The Ledger
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Patrick Stiles says SaaS combines physical product value with digital scale
“So SAS is just, you know, it's way more scalable. It has the perceived value of a physical product, but at the end of the day, it's basically an info product. It's intellectual property on a server and it doesn't have those compliance issues.”
Vidalytics killed its freemium tier in favor of 14-day trials
“Well, we killed our free plans and nothing. So all they can get right now is a two week trial without paying.”
Patrick Stiles found pure video analytics lacked stickiness for internet marketers
“Some of the people that found us and really liked us were geeky and really kind of data inclined, but for the market that we wanted to go after, which was, you know, internet marketers we found that it wasn't quite kind of sticky enough to get that traction.”
Vidalytics pays up to 40% lifetime recurring commissions to affiliate partners
“It can be 40% reoccurring for life in some cases.”
Vidalytics customers pay an average of $100 per month
“Well, our average is a hundred bucks a month, but it can go up to a thousand for some of our users.”
Vidalytics generates approximately $10,000 in monthly recurring revenue
“So it's going to be around that 10 mark.”
Patrick Stiles avoids building an enterprise sales team for lifestyle reasons
“For me, for my personality, I don't want to build a business where I have to build a sales team, at least not right now. So it's more of kind of like a lifestyle thing.”
Vidalytics targets a three-month payback period on customer acquisition costs
“We target about a three month payback if possible.”
Vidalytics estimates its customer lifetime value at over $1,000
“It's going to be north of a gram, but you know, it's also a bit speculative and not the most useful metric.”
VCs offered Vidalytics a SAFE note at a $3 million valuation cap
“I've had several venture capitalists say that we could do like a safe note at a three million cap.”
Patrick Stiles calls self-liquidating offers the sexiest strategy in marketing
“Self liquidating offer is the sexiest thing in marketing. It's where you're acquiring customers and your day one money is covering acquisition costs.”
Vidalytics settled on five team members after cycling through 20 contractors
“So the team size is five. Two of those people are contractors at our, we've, but we've hired and fired the 20 people to build this product.”