The Qohash Guide to Customer Advocacy in Regulated Markets
Every SaaS playbook emphasizes the importance of customer testimonials and case studies. But what happens when your largest customers won’t publicly acknowledge using your product?
In a recent Category Visionaries episode, Qohash CEO Jean Le Bouthillier revealed how his company navigates this common challenge in regulated markets.
The Reference Paradox
“We are lucky that we have some customers that have given us the authorization to publish case studies, in some cases videos,” Jean shares. “But it has happened to us a few times where we’ve done the case study, we’ve done the video, and at the last minute, the risk department won’t allow it to be published.”
This isn’t just about bureaucracy. Security teams have legitimate concerns: “They’re fearful about two things,” Jean explains. “Number one, adversaries knowing what they’re using. They don’t want it to be too publicized. And number two, if something ever happened, they don’t want to have statements out there or different comments, especially about their data security posture.”
Building Trust Through Channel Partners
Faced with this challenge, Qohash developed alternative credibility-building strategies. One key approach: leveraging channel partnerships. “Channel partners have access to a much vaster pipeline of qualified opportunities where they have trust, credibility and attention,” Jean notes. “And these are the three things a startup can’t buy, no matter how much capital it raises.”
This insight led to a crucial pivot in their go-to-market strategy. Instead of relying solely on direct customer references, they built credibility through trusted intermediaries.
The Direct Sales Foundation
But channel partnerships alone weren’t enough. “Why would a channel partner bring your new unproven product to market?” Jean asks. “You have to sell it directly first. You have to demonstrate you can sell it. You have to have a sales process for the channel partners to decide to take it on.”
This approach created a virtuous cycle:
- Direct sales proved the model
- Success attracted channel partners
- Partners provided credibility
- Credibility led to more direct sales
Navigating Enterprise Complexity
The enterprise security landscape adds another layer of complexity. “Cybersecurity buyers are basically overwhelmed,” Jean observes. “They don’t want to be talking with the next 100 startups that have a shiny object. They want to be talking to trusted advisors that have been with them for a while, where they know they’re going to get an unbiased opinion.”
This reality shaped Qohash’s approach to building trust. Rather than pushing for public references, they focused on demonstrating credibility through:
- Industry expertise
- Technical depth
- Process maturity
- Channel relationships
Measuring Success Beyond References
Without traditional customer success metrics, Qohash developed alternative indicators. The company has maintained “75% growth” while expanding from mid-market to enterprise customers with “50,000 25,000 employees.”
Their focus has shifted to efficiency metrics like “reduction of our customer acquisition cost, reduction of the sales cycle, CAC payback.” These metrics help demonstrate credibility to potential customers even without public references.
The Path Forward
For startups in regulated markets, Qohash’s experience offers a crucial lesson: customer advocacy isn’t just about public references. It’s about building a network of trust through:
- Strong channel partnerships
- Proven direct sales processes
- Operational excellence
- Clear efficiency metrics
As Jean notes, “It’s very crowded, so I would qualify it as important but challenging.” The key is developing alternatives to traditional social proof that still demonstrate value and build trust in regulated markets.
The strategy is working. Qohash has “good penetration in the financial services market in Canada and in the US,” proving that even without traditional customer references, there are paths to building credibility in highly regulated industries.