In 2019, spending on IT services is expected to amount to 1,016 billion U.S. dollars worldwide

The IT services market encompasses the range of services that assist individuals and enterprises in implementing, managing, and operating the wide variety of processes, systems, software, equipment, and peripherals that are used in the modern IT environment. Globally, the broader information technology market reached 3.65 trillion U.S. dollars in 2018, with IT services spending representing more than a quarter of the total market. In terms of IT market growth, services are advancing steadily, second only to enterprise software spending. Year on year, IT services spending is expected to increase at a rate of around 5.5 percent.

SaaS & Tech Growth Strategy Articles

• How To Assess Your Brand, Website, Marketing & Competitors
  There are two things required to reach a destination - first to know where you want to go, but second to also know where you stand today.
• Brand Strategy Framework
  A Framework for Creating A Smart Brand StrategyA brand is so much more than a logo.It's what makes you unique and how you communicate that to prospects, customers, and employees to inspire them to take action.We've developed a Brand Strategy Framework to drive marketing, sales, recruiting, and raising capital.A smart Brand Strategy is central to […]
• How to Determine a SaaS Marketing Budget
  Determining a marketing budget for a SaaS or Software company can be a challenging exercise.  Often there is no one right answer for everyone but there are ways to help you attack the problem.Below, read our expanded article and watch our video with Andy Halko as he shares some helpful tips on how to create […]
• The Importance of a Business Plan
  Before you can begin putting together an effective marketing plan, it’s important to make sure you have a business plan in place. Today Andy talks about understanding the long term and short term goals and objectives of your business, before you start planning your marketing. One of the things I wanted to talk about today […]
• An Applied Innovation Model
  Innovation and creativity are becoming increasingly valuable as the need for unique solutions to business problems becomes more salient. Cognitive psychologist Scott Barry Kaufman argues that the creative process can be viewed in four stages: 1. Preparation – identify the problem and perform research 2. Incubation – passive, unconscious period where innovation “percolates” 3. Illumination […]
• Blue Ocean Strategy
  Today, Andy shares with us what a "Blue Ocean" strategy is and how to implement it in your business and marketing strategies. Blue Ocean StrategyA Red Ocean is an ocean where there's a lot of competition, a lot of people fighting and a lot of blood in the water, which makes it really hard to sell […]
• Tools For Bridging The Culture Gap
  How can you bridge the culture gap? Andy shares a few examples of tools you can use to help make sure your team is aligned to your vision and working towards the same goal.
• The Basics of Analyzing Your Audience
  As audience analysis month draws to a close, Rick goes over the basics to make sure we understand the goals and importance of taking time to analyze your audience. It’s audience analysis month here at Insivia, so lets go over some of the basics and make sure you understand the importance of analyzing your audience. […]
• Successful B2B SaaS Product Launch
  Successful B2B SaaS Product LaunchWhen you've finally finished development and created a SaaS product you are proud of, the next phase is to release your product to prospective customers.This is hardly as easy as opening the doors to the storefront and welcoming customers.In the SaaS industry, you must find a way to digitally bring people […]

Tech Services Stats

• It’s 4x cheaper to upsell existing customers than acquire new customers: costing just $0.28 to acquire an additional dollar of revenue
• In 2017, the world invested around 3.4 billion U.S. dollars in small hydropower technologies, down from 3.9 billion U.S. dollars in 2016.
• All types of investment have grown, year-on-year, with the biggest growth during the seed stage of financing
• The average company gets 16% of new ACV sales from up-sells and expansions, though companies with revenue between $10MM-$40MM are relying more heavily on up-sell and expansions
• 83% of China’s digital shoppers made an online purchase in the past month
• The average Quick Ratio of fastest growing SaaS companies (those with a CAGR of over 50%) is 3.9: generating $3.9 in revenue for every $1 lost to revenue churn
• To establish a revenue or lead-commitment based on your funnel metrics and revenue-growth goals, work backward from the gross revenue amount that marketing is responsible for generating (generally around 40%)
• Sony’s PlayStation brand had accumulated approximately 38.57 million fans on the social network
• General Dynamics is a market leader in the aerospace and defense industry. In 2018, a total of 105,600 people were working at General Dynamics.

SaaS & Tech Growth Strategy Stats

• In 2018, the revenue of General Dynamics amounted to nearly 36.2 billion U.S. dollars.
• The venture-backed companies that were acquired most often had a 7 percent share of female execs, as opposed to 3 percent at unsuccessful (unacquired) firms
• Since churn is so important, wouldn’t it be useful if we could predict in advance which customers were most likely to churn?
• If the numerator of your quick ratio is growing that means your revenue is growing. It’s important to keep increasing revenue to counter any MRR (Monthly Recurring Revenue) that is lost to churn
• How to Reduce Churn
• Investment in marketing automation tools is expected to reach $25 billion by the year 2023
• The average company booking professional services revenue on new deals is equivalent to 16% of the first year subscription value. Professional services margins are approximately 22%
• Non-renewal rates are higher than gross dollar churn rates and higher for shorter duration contracts
• Internet sales strategies are the only sales method to see a decline in CAC, dropping from $0.54 to $0.42 between 2014 and 2015