The Ledger
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Morrell: Machines write repetitive, data-based content better than humans
“Everything that is repetitive and based on data the machine can write better than the human.”
AX Semantics previously suffered 90% monthly customer churn
“We had in, in, in the darkest days and those were really dark days. We had like 90%.”
Morrell: Natural language generation companies cannot be bootstrapped
“The thing is you cannot bootstrap energy because you have to put in years of software development. And that's very, very difficult to do.”
AX Semantics sales reps do not carry individual competing quotas
“This is not how we built we, how we built our sales team. The sales team works as a team and not as sales reps who compete against each other.”
AX Semantics claims to be the only self-service NLG tool
“We are like the only natural language generation product out there that is reef for the rest of us. Everybody can just go there, have a trial, try it out.”
AX Semantics generates $200 in expansion for every $100 from new customers
“Now it's in, in total numbers, it's zero. So we hardly lose any customers and we have in, in growth numbers, we have a one to two relation ratio of growth. So for every hundred bucks that come in with new customers, we grow existing customers by 200 bucks.”
AX Semantics spends roughly €250k annually on paid ads
“I wouldn't know on a monthly basis, but I can tell you that it's a probably 250 K I'm talking euros. Yeah. So at 10, 15%. Yeah. 250 K a year.”
AX Semantics has an average monthly contract value of €761
“Well, we have an average sales price of 761. I know because I just calculated this two days ago. Because we're always looking on customer lifetime value that I was asking myself, how much do we get in the first year? So if you take the first year divided by 12…”
Users require two weeks to learn the AX Semantics software
“Because the software is, yeah, you have to learn it. There is less, you have to put in two weeks to learn how to use it.”
AX Semantics generates €3.5 million in annual revenue
“We are doing about three and a half million a year.”