Radu: Omniconvert customers past three months retain for 3-4 years
Valentin Radu · 1388 Does he really have $95k in MRR? You decide. · May 13, 2019 · at 5:13
Valentin Radu, founder of Omniconvert, explains customer retention patterns and time-to-value to Nathan Latka.
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“After they break the three months barrier, they can, they are staying with us for three or four years.”
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More from Valentin Radu
Radu: OmniConvert generates around $95K in monthly revenue
“We are sitting at around 90 five K per month.”
Radu: OmniConvert enterprise contracts average around $50K annually
“The annual contract is around 50 K per, per year.”
Radu: OmniConvert software-only enterprise tier costs roughly $20K per year
“Those 50,000 can go down to something like 20 K. Okay. We are not getting customers which are not having enough traffic. So based on the traffic that they are having, they are, they would be paying us something like 20 K for the software.”
Radu: OmniConvert monthly revenue churn is 2% for enterprise, 6% for low-tier
“Our revenue churn is around two percent for them. While for the other ones, it's around six percent”
Radu: OmniConvert pivots from custom enterprise consulting to machine learning
“We've decided that the old model of doing extra work for large companies or selling a manual product for the midsize or small companies is not working anymore. And that's why we are now focused on, on a machine learning product.”