So Salesforce is the grandperson of SaaS software

The first to hit $100B in market cap
The first to do $10B+ in ARR (and only so far)

And yet, in many ways we know >less< about Salesforce that we used to

It's not just a CRM anymore

5 Interesting Learnings:

#1. 73% of Salesforce’s customers come from the installed base. Let that sink in.

This is why in the end, Net Revenue Retention is the #1 most important metric in SaaS.

This also means that Salesforce could basically still hit 73% of its plan with 0 new customers.

Put differently, their 2017 customers have, as a cohort, grown 2.1x

#2. Salesforce’s upsell is split about 50/50 between new seats and new products.

In the early days, you’ll probably only have new seats to sell.

But eventually, you’ll probably need a second or third product to sell. We talked about this re: Veeva, Twilio and more here:

#3. The more products you sell, really, the more problems you solve — the more you make.

This is something a bit non-obvious. Salesforce’s customers that buy > 1 product overall, spend a stunning 10x more.