Fox: Incomplete onboarding setup was the top churn driver at Brex
Lucas Fox · SaaStr CRO Confidential: Brex GM of Startups Lucas Fox on Customer Retention and Expansion · Feb 16, 2023 · at 13:17
Lucas Fox, General Manager of Startups at Brex, describes the findings from Brex's internal churn audit and root cause analysis across startup accounts.
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“One of the things that we realized was that one of the biggest reasons why customers would churn was because they weren't properly set up on Brex, right? So, you know, they would sign up to Brex, and they would start using the Brex card, and they would deposit some money into our Brex business account but they wouldn't really get up and running, and they wouldn't migrate 100% of their banking or their corporate card to Brex. And we realized that was actually, like, the majority the number one reason my customers would ultimately turn is because, like, they never got set up properly”
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