Specialist
Former Head at Bryter GmbH
Agenda
- Bryter's customer value proposition and key points of differentiation
- Competitive landscape across no-code service automation players
- Go-to-market strategy and sales cycle
- Ability to expand within existing customers
- Potential risks facing Bryter
Questions
1.
Could you give an overview of what Bryter is and does?
2.
How would you segment Bryter’s revenue across industries, teams and use cases?
3.
Why is Bryter so focused on law firms and compliance teams or in-house lawyers?
4.
What is Bryter’s value proposition? What problems does it solve for lawyers or law firms?
5.
How difficult is it to sell a tool such as Bryter if it doesn’t solve an obvious pain point that law firms or lawyers face?
6.
Are the biggest barriers to selling the product cultural? Is the unwillingness to change the biggest sticking point?
7.
What are Bryter’s use cases?
8.
What does Bryter focus on when it is trying to sell to a customer? What is the pitch?
9.
How long do typical sales cycles last?
10.
What is Bryter’s typical go-to-market strategy or sales motion?
11.
Would you describe Bryter’s opportunities as mostly greenfield? Is the company offering something new to lawyers to replace what they’ve always done rather than substituting incumbent software?
12.
What proportion of clients would be greenfield opportunities vs ones who are replacing a previous platform?
13.
To what extent could Bryter’s future growth be inhibited if a portion of the market has had bad experiences with alternatives such as Neota Logic, causing them to be averse to these types of tools generally?
14.
Which players would a potential customer compare Bryter against? We’ve mentioned Neota Logic.
15.
What differentiates Bryter in your mind?
16.
What types of customers prefer platforms vs point solutions? Is a platform approach preferred among the enterprise customers Bryter focuses on?
17.
You mentioned that Bryter is not a modular offering – if you buy Bryter, you buy the whole suite. How often do customers then use the entire suite? How often do they buy Bryter as a whole to only use 1-2 of the suite’s potential use cases?
18.
How concerning is it that Bryter isn’t modular and a lot of clients aren’t using the full suite?
19.
Why do customers purchase Bryter if they know it’s a large and pricey platform that they’re unlikely to use all of? Does it take time for clients to realise they aren’t using the full platform, beyond the initial deal?
20.
Does anything else differentiate Bryter beyond the broadness of its platform relative to the point vendors? Is it easier to implement and use than other products?
21.
Could you elaborate on the decision-maker that Bryter targets in an organisation when selling its product? It sounds as though the purchaser tends not to be a user of the product.
22.
How long is the trial or proof of concept period for Bryter? You mentioned lengthy sales cycles of 6-12-plus months. Would Bryter get a proper department or a good number of users to use the product? How do those trials usually pan out?
23.
Is the workshop stage when actual users of the product get involved in the process? Is this still decision makers who may not be users?
24.
Could you estimate Bryter’s win rates once it reaches the workshop or proof of concept stages?
25.
What metrics do firms use to assess Bryter’s ROI, whether in the proof of concept stage or once they’re customers?
26.
Could you outline contract lengths once Bryter wins a customer?
27.
Is the initial deal usually for one department or team rather than enterprise-wide?
28.
How does Bryter’s pricing structure work? What is the price per user or process?
29.
How much of a problem do you consider Bryter’s ad-hoc pricing to be?
30.
Would you say that the legal tech market as a whole struggles with pricing, or is this specific to Bryter? Have competitors such as Josef Legal managed to get pricing right?
31.
What do you think needs to change about Bryter’s pricing?
32.
Could you estimate Bryter’s net revenue retention?
33.
It seems that most clients maintain what they have with Bryter for the first year – you said you’re aware of two clients who expanded usage. What do you think drives this waiting and seeing among customers? Do they often use the first year as a testing period to ascertain ROI before committing to anything else? Are there other reasons why customers don’t spend more?
34.
What are Bryter’s barriers to growing within a customer? Does customer dissatisfaction with the ROI or initial implementation limit future growth? Is it more that the product’s users are professionals whose first job is being a lawyer, which makes getting the buy-in difficult?
35.
Could Bryter do more to push the cross-sell to potential or existing customers? It sounds as if the company has a good customer experience team, but is more work required to sell the product into wider use cases, teams and departments?
36.
What is the long-term stickiness of Bryter’s product once a customer has an initial use case for it? You mentioned 100% net revenue retention in the first year. How high are the barriers to switching for a customer?
37.
Have you noticed clients leaving Bryter? If so, what are the most common reasons for leaving?
38.
What is your outlook for Bryter?
39.
Are there any points we haven’t covered about Bryter in our discussion?
40.
Where would you say Bryter’s poor culture stems from?
