Epstein: Ambassador's Customer Lifetime Value Exceeds $50,000
Jeff Epstein · 1150 Detroit Based Referral Program software passes $600k in MRR · Sep 17, 2018 · at 13:31
Jeff Epstein, founder and CEO of referral software startup Ambassador, breaks down customer lifetime value and retention metrics with Nathan Latka.
0:00 / 0:03exact quote · 3.4s
720p mp4 · rendered on demand · StarZero watermark
“I mean, we're north of 50,000 now in terms of lifetime value, which is pretty great.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Jeff Epstein
Epstein: Raising prices and moving Ambassador upmarket significantly reduced customer churn
“So one of the things that we really learned was actually most people would think this is counterintuitive, but actually charging more and going up market
Significantly reduced churn.”
Solo founders carry the operational burden despite hiring, says Jeff Epstein
“When you're the solo founder, essentially there's just so much more that you're just carrying the weight of, and it has to be that way, right? Like you can't you can't have it any other way. Even if you hire someone to do the work did the equity splits and thi…”
First-time founders dilute products by saying yes to every customer request
“And the first time founder, I'm like, I just wanted to say yes to everything and then just start building that. And then you end up going in 50 different directions and you're like, does it actually work for anyone specific? And so this time we're more intenti…”
Ambassador raised prices quarterly for five years without losing any customers
“We raised our prices every quarter for almost five years, and we didn't lose customers.”
Epstein: Small SaaS customers demand as much support time as enterprise accounts
“Every person has to answer a question they have to spend as much time, potentially more time with a small customer as they do with an enterprise customer.”
Ambassador includes customer success and engineering costs in its CAC calculation
“We basically tried to do like the most fully loaded version, which was a portion of, it was all of sales, a portion of success, and even a portion of engineering. So it was like a pretty, and then obviously like marketing too.”