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Kevin Davis

๐Ÿ‘ค Speaker
220 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

So, I mean, you want to keep it simple.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

And so we've tried to get better in terms of how to explain to the customer that really, you know, you don't want just this one time fix for something.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

It helps that you're part of a plan that in case something happens in the future, or you buy a new product, or you just want to learn something that you're covered and part of that.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

And so,

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

Once we kind of explain the benefits of that, I think that's where they really convert over the one-off transactions.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

But directly, you know, it's about 20% and growing in terms of the percentage of people that would be signing up for support plans.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

Yeah, and a decent amount actually just do it straight off the top because they think that, you know,

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

well, I'm going to pay this amount, you know, if it's like 79 or 99 for, for one time fix.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

But if I do the green plan or gold plan, um, you know, I get more visits per year, unlimited remote support.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

Um, and it's just a better deal.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

So we get both pre-conversion and post.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

Uh, it's, this is a not exact number, but I know that we started it with a ticket number at 10,000 and

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

thousand or like fifty five.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

So something about in the realm of forty thousand customers during that time.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

We raised capital.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

So a total of about 2.7 million from, you know, like Eric Ries, 500 Startups, Dave McClure.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

Just convertible notes.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

Yeah.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

Uh, 2015 revenue.

SaaS Interviews with CEOs, Startups, Founders
EP 396: Why He Raised $3m Then Merged With #1 Competitor

I don't have that number offhand.