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Tom Coburn

๐Ÿ‘ค Speaker
135 total appearances

Appearances Over Time

Podcast Appearances

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

First, it comes in the short term.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

Did this Jebit experience actually convert the consumer at a higher rate in the moment, which we've been able to prove time and time again?

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

And then the second one is,

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

Once I actually take this declared data I get from the Jebit experience and use it in some type of remarketing campaign, what's the lift I see there?

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

And so it has really just been, I think, over the years as we get more and more case studies and get more brands using it, it's becoming very clear to us that we are driving a much higher ROI for our brands than what we've been charging, which is why we've just continually been, you know, raising that price point over time.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

And obviously, as enterprise brands use it more, they pay more.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

So obviously, we look at it on the customer logo side of things and then the revenue side of things.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

So last year, we lost just under 20% of logos annually, part of which was some of our own decision making, which I can get into in a second.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

But we hit net negative revenue churn, which was really what we were optimizing for.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

Say that again?

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

About negative 10%.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

Yeah, so we felt good about that.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

And part of that was our conscious decision to focus less on maybe some of those customers that had been with us for longer years on the platform that were maybe spending $1,000 a month.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

And for us to proactively focus on the customers that were spending, you know, $10,000 a month that we were confident we could expand to 20.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

And, you know, that was just a decision as a small company with a small customer success team.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

You know, just one of those, those.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

hard decisions we had to make that like as we involve or as you know in the early days you want to work super hard to change to save every customer and make sure every customer loves you and uh you know for us to evolve that thinking i think was uh an important step in the business and what are you kind of as you're going through all these changes is your cac changing at all what are you paying now to acquire customers

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

Yeah, we're in like the 10 to 15 K range.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

And that's all in that includes all salaries that are focused on getting new customers, marketing spend, etc.

SaaS Interviews with CEOs, Startups, Founders
858 SaaS: College Business Plan Turned $4m Biz, "We Just Raised $6m"

We don't spend a lot in that area.