Steven Rhyne, co-founder of Conveyor, explains the primary drivers behind reducing his company's revenue churn.
0:00 / 0:05exact quote · 5.9s
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“I think the biggest thing, not just product improvements and onboarding and all that, but the customers that you hire.”
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More from Steven Rhyne
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Rhyne: Traditional MOOCs Suffer Low Engagement Because of Format
“Typically like a WordPress, large MOOC with lots of units, and they had really bad engagement on those courses. Simply not because of how they built it, but because of The format.”
Steven RhyneMay 2, 2019▶ 4:261377 Moving To Enterprise Reduced Revenue Churn by 50% in Under 12 Months
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Rhyne: Micro-agencies offer immediate team cohesion over hiring individual freelancers
“I tend to like working with these micro agencies. So it's like one or two developers, maybe a designer developer team. They tend to work really well together. So you get that cohesiveness right off the bat, rather than trying to find your own designer, find yo…”
Steven RhyneMay 2, 2019▶ 10:051377 Moving To Enterprise Reduced Revenue Churn by 50% in Under 12 Months
Disclosure
Rhyne: Conveyor shrunk customer base to 100 while moving upmarket
“I told customers have actually shrunk because we're going more up market. So we're only at about a hundred customers right now.”
Steven RhyneMay 2, 2019▶ 5:161377 Moving To Enterprise Reduced Revenue Churn by 50% in Under 12 Months
Disclosure
Rhyne: Conveyor has reached about $845k in ARR
“So revenue ARR is about eight, 45.”
Steven RhyneMay 2, 2019▶ 5:361377 Moving To Enterprise Reduced Revenue Churn by 50% in Under 12 Months
Disclosure
Rhyne: Conveyor has never taken debt, funding growth via customer profits
“We've never taken a debt, you know, debt or Borrowed any money. And then we've been funding this with the profits from our largest customers, so.”
Steven RhyneMay 2, 2019▶ 9:251377 Moving To Enterprise Reduced Revenue Churn by 50% in Under 12 Months
AssertionNot checkable as stated
Rhyne: Conveyor's monthly net revenue churn averaged 7% in 2019
“And this year it's averaged seven percent.”
Steven RhyneMay 2, 2019▶ 11:041377 Moving To Enterprise Reduced Revenue Churn by 50% in Under 12 Months
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