Very cool - I haven't seen many places lay out the numbers so transparently. Something we're trying to do.
Some of our clients don't pay every month. It's just the nature of the business. Sometimes they maybe skip a month or two and then come back. Not sure how to think about this with churn. Any suggestions? Should we just come up with a rule and stick with it (Churn would be a customer who hasn't paid us in the last 60 days), type of thing?
Look at the annual LTV, and accumulated revenue per client. With regards to churn, you need contracts with soft commitments, 3 months, 6 months and then push clients to renew. Unfortunately you need consistent retainers, you can not skip a month. If you want to build a healthy client management. We've done exceptions in the past but as we've been growing the only way is contacts + renew process.
Makes sense. I am starting to realize this with the whole soft commitments thing. We wanted to always be month to month, no contracts, but, eventually it sort of runs its course...
Outbound - cold outreach (email, LinkedIn, phone), whereas Direct - people who register for a demo on the website without a known source of traffic (where they came from), or who just simply put 'Belkins.io in their URL or click Belkins.io on Google search'
Very cool - I haven't seen many places lay out the numbers so transparently. Something we're trying to do.
Some of our clients don't pay every month. It's just the nature of the business. Sometimes they maybe skip a month or two and then come back. Not sure how to think about this with churn. Any suggestions? Should we just come up with a rule and stick with it (Churn would be a customer who hasn't paid us in the last 60 days), type of thing?
Look at the annual LTV, and accumulated revenue per client. With regards to churn, you need contracts with soft commitments, 3 months, 6 months and then push clients to renew. Unfortunately you need consistent retainers, you can not skip a month. If you want to build a healthy client management. We've done exceptions in the past but as we've been growing the only way is contacts + renew process.
Makes sense. I am starting to realize this with the whole soft commitments thing. We wanted to always be month to month, no contracts, but, eventually it sort of runs its course...
Until $100K-$200K MRR you can do all of that, after you hit more, it's gonna be tough to make exceptions. Better to fix this early on.
Make sure you like all the posts! =))))
You list "Outbound" and "Direct" as separate channels. What's difference?
Outbound - cold outreach (email, LinkedIn, phone), whereas Direct - people who register for a demo on the website without a known source of traffic (where they came from), or who just simply put 'Belkins.io in their URL or click Belkins.io on Google search'