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Over the past five years, the Global Biotechnology industry has grown by 2.0% to reach revenue of $301bn in 2019. In the same timeframe, the number of businesses has grown by 3.9% and the number of employees has grown by 0.7%.
Customer Acquisition Cost (CAC) = sum of all sales & marketing expenses/ number of new customers added
The median cost for a SaaS company to acquire a dollar of new customer revenue is $1.18
SAAS companies invest between 80% and 120% of their revenue in sales and marketing in the first 5 years of their existence
The median Customer Acquisition Cost (CAC) for upsells is just $0.28 per $1, less than a quarter of the $1.18 spent to acquire $1 of revenue from a new customer
The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.
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%)
Internet sales-driven companies have a much greater reliance on marketing, with 65% of the median company’s CAC budget devoted to marketing
The average SaaS business generates 16% of its new Annual Contract Value (ACV) from upselling to existing customers
54% treat upselling and add-on sales as high priority
Investment in marketing automation tools is expected to reach $25 billion by the year 2023