Disclosure
Better Agency Yields 25 Customers per $10k Spend, Converts 70%
“So on tenk in spend, we'll get about 25 net new customers, so we'll get a bunch of trials, and we convert about 70% of those trials, so that'll equate to about 25 new paying customers.”
Disclosure
Better Agency Cancels Inactive Trial Accounts to Force Re-Engagement
“If they don't engage with our onboarding team, we look at a trial as a, as an opportunity for a paying customer. So we immediately start reaching out and trying to onboard. They don't engage with us and they have no usage. We'll preemptively cancel their accou…”
What-if
Shaw: Better Agency could have achieved a higher valuation in a frothy market
“We could have totally have driven it higher. I mean, the market, you know, better than I do, the market's pretty frothy right now, and we could have driven it higher, but we were really, my biggest problem with fundraising was telling people no, and the reason…”
Disclosure
Shaw: Better Agency excludes upsells and upgrades from affiliate commission payouts
“So what we do is it's on the base application that they bring in, and then we kind of take on charge of upgrading them, and so we don't pay out the upgrades to the affiliates.”
Disclosure
Better Agency targets spending up to $1,500 CAC for 10:1 ratio
“So right now we're willing to spend upwards of 1500 dollars to get all in to get a customer because we can eat We can keep that kind of 10 to one ratio.”
Assertion Not checkable as stated
Shaw: Much of Better Agency's competition isn't on the cloud
“There's a lot of things we run into where companies have been in this space since the eighties and nineties. And a lot of them haven't, you know, a lot of our competition isn't even necessarily on the cloud.”
Prediction Not checkable as stated
Will Shaw: Better Agency expects average customer price to reach $500/month
“And now we're getting our average customer a little over 400 and we think we can get to 500 over the next 12 months.”
Assertion Not checkable as stated
Will Shaw: Better Agency hits $1M ARR across 260 customers
“So right now we're somewhere around 260 customers. And we just broke the one million ARR mark.”
Disclosure
Will Shaw: Better Agency bootstrapped to $1M ARR before raising seed capital
“So we bootstrapped to this point. We are tomorrow actually closing our first round. So we've got to this far bootstrapped. And so we just are closing on our first round tomorrow.”
Disclosure
Shaw: Better Agency is raising $2.1M at a $15M post-money valuation
“So we're going to raise a total of 2.1 million. It's going to be at a fifteen million dollar post.”
Disclosure
Shaw: Better Agency's $2.1M round is split between lead angel and strategics
“We have about 50% from our lead investor, and the other 50% is divided between insurance-specific strategic investors, and then the other half of that would be through strategic other verticalized CRM founders or some people that we know”
Disclosure
Better Agency Burned $10k to $12k in June Pre-Seed
“About 10 or 12 K. So not a ton.”
Assertion Not checkable as stated
Better Agency Grows at Average 10% Monthly Since August 2020
“And then we're growing an average about 10% a month, and we've kind of been consistent about that since about August of 2020.”
Disclosure
Better Agency Gets 70% of Customers Organically, 30% Paid
“Yeah, so about 30% are through our paid strategy and about 70% are coming through either referrals or organic.”
Assertion Not checkable as stated
Better Agency maintains around 2% monthly churn
“So we're hovering around two percent monthly churn, and I believe on an annual basis, correct my math, what is that about?”
Assertion Not checkable as stated
Will Shaw estimates Better Agency net dollar retention at 105% to 110%
“I think we're between a 105, a 110% based off our upsell, but our goal is to get that to one.”
Assertion Not checkable as stated
Better Agency estimates its customer LTV between $12k and $14k
“Our LTV right now is, is somewhere ranging between, again, it's a guess because we're a young company. So this range is pretty significantly, but I would say we're steady between 12 to 14 K in our LTV.”
Disclosure
Better Agency pays sales rep $150K-$160K OTE on $500K-$550K quota
“So their on target earnings would be about one, assuming they're going to close about half a 1,000,500 to 550 K they're on target earnings. It's going to be about one 50 to one 60.”
Disclosure
Better Agency co-founders retain 75% to 80% equity post-seed round
“We control about it almost, I think it's about 70, between 75 and 80% without looking at the cap table.”
Disclosure
Shaw: Better Agency pays $6,000 to $7,000 monthly in affiliate commissions
“We're, it's still pretty small. We're probably, we're paying on an average about six to seven grand a month right now.”
