June 2023 SaaS Demand Index

Read our interactive PDF report:

We’re excited to update the SaaS Demand Index with data through June 2023.

For our new readers: the Demand Index is derived from high-intent (aka “okta pricing”) Google Search volume data.

Reminder: this is a directional, free, and ever-evolving* analysis → always do your own due diligence.

Moreover, the data captured here is best characterized as top-of-funnel or dark funnel → factoring in sales cycle length, do NOT use this Demand Index as a predictor of near-term financial results and/or financial guidance.

Industry-Wide Data

High-intent search volumes were flat year-over-year.

On a sequential basis versus May, the Demand Index declined 8%.

The weak June results are consistent with the latest a) quota attainment data from RepVue and b) website traffic for Gartner (via Similar Web + Morgan Stanley):

Trends By Product Category

We’ve added a slide showing cumulative growth since January 2021 – Security stands out:

This slide presents growth for the last months and last 3 months, respectively:

All of the category drill-downs – like this Finance + ERP example – are available in the slide PDF:

At the company level, notably strong performers over the past 3 months include: BigTime, Fathom, IronClad, LogicMonitor, MessageBird, Varonis, and Wiz

Curated SaaS Content

Vendr released their “SaaS Trend Report” – report here and my highlights here

SaaStr + Gorgias held an excellent Workshop Wednesday: “10 Learnings on High-Velocity Sales to SMB with Gorgias CEO and VP of Sales” – summary/slides here, video here

Cloud Ratings Content

Given our subscriber base (many CFOs and finance leaders!), I will flag our recent initiation of coverage of the Subscription Management Software Category:

*In an effort to publish closest to month end, we are accessing the underlying API data “early” (relative to the typical SEO and PPC users that do not require such immediacy). Therefore data should be considered “provisional” (i.e. subject to revision by our data provider) and create volatility in the data presented in the 2 most recent months.

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