What we’re not going to do is put a pricing structure in place that penalizes them or pressures them into using solutions that maybe good for our P&L, but not good for theirs. And we’re going to focus our pricing efforts in that way where we’re going to make sure that our pricing ramps with their growth. We’re going to offer them the ability to negotiate a lot of those discounts in advance with volume changes that grow alongside their business while giving them the freedom to pick the solutions that makes the best sense for them whether that’s on the payment side, whether that’s on tax or any other solution, as well. So for us a growth lever, I do think that scenario where we can continue to see growth in the business. But we’re going to do so in an opportunistic way in a way that we think is congruent not only with our success, but also for the success of our customers rather than it being at their expense.
Jeremy Sahler : That makes sense and thanks for taking my questions.
Operator: Thank you. And our next question comes from Brian Peterson with Raymond James. Please go ahead.
Unidentified Analyst : Hi, thanks for taking the question. This is Jonathan on for Brian. On sales cycles, so, just a quick one there, you’ve mentioned a longer the cycle to past due quarters, but I’m curious the second derivative there is improving. Have you seen any stabilization or improvement in the cycles? Or are they along getting further? And then I have a quick follow-up.
Brent Bellm : Quick answer, they’ve been essentially the same. Some months are a little bit higher, some months are a little bit low, but if you draw a trend line across, it has been largely the same for several quarters a row going back into 2023.
Unidentified Analyst : Okay. Perfect. That was helpful. And then double clicking on the macro commentary and better than guidance, so during the prepared remarks you referenced consumer health holding up in Q1, but I’m curious what degree that stance is reflected in the current guidance outlook. Basically trying to get at, if consumer trends do weaken how much conservatism have you baked into the forecast there?
Daniel Lentz: Good question. I think we baked in appropriate conservatism. What we haven’t baked in is the assumption that we’re going to see a holiday period in Q4 of this year necessarily the way that we saw last year. We had a really, really good period – holiday period in Q4. We also, we had a performance bonus with one of our technology partners that was that big enough to matter, but not necessarily the reason why the quarter was outstanding. But if you just look at the front half to back half mix of revenue baked into the guide, compared to where we’ve been in years past, you’ll see that our back half guidance looks a little bit conservative relative to the front half back, half mix that we’ve seen in the past. That’s reflective of our conservatism and the fact that frankly, I don’t want to get over our skis from a guidance perspective on the consumer spending side of things before we start to see some signals from the holiday period.
So again, as Brent said, there’s a reason why we’re choosing the word resilient. It’s not perfect, but it’s certainly been encouraging, gives us reason for optimism, but we’re going to continue to manage guidance conservatively, especially as we want to see continued improvements in new bookings growth, which I really think is a key signal for us as we think about the rest of the year.
Unidentified Analyst : Thank you very much.
Operator: Thank you and our next question today comes from Gabriella Borges with Goldman Sachs. Please go ahead.
Kevin Kumar: Hi, this is Kevin Kumar on for Gabriella. Thanks for taking my question. Brent, can you talk a bit about the partner channel and how they’re performing in terms of driving new business and bringing in top of funnel as we call? Thank you.
Brent Bellm : Yeah the partner channel for Enterprise has consistently over time delivered about 35% to 40% of our sales volume, meaning they source that. And on an equivalent basis, we source Enterprise deals and they feed them back into the partner channel. So collectively gets in the 70% to 80% range of our Enterprise customers who are using an agency partner? So overall agency partners are absolutely essential to the success of Enterprise ecommerce. We also see that our customers who use an agency partner have faster implementations and more successful implementations. So we want to be the best partner in the industry in working with the best agencies in the industry of all sites. The agencies themselves have been reporting to us whether there are partners who are serving competitive platforms that they’ve seen a slowdown in aggregate level migrations and new ecommerce launches since the end of the pandemic.
And so, aggregate sort of new demand in the industry overall is down to where it has been historically. And that’s a little bit top line agencies, but we’re hoping the BigCommerce can keep growing both aggregate share and competitiveness, so that our agency partners are the most successful in the industry. That’s our shared goal with them.
Kevin Kumar: That’s helpful. Thank you.
Operator: Thank you. And this includes our question and answer session. I’d like to turn the conference back over to Brent Bellm for closing remarks.
Brent Bellm : Yeah, I’d just say as we look to the back half of the year, we’re excited about the competitiveness of our product, mid-market, and Enterprise, B2C and B2B and composable. We also believe that now with Travis’ incoming leadership, we have the right and are implementing the right Enterprise-level go to market motions from sales, marketing, and service, as that fits the product. And so those two in combination give us optimism that we can achieve our goal of re-accelerating top line growth now on a foundation to very solid profitability. That’s what we’re looking forward to in the back half of the year. And we’re grateful to all of our customers, partners and shareholders who have tuned into this call and have followed the company. Thanks.
Operator: Thank you. This concludes today’s conference call. We thank you all for attending today’s presentation. You may now disconnect your lines and have a wonderful day.
