The Ledger
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Egnyte avoids consumers and large enterprises to target the mid-market
“We decided that we're going to focus on two segments, what we call a commercial segment and a mid-market segment, and we said we're not going to focus on these other segments which is real large enterprises and also consumers, so we don't offer free solutions …”
Egnyte reduced its annualized gross dollar churn to under 6%
“So our annualized gross churn from a dollar perspective is under six percent, and this is a number that we have worked steadily down from double digits over the course of the last three or four years.”
Early-stage SaaS startups often neglect retention to build their sales models
“And this is not something early stage SaaS companies think about. You're so keen on building a sales model that a lot of the stuff in terms of retention sort of goes out the door.”
The greatest SaaS churn occurs in the first months post-sale
“The greatest churn happens in those first few months after you've sold something, because you haven't delivered on that promise.”
Egnyte considers customers below 85% adoption within nine months a churn risk
“So we measure adoption, and we measure adoption three months from sale, six months from sale, nine months from sale. If you're not 85% or so consumed of the services that you purchased, Then we got alarm bells going off and trying to figure out how to rectify …”
No Egnyte customers were affected by major ransomware attacks
“When some of the ransomware attacks happened a few years back you know, thankfully we were able to ensure that none of our customers were affected because of just the security of our cloud operations. Not a single one of our customers paid a ransom”
Egnyte saved Balfour Beatty $5M on a major airport renovation project
“As you can see here, we delivered a solution to them that Cut their printing costs just dramatically. So again, the point I'm trying to make here is localized decision, delivered value, and a key outcome around operational, ah, or financial savings. So a lot o…”
Egnyte achieved 100% employee penetration and eliminated competitors at Balfour Beatty
“And ultimately we ended up eliminating all of the other competitive products, and we got a hundred percent penetration of the use cases, as well as the addressable market within the company, which was 3000 employees at the time.”