolving.

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And so I've observed pretty significant changes

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over the last four years,

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especially because each cloud provider

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offers a really distinct environment,

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which ultimately for us means it requires a tailored approach.

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And so for thoughts,

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but it's crucial to understand

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that successfully navigating the marketplace

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goes far beyond just setting up a listing

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in each respective cloud provider's marketplace.

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It's really just about ensuring

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that your organization is ready.

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And fully prepared on multiple fronts.

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So from a cloud environment architecture

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to Salesforce implementation,

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to sales motions, rules of engagement,

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enablement strategies,

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pretty much all of even revenue recognition practices.

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So pretty much having a more holistic approach

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and doing it with one marketplace at a time.

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And so this has really taught us to really think

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of every component of the organization

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to align to this whole marketplace strategy.

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So it does sound like it's a very big comprehensive effort,

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but ultimately it will pay off in terms of reach

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and scalability once you have the full company

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and organization on board.

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- Yeah, I echo that sentiment.

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And before tackle,

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I went through some of those same challenges.

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And it really was a very comprehensive effort across

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the BU's within our business

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to make sure that we were all aligned on that strategy,

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the operational transformation was not small,

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but it did pay off in the end.

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So thank you.

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We are getting some good questions in the chat.

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So we'll address them here at the end,

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but I have a couple more questions for Barbara

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that I wanna get through.

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And I think they'll answer a couple questions.

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So without further ado, Barbara,

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what like we talked about kind of the journey

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and a little bit of your story,

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but from a challenge perspective,

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what are some of the biggest challenges

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on bringing multiple routes to market together?

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This is not something easy for a lot of large organizations

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and even smaller ones that are looking

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at identifying different routes to market.

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Can you give us some insight there?

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- Yeah, I would say that one of the biggest challenges

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is unifying various routes to market

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and managing ultimately different deal structures.

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So for example, our sales reps

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are really adept in handling direct,

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highly customized deals,

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'cause I'm sure most organizations are used to

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and accustomed to,

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but these sometimes these deals don't always align

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to like a marketplace model,

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given each con provider's unique characteristics.

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So, and also a part of that is there's also a misconception

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that marketplace transactions can be handled the same way

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and manage the same way as we do within health deals.

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But I think also sales thinks of it

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as merely a billing vehicle, but that's not really the case.

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So for us to navigate these differences, go to market,

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go to market enablement is very crucial.

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And so for us, it's about educating and equipping our teams

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with the right tools and knowledge

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to handle marketplace conversations

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and the dynamics a little bit differently.

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So for us, this revolved around

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and rethinking sales strategies,

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adapting to different transaction models

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from a billing perspective

16:45

and understanding the nuances of each route to market.

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So for us, bridging these gaps was really critical

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and ultimately led us to some success

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and a lot more to come and really leverage the full potential

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of having multiple and diverse market channels.

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- I think you just pulled out another

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one hour webinar that we could talk through at some point

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as those challenges in bringing those markets together.

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So we'll note that Michael for another time,

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but super insightful there.

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Thank you.

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I totally hear what you're saying.

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And I think that if the audience listening could take away

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with some of the best unrealized opportunities

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in this new era, where would you think

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that they should capitalize on that?

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Just generally, what do you say

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are some of those greatest unrealized opportunities?

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- Great question.

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I actually have a pretty good idea

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that I'm hoping to implement.

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So I think in this new era of marketplace,

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one of the greatest unrealized opportunities

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pretty much just lies with having comprehensive

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and having a dynamic use of data

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to ultimately drive business strategy

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and operational efficiency.

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So thoughts, but ironically emerges

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as a really great pivotal tool in this context.

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So it's not just about having access to data,

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but being able to integrate it

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and analyze it from very different sources.

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So you can see patterns and trends

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and ultimately you can change your strategy along the way.

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So in the realm of, I guess, partner management

18:28

and marketplace operations,

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most businesses have to grapple with fragmented data

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across platforms that you see from your CRM

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or AWS's Disbursement Tracking Tool

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or DCP's tracking tools

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and even tackles disbursement tracking

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for marketplace management.

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So having a platform and maybe I'm lucky

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that I work for thoughts,

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but thoughts about really can help empower the business

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to centralize all of this data

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so that we can have a unified marketplace

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business and we can do that through our live boards

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pretty much just what we call our dashboards,

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but we can have all of it centralized.

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So it's not just about tracking our metrics.

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We get to drink our own champagne and ultimately for us,

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it's really limitless, not just for marketplace insights

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for any businesses domains where there's multiple platforms

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and you can ultimately just have that centralized

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and you can evolve your strategy that way.

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>> Yeah, you're not kidding when we talk about a lot of data.

