Seth Lieberman, founder and CEO of SnapApp, discusses customer retention and lifetime value with Nathan Latka.
0:00 / 0:08exact quote · 8.2s
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“On average, I'd say our lifetime customers are with us three to five years. I mean, we're still early, so it's hard to tell, right?”
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More from Seth Lieberman
Insight
Agencies can no longer sustain businesses selling custom code, says Lieberman
“You can't have a business selling code anymore to companies. Nobody wants to pay for custom code, right?”
Seth LiebermanJan 8, 2018▶ 4:19898 SaaS: SnapApp Lands Amazon as Customer, Passes $8m in ARR
Insight
Founders should raise maximum capital or fully bootstrap, says Seth Lieberman
“Increasingly I think you should do one of two things. You should either figure out how much money you can raise, and you should raise every dollar plus one, right?”
Seth LiebermanJan 8, 2018▶ 12:46898 SaaS: SnapApp Lands Amazon as Customer, Passes $8m in ARR
PredictionNot checkable as stated
SnapApp predicts higher customer churn than established SaaS verticals
“I think we as a company will always have a higher churn rate on the customer count over the next five years than an established vertical, right? Like, you know, a lot of the, you know, CRM, marketing automation, analytics, those guys, their churn rates should …”
Seth LiebermanJan 8, 2018▶ 6:52898 SaaS: SnapApp Lands Amazon as Customer, Passes $8m in ARR
“The flip side of it though, is the more complicated you make it, the harder you make it to sell. And so we, you know, like any SaaS company, we try and walk that line, which is how do we leave ourselves enough variability that we can get the right amount of mo…”
Seth LiebermanJan 8, 2018▶ 11:09898 SaaS: SnapApp Lands Amazon as Customer, Passes $8m in ARR
Disclosure
Amazon is a paying SnapApp customer, while HubSpot is not
“You know, so if HubSpot buys a 20,000 dollar license from us, and Amazon, and they're not a customer, Amazon is a customer actually, and Amazon buys a twenty million dollar, our CAC is still the same, right?”
Seth LiebermanJan 8, 2018▶ 16:16898 SaaS: SnapApp Lands Amazon as Customer, Passes $8m in ARR
Disclosure
SnapApp is approaching $10 million in annual recurring revenue
“Yeah, we're getting to 10. We've got a little bit of work to do, but I keep hearing the gong ring over in the sales bullpen.”
Seth LiebermanJan 8, 2018▶ 17:36898 SaaS: SnapApp Lands Amazon as Customer, Passes $8m in ARR
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