The Ledger
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Gordy: Blackbaud locks nonprofit customers into one- to four-year contracts
“Then they might be under a one, two, three, four year contract due to some of our competitors like BlackBaud that have really held people in for long-term contracts and really kind of got their nails in.”
NeonCRM projected $8 million in 2018 revenue, up from $6 million
“Last year we closed up around six million. This year we should close up around eight million.”
Gordy: Bootstrapping allowed NeonCRM to undercut competitor pricing with more features
“We were, we basically came into the market being able to offer more than our competitors were able to offer, but at a lower price because we were bootstrapped and didn't have any capital, didn't have any debt to pay.”
Gordy: NeonCRM traded two US developer salaries for six senior Chengdu engineers
“So what we ended up doing is taking those two salaries and opening an office in Chengdu, China. And we were able to legally open an office and hire six developers with over 10 years of experience with those two salaries.”
Jeff Gordy hired a CMO with a higher salary than his own
“I just hired a CMO this year that I actually offered a salary that was higher than myself to bring him on board as an entrepreneur would do who knows his money.”
Gordy: NeonCRM average customer pays slightly under $200 per month
“So the average customer is paying us about a little under 200 dollars.”
Gordy: NeonCRM has around 1% annual net revenue churn
“So right now we're actually right above, like, a little bit of churn, around one point something percent.”
Gordy: NeonCRM experiences roughly 6% annual gross revenue churn
“I believe yeah, that's around six percent.”
Gordy: NeonCRM customer acquisition cost is around $1,100
“So right now our customer acquisition cost is around about 1100 dollars.”