Joel Holland, CEO of VideoBlocks, details how shifting from monthly plans to upfront annual billing improved retention across multi-year cohorts.
0:00 / 0:08exact quote · 8.7s
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“And now our retention rates are much better. They started like 80% for year one by year two, our customers are at 90%. And by year three, they're almost at a hundred percent.”
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More from Joel Holland
Disclosure
VideoBlocks pays marketplace contributors 100% of clip sales
“And in fact, we pay you the best in the industry, we pay you a hundred percent of what sells because we make all of our money off of memberships.”
Joel HollandOct 10, 2016▶ 6:48EP 443: SaaS $20M 2015 ARR, 150K Customers Giving People Quality Video, Photos, Audio with Joel Holland, CEO of VideoBlocks
Insight
Holland: Diminishing marketing returns should kick in almost immediately
“And the answer is, if you're really good, then diminishing returns should kick in almost immediately.
You should be able to almost arbitrage channel you know, instantly.”
Joel HollandOct 10, 2016▶ 17:03EP 443: SaaS $20M 2015 ARR, 150K Customers Giving People Quality Video, Photos, Audio with Joel Holland, CEO of VideoBlocks
Insight
Joel Holland advises founders to demand covenant-free venture debt terms
“So I would definitely tell anybody listening, if you're going to do debt, make sure it's covenant free, not covenant light, like covenant free.”
Joel HollandOct 10, 2016▶ 19:17EP 443: SaaS $20M 2015 ARR, 150K Customers Giving People Quality Video, Photos, Audio with Joel Holland, CEO of VideoBlocks
Disclosure
VideoBlocks encourages its content creators to sell footage to competitors
“A hundred percent. And we actually encourage that because we want the shooters to make as much money as possible.”
Joel HollandOct 10, 2016▶ 10:59EP 443: SaaS $20M 2015 ARR, 150K Customers Giving People Quality Video, Photos, Audio with Joel Holland, CEO of VideoBlocks
AssertionNot checkable as stated
Holland: VideoBlocks Has 150,000 Paying Members
“We've got 150,000 paying members.”
Joel HollandOct 10, 2016▶ 5:17EP 443: SaaS $20M 2015 ARR, 150K Customers Giving People Quality Video, Photos, Audio with Joel Holland, CEO of VideoBlocks
PredictionNot checkable as stated
VideoBlocks is projected to generate $26M in 2016 subscription revenue
“I think we'll do about twenty six million dollars this year in revenue and that's all memberships.”
Joel HollandOct 10, 2016▶ 5:31EP 443: SaaS $20M 2015 ARR, 150K Customers Giving People Quality Video, Photos, Audio with Joel Holland, CEO of VideoBlocks
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