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We've got our buyer intent data,

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you've got marketing and SDR functions are leveraging

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all the, I won't call out all their names,

19:45

but the tools that are informing those decisions,

19:48

sales has those, some of them built into the CRMs,

19:51

we've got our tackle prospect tools

19:53

and those are just on the front end.

19:54

So all the other data, the offer data,

19:57

the marketplace, the back end,

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disbursement tracking, that's a lot to manage.

20:01

So I'm glad you all have a good solution for that.

20:04

Now, how do you envision go-to-market motions

20:08

will continue evolving in the next few years?

20:11

Based on what you've seen in your expertise,

20:14

where do you see this evolving over the next three

20:17

or five years?

20:18

>> Yeah, I think it's no surprise.

20:21

I think, and I've seen a lot of go-to-market motions

20:25

in the SaaS industry lately adopting a partner first

20:28

or partner-led approach.

20:30

You mentioned this in the beginning,

20:31

CrossFIM had a full ecosystem webinar at 1.2,

20:37

but pretty much I think what we're starting to see

20:39

is that the traditional model of direct selling

20:42

is gradually becoming a practice of the past.

20:44

And I think that this shift really just reflects

20:49

growing emphasis on leveraging the strengths of partnerships

20:53

so that you can reach new markets and customers.

20:55

And I think in the coming years,

20:58

we'll probably anticipate seeing a little bit more

21:01

of a deeper integrations with partners,

21:04

just overall and go-to-market strategies

21:06

where it's not so much black and wide

21:09

or the red-headed stepchild,

21:11

as most people think partnerships are,

21:13

but pretty much just a more inclusive collaborative effort

21:17

to drive growth and innovation for the business.

21:19

So I think this is not a trend,

21:23

but I definitely think this is gonna be a significant change

21:26

in how ultimately SaaS companies approach the market.

21:30

- Awesome, thank you.

21:32

And I know that we do still have questions in the chat,

21:35

but I have two more questions for you.

21:37

So hopefully everybody that's sending us direct messages,

21:40

I will get back to you.

21:41

And Michael, if you put them in the regular webinar chat,

21:44

Michael will take them down.

21:47

But I wanted to talk on a personal note.

21:49

I want everybody to get to know Barbara a little better.

21:53

What's been the most rewarding part of leading channel ops

21:56

at ThoughtSpot for you?

21:58

- Yeah, I mean, for me,

22:00

it's been incredibly rewarding to work with leaders

22:04

who really trust my expertise

22:06

in the strategic direction that I bring to the table.

22:09

So for big strategies like marketplace,

22:13

it's really great that this trust not only empowers me

22:17

to execute my role,

22:19

but it also makes sure that I have a meaningful seat

22:23

at the decision-making table.

22:24

So pretty much this helps me grow also

22:28

from a business perspective

22:29

and knowing that I have a big impact to the business

22:33

when leaders are looking to me to be able to apply

22:36

my knowledge while still learning and expanding it.

22:39

So for me, it's just been great to have and be in an environment

22:43

where there's me to respect and trust.

22:46

And ultimately that's what makes my role at ThoughtSpot

22:49

really gratifying, knowing that I'm making a larger impact.

22:52

And of course, bringing more revenue to the table.

22:56

- That's right.

22:57

You're the new favorite role, right?

22:59

Channels and alliances.

23:00

Those are the two standout.

23:01

If I had to pick two roles for 2023,

23:04

those are the ones where we see the most value

23:07

moving into 2024.

23:09

But okay, last question,

23:10

and then we'll get to some of the Q and A.

23:14

So if anybody's tuned in or they're watching this recording

23:17

and they haven't experimented with this yet,

23:20

they're just getting started.

23:21

They're looking for direction.

23:23

With your experience, what would you recommend as far as,

23:26

like here's where we think you should start.

23:27

- Great question.

23:30

And I wish someone,

23:31

I had a response from someone when I first started this journey

23:35

way back when,

23:36

but my first recommendation is really just to connect

23:39

with companies that have proven value through marketplace

23:42

and have successfully launched multiple cloud marketplace

23:46

and really just understand to gain insight

23:49

of establishing a new route to market.

23:51

So like, for example,

23:53

my first first time doing this years ago,

23:56

we did it in house versus partnering with providers

24:00

like Tackalio.

24:01

So it's important to understand what goes into launching

24:06

a whole new go to market effort

24:09

and making sure that your internal teams and resources

24:13

are there to support this model too after launch.

24:17

It's great to have a presence,

24:19

but if you're not getting revenue back into the business,

24:22

then ultimately you have to make sure

24:25

that your entire strategy is aligned to it.

24:28

And so I would say the key is not to rush into it.

24:32

And I've learned from past experiences,

24:34

don't just have a marketplace presence

24:36

and rush into having it because there's a deal on the line.

