Mike Walrath: Yes. I think – look, I think that’s the hardest thing to predict, right? And so in a world where overall demand is improving, which we mentioned right both sort of total demand and qualified demand, which really just refers to different stages, we would – and the macro environment is improving what you’d anticipate is that those rates recover to what they were before we went into challenging macro at least three or four quarters ago. And you have more demand so that would indicate that you’re going – that we’re going to grow the book, right? And so we have the one signal that we are very happy with which is there is more opportunity, there is more demand, there is more interest, and we track that through all stages of the pipeline that we’re responding – campaigns are creating responses and interest and all of those things.
So we either need to see that continue to build to the point where we can actually outrun the macro headwind or we see the macro headwinds subside and deals get easier to do, particularly at the enterprise level, which is where we see the sort of faster acceleration of ARR. And look, I wish I could tell you when that’s going to happen. I think we’re pretty clear that we don’t that our guide and our forecast doesn’t anticipate that, that is getting better in the back half of the year. We think these – we think the caution that’s tied to the macro uncertainty and really these businesses like the market hate uncertainty, we expect that to continue. If it improves faster than we would expect to see benefit from that, and if it gets worse, we would expect to see the impact of that as well.
Unidentified Analyst: Got it. Well, thank you for taking my questions.
Mike Walrath: Pleasure.
Operator: [Operator Instructions] The next question is from Ryan Macdonald with Needham. Please go ahead.
Ryan MacDonald: Hi. Thanks for taking my questions. Mike, I appreciate the macro environment is a bit challenged, but one of the areas that you seem to be continuing to have some nice success is with these boomerang customers. Can you just talk about what the dynamics are at play portion of the market from a competitive perspective? And whether there is a specific strategy that you’ve employed that seems to be leading to the success? And how large of a revenue opportunity should we think about this boomerang customer opportunity being moving forward?
Mike Walrath: Yes. So I’d say some high-level things about that. Marc may want to jump in with some more specifics. But I think – when you think about like what the boomerang customers typically look like because of the relative newness of much – many of the products, they’re primarily going to be listings and reviews customers who are boomeranging. And typically, when we saw – you know, which we’ve talked about, we saw some of these listings and reviews customers go elsewhere over the last two, three, four years. We’ve talked about this a lot. They were promised certain things by competitors and in a lot of cases, they moved for lower-cost solutions. And I think what they found was that the ones that are coming back clearly didn’t get the value that they were expecting elsewhere, and so we’re seeing them return.
I think I say like on the same token, on the flip side of that, when there is significant budget pressure in the market, the attraction to moving to a lower-cost provider is going to going to be there as well. So I think we’re happy to see the boomerang is happening and we’re very focused on making sure that we do everything we can to keep companies like those that are now coming back from leaving for what might appear to be greener pastures or just cost savings and then turn out to have a product that really doesn’t work very well or a set of services don’t work.
Ryan MacDonald: Yes.
Marc Ferrentino: Yes. As Mike said, the majority of the customers are really a lot of the listings customers. What you see over the last few years is some of our competition doing some unnatural things from a deal structure standpoint and the old adage is you get what you pay for. And so listings quality, the support models, the ability to resolve issues at scale are really all areas where competition has fallen down really. And when you’re talking about mission-critical data being out there in the Internet, you’re talking about your public presence and sort of driving top of the funnel, you really can’t go with a second-rate solution. And in some cases, the customer has to go through that experience before they realize the overall value that we’re providing for years. So that’s what we’re going to see and I expect us to continue to see that in future quarters.
Ryan MacDonald: That’s a helpful color there. Appreciate it. And maybe as a follow-up. So I get that we have some sales cycle elongations now, but is there any strategies you’re unable to employ to essentially nudge prospective customers along in the pipeline at this point, whether it’s utilizing pricing or flexible deal structures as maybe a way to take advantage of trying to gain some market share in a more difficult time? Or is it a pretty frozen end market at this point?
Mike Walrath: Yes. No. I mean we’re always looking for those opportunities, and sometimes – I’ve said before, sometimes, there’s a consolidation opportunity. Sometimes those are – we can do two or three things that they’re evaluating and we can do it all at a lower cost, and that’s how they can find some cost savings. And so we’re really happy to engage in those discussions. We’re obviously looking at pricing, we’re looking at packaging, we’re looking at different ways to address our customer needs to be efficient. The same way we’re addressing being efficient as a business as well, and I think this kind of optimization will continue for a while. And I anticipate that we’ll get back to the business of building really high ROI digital experiences as we get through this kind of – this period.
Ryan MacDonald: Thanks for taking my questions.
Mike Walrath: Pleasure. Thanks.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Mike Walrath for any closing remarks.
Mike Walrath: Thanks everybody for joining us, and look forward to talking to you soon.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.