Disclosure certainty 4/5 debate potential 2/5

Harris: SpringBig tells overactive clients to text less for long-term retention

Jeffrey Harris · SpringBig Raised $11.5m on $100m Valuation at $20m Revenue in Niche CRM Space · Feb 21, 2021 · at 13:23

Jeffrey Harris, CEO of SpringBig, explains the company's customer success approach and retention strategy.

0:00 / 0:21exact quote · 21.9s
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“So we will actually go to clients as crazy as it sounds to say, Hey, you're texting too much, right? Because you're not seeing the value from it. Cause at the end of the day, I'd much rather have that client for five years and get them to generate a little bit less revenue each year, then let them go ahead and go crazy on texting. And have more revenue in the short term, but then they come back to me and say, Hey, I just spent 22 grand and I'm not seeing the same ROI.”

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More from Jeffrey Harris

Assertion Supported
Harris: HubSpot Lacks Built-In Loyalty Programs and SMS Marketing Segmentation
“What we created is a unique SaaS platform that helps our retail clients and cannabis manage their loyalty program, which is something HubSpot doesn't offer. And then through that loyalty program, we create a lot of different segmentation for them that they can…”
Jeffrey Harris Feb 21, 2021 ▶ 2:05 SpringBig Raised $11.5m on $100m Valuation at $20m Revenue in Niche CRM Space
Disclosure
Harris: SpringBig clients pay an average of $18,000 annually
“So they pay us on average about 18,000 dollars a year.”
Jeffrey Harris Feb 21, 2021 ▶ 3:09 SpringBig Raised $11.5m on $100m Valuation at $20m Revenue in Niche CRM Space
Disclosure
Harris: SpringBig client monthly spend ranges from $450 to $60,000
“We have some guys that are actually paying 20, 30, even 60,000 dollars a month, and we have some paying as low as four 50 a month.”
Jeffrey Harris Feb 21, 2021 ▶ 3:16 SpringBig Raised $11.5m on $100m Valuation at $20m Revenue in Niche CRM Space
Disclosure
Harris: A single SpringBig retailer sent 16M+ SMS in January
“Particular retailer sent out over sixteen million messages in the month of January.”
Jeffrey Harris Feb 21, 2021 ▶ 4:02 SpringBig Raised $11.5m on $100m Valuation at $20m Revenue in Niche CRM Space
Disclosure
Harris: SpringBig MRR is 70% SaaS and 30% overage fees
“So about 70% of SAS and about 30% of overage, which we actually like that mixed percentage.”
Jeffrey Harris Feb 21, 2021 ▶ 4:16 SpringBig Raised $11.5m on $100m Valuation at $20m Revenue in Niche CRM Space
Prediction Held up
Harris: SpringBig will reach $2M per month in 2021
“Yeah, we will hit that this year.”
Jeffrey Harris Feb 21, 2021 ▶ 6:22 SpringBig Raised $11.5m on $100m Valuation at $20m Revenue in Niche CRM Space
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