24:40

I would say approach it more methodically,

24:43

get the right buy in,

24:44

be prepared to iterate, adapt,

24:47

and ultimately if you focus on that first

24:50

and do your due diligence,

24:51

you'll have a really strong foundation for success.

24:54

- Awesome, thank you Barbara.

24:57

Super insightful.

24:59

I'm gonna move us over to the questions

25:00

'cause we've got two minutes left.

25:02

So if it's okay with you,

25:03

I'll read out the first question from Raja.

25:06

He asked, "You mentioned eliminating redundancies.

25:09

"Did you implement any automation techniques for this

25:12

"or did you use bots?

25:13

"How did that work?"

25:15

- Great question.

25:17

We do use automation and in our practice

25:20

and something I've learned over time,

25:22

it's really critical to make sure

25:25

that your go-to-market teams,

25:27

especially your sales reps,

25:29

are enabled in marketplace,

25:31

but also being able to track that information

25:34

in your CRM for us, that Salesforce.

25:36

So we have dedicated fields that a rep can ask their customer

25:42

if they are going to transact in marketplace,

25:44

if so, which one,

25:46

and if so, who their cloud contact is,

25:50

that will be able to accept the private offer

25:52

and their account ID,

25:54

and all of those fields get funneled and automated

25:57

through our order forms

25:59

and ultimately streamlines the operation

26:01

of actually creating the private offer,

26:03

which in my past roles, we didn't have that.

26:05

A lot of that data wasn't centralized,

26:07

it was on Slack and email

26:09

and it's really good to have all of that information

26:12

in the system and automate it,

26:13

so that way it's really easy for a sales rep

26:17

to have it alongside their deal desk

26:19

or deal operations process.

26:21

- Great answer, I'm gonna bring Barbara

26:23

onto the next customer call I have.

26:26

(laughs)

26:27

Just answer this for me.

26:28

And we have another question from Tom.

26:32

"What part of the organization do you think

26:33

should own the marketplace channel?

26:35

Is it sales or is it somewhere else?"

26:38

I'm gonna say everyone should own it.

26:40

It should be owned and be owned from the top down,

26:43

from the C-suite that has buy-in

26:46

that really understands what a great impact marketplace

26:51

has for the entire business.

26:53

And some of my past experiences,

26:55

it's only been looked at from a partner lens

26:58

and that's obviously a given

27:01

with the alignment to cloud providers,

27:03

but everyone should own it,

27:04

sales should own it by understanding

27:06

that it's a different go-to-market approach

27:09

so that they can feel confident,

27:11

talk about it with their customers

27:12

alongside talking about and selling the product.

27:15

Also for a deal desk to be able to work

27:19

with sales reps to understand really

27:22

the more technical parts of configuring the deal.

27:26

And not a lot of companies have a partner operations

27:29

resource like me, but someone to help

27:32

really be in the center of all of the framework

27:35

and help lead to strategy so that way we can involve people

27:40

like our partner managers that are aligned to Google and AWS

27:43

and all the other cloud providers

27:45

to help proactively work with our sales reps

27:49

to align to the Google or AWS or even Microsoft field reps.

27:53

So it's a very big collaborative effort.

27:56

I wouldn't say that it aligns to just one org or one team.

28:00

So the more the merrier.

28:02

So if you're an alliances lead on this call,

28:05

the key to that statement was you need to get a Barbara

28:08

to partner with internally to help you

28:10

so that you can focus on strategy relationships

28:14

and she can focus on the strategy and process.

28:17

But thank you that we've run up on time.

28:21

Michael, I'm gonna turn it over to you, but Barbara,

28:23

I just wanna say thank you.

28:24

This was fun and I hope we get to do it again.

28:26

- Awesome, thanks y'all.

28:29

Words of wisdom right there all throughout

28:30

the this past half hour.

28:33

Y'all may be wondering what's next now

28:34

that the session is over.

28:35

Don't worry, we'll have this recording in your inbox

28:38

in the next 24 hours.

28:39

I also put two links in the chat.

28:41

One if you'd like to learn more about ThoughtSpot,

28:43

another one if you'd like to learn more about Tackle.

28:45

But yeah, once again, huge thank you to Barbara

28:47

and Patrick for leading the session today.

28:50

And of course, thanks to all of you for tuning in today.

28:53

We're grateful that you chose to spend

28:55

part of your day with us.

28:55

So stay tuned for more Tackle webinars in the new year.

28:58

This is our last one of the year, two weeks until 2024.

29:02

Hard to believe that, but I hope you all

29:03

have a wonderful holiday and we'll see you next time.

29:06

(upbeat music)

29:09

(upbeat music)

29:11

(upbeat music)