Joe Coleman
๐ค SpeakerAppearances Over Time
Podcast Appearances
And history has shown that in many cases, they're just not good customers for us.
So for the last 18 months, we've been very much focusing on getting our customer mix right, getting it to be the kind of customers where we do really well, Fortune 500.
And when you look at that cohort, we're at 90 plus percent gross retention and then net negative on the MRR turn side.
So we're in a really good place.
Our work today is to get
the existing base of customers that aren't there yet and either move them out if they're too small or work with them to get them to sort of join this pool of companies that are using the solution in the right way that kind of increases retention across the board.
Yeah, that's right.
Our dollar, our logo retention is actually much better, but...
It's useful, but it's not nearly as useful as tracking dollar retention.
Say that again?
Yeah.
Yeah.
So here's, here's why that is because many of our larger customers were working inside of several different divisions.
Um, so someone like JP Morgan, we're managing 12 different lines of business through there.
Uh, RBC has, uh,
I think 13 different lines of business.
We just signed a deal with Ricoh where we're powering 16 different lines of business.
And so what happens inside these organizations from quarter to quarter is you may lose one of those divisions.
And you may lose two of the divisions, but you still have five other divisions that are working within that brand.
And so that means that you keep the logo, even though you're shedding some of the MRR, you're shedding some of the dollar turn.