SaaS Interviews with CEOs, Startups, Founders
1419 "I Don't Know What Logo Churn Means", I Predict They'll Be Dead in Under 12 Months
13 Jun 2019
Chapter 1: What is INBOX25 and how does it function as a marketing automation platform?
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Chapter 2: How does INBOX25 determine pricing for its services?
Reading this really got my wheels and my head turning of how to be resourceful, which many say is the ultimate trait of a successful entrepreneur. My favorite of the four rules is blank. You have to go read the review to find out. But guys, thanks for supporting me on the podcast. I hope you go grab the book on Audible today at capitalistbook.com.
Chapter 3: What challenges did Bill face when starting INBOX25 in 2007?
This is the Top Entrepreneurs Podcast, where founders share how they started their companies and got filthy rich or crash and burn. Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines. We went from a couple hundred thousand dollars to 2.7 million. I had no money when I started the company.
It was $160 million, which is the size of many IPOs.
Chapter 4: How has INBOX25 achieved a high customer retention rate?
We're a bit strapped. We have like 22,000 customers. With over 5 million downloads in a very short amount of time, major outlets like Inc. are calling us the fastest growing business show on iTunes. I'm your host, Nathan Latka, and here's today's episode.
Chapter 5: What is the average customer lifetime value for INBOX25?
Hello, everyone. My guest today is Bill Kalert. He's the co-founder of Inbox25, a leading marketing automation platform with customers in more than 60 countries and thousands of users. Bill, are you ready to take us to the top? Yes, I am.
Chapter 6: How does INBOX25 measure and manage customer churn?
All right. What's the company doing? How do you make money? We are a marketing automation platform. We make money.
Chapter 7: What strategies does INBOX25 use for customer engagement and satisfaction?
We're a SaaS-based model. We help firms to grow their business via the most engaged way possible via personalized yet automated customer interactions. And give me a sense. I mean, what are people paying per month on average for this? $100, $1,000, $10,000?
Chapter 8: How does Bill envision the future of INBOX25 in the marketing automation space?
It really depends on the size of your marketing database. So the greater the number of records in your database, the more you're going to pay, but the less on a per record basis. So what's an average, would you say? We have plans that start at a couple hundred bucks a month and go up from there. Okay, so would you say 300, 400 bucks a month is pretty average for you? Sure, yeah. Okay, very good.
Yeah. And when did you start the company? We started this 2007. 2007, that's a tough year to start. 2008 was not nice to business owners. What made you start in 07? Uh... It was one of those famous, we can do it better situations. Okay. Tell me more about that. Yeah.
So we found that there were holes in the marketplace in terms of how companies were engaging with their customers, what they were trying to do in terms of sending them the right messages at the right time. And we thought we could do it better than what the competition had out there. Got it. So it was 2007. And then fast forward to today, how many customers are on the platform?
We have roughly about 4,000 customers and users across 64 countries. Okay. Just to be clear, I'm looking for just customers, not free users. Oh, geez, probably about 2,000. Okay. 2000. So, okay. That's pretty good. So 50% of your total users are actually paying. Yeah. Okay. That's good. Um, and I want to talk more about how you driven that growth.
But first, if I take 2000 paying customers times, you said 300 or 400 bucks a month, that puts you at about 800 grand per month right now in revenue. Is that accurate? I can't disclose that because we're privately held. I like your time. Well, Hey Bill, just to be clear, I'm using numbers you just gave me. So you said $400 and you said 2000 and I'm just multiplying.
So which of those numbers are wrong? None of those numbers are inaccurate, but like I said, we're privately held. I don't disclose. I can't disclose. I produce a responsibility. Yeah, Bill, sorry, just to be clear, one of those numbers has to be wrong. You can't have an average customer paying $400 a month with 2,000 customers. Okay, so like I said, I did not say that it was $200 a month.
You said that. I told you the number of customers, but I can't disclose revenue. figures because I, like I said, if a deuce area responsibility, but I understand what it is you're trying to do and you're trying to nail me down. But I, I, I just want to make sure the show's accurate. I want to make sure I heard you right. I'm quoting you here.
You just said each one pays on average between 300 and 400 bucks a month. That is what you just said. This is great. Um, I'm not prepared to go into disclose this. So we have a short amount of time. Um, I'd like to pivot. Just correct bill. I want to have correct information. Just correct me first though. Okay. Again, and I, and I, okay. I cannot tell you revenue numbers.
I don't want the revenue number. I'm what you just told me though. One of those numbers is not accurate. So ignore revenue. I just wanted to, you said the average price, and this is for people listening who might want to use you. It's not going to be 300 or 400 bucks a month. It's something different.
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