Vidyard co-founder and CEO Michael Litt details the company's customer acquisition cost payback metrics.
0:00 / 0:04exact quote · 4.8s
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“So our target payback, and again, we're kind of in a growth phase is a year and a half.”
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More from Michael Litt
AssertionContradicted
Michael Litt claims Box artificially lowers CAC by filing hosting under COGS
“Historically, actually, and this may be an interesting backtrack is, is Box, right? When they host someone's files for free, right? In my opinion, that's a customer acquisition cost because you're paying for that content, but you know, they file that away as a…”
Focusing on high lifetime value causes SaaS teams to neglect customer onboarding
“So we don't actually use it as a heuristic in our business, and our board doesn't actually Want us to, because, you know, if you do focus on that, you can start to feel really comfortable about your customer base. And then you can start to like neglect custome…”
Litt: Scaling CFOs must act as a 'house of no' against executives
“Your CFO has to become what we call the house of no. And so you get to a phase where as you bring in experienced executives and individuals who've been a part of bigger businesses, they want to spend a lot of money.”
Michael LittOct 12, 2017▶ 5:27810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth
AssertionNot checkable as stated
Litt: Vidyard's net revenue retention is above 120%
“Our internal target's 95 of which I'm compensated against. And then best in class net retention tends to be about the 120% range. And of course, based on that gross retention number and our 30% target, which we hit, we're above that as well.”
Michael LittOct 12, 2017▶ 10:23810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth
Insight
Litt: Video SaaS must offer more than hosting to compete with YouTube
“If you're just hosting video for a company you're competing against status quo, which is YouTube or Vimeo, which is free and monetized based on ads. And so there needs to be a whole bunch more in the package that justifies value beyond just video hosting anywa…”
Michael LittOct 12, 2017▶ 13:47810: SaaS: With $70m Raised, White Board Videos Secret to VidYard 2x YoY Growth
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