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JazzHR Customers Stay for Roughly 10 Years on Average
“To bring in a customer who's going to stay with us for 10 years-ish on average, it's more, with that, through that lens, it's more than worth the investment.”
Pete Lamson: JazzHR saw record customer job postings in July 2020
“In fact, we have had the most jobs posted, most new jobs posted with by Jazz HR's customers in the history of our company with just the past month in July.”
Buying Out Channel Rev Shares Caps Sales and Loses Partners
“Yes, mathematically that will work, and it'll look good in a spreadsheet, and yes, you will improve your gross margin short term. It's also a great way to limit sales. I mean, you know, because after a period of time, that partner can just switch to a competit…”
Pete Lamson: Buying out partner revenue shares limits long-term sales growth
“Yes, mathematically, that will work, and it'll look good in a spreadsheet, and yes, you will improve your gross margin short term. It's also a great way to limit sales. I mean, you know, because after a period of time, that partner can just switch to a competi…”
Lamson predicts JazzHR will hit 25,000 paid customers by 2020
“We have a lofty goal of getting to 25,000 paid customers by the end of twenty-twenty. We're at 3000 now.”
JazzHR Set an All-Time Record for Job Postings in July 2020
“In fact, we have had the most jobs posted, most new jobs posted with by Jazz HR's customers in the history of our company with just the past month in July.”
Indirect Channel Distribution Trades Gross Margins for Lower Upfront CAC
“For indirect, what typically happens if you do it well is your CAC will go down, but you're shifting that CAC to success driven revenue share. So it's a more efficient use of a cost of capital. So your CAC goes down, your gross margins go down too, because you…”
JazzHR Pays Referral Partner Revenue Shares in Perpetuity Without Caps
“As long as that, as long as their customers are paying us, we are paying them. We don't limit it after a 12 month period.”
Pete Lamson: Indirect sales lower CAC but compress gross margins and ARPU
“For indirect, what typically happens if you do it well is your cap will go down, but you're shifting that cap to success driven revenue shares. So it's a more efficient use of use of a cost of capital. So your CAC goes down, your gross margins go down, too, be…”
Pete Lamson: JazzHR pays its referral partners a perpetual revenue share
“If their customer chooses to purchase, then pay them a revenue share in perpetuity for the business. As long as that, as long as their customers are paying us, we are paying them. We don't limit it after a 12 month period.”
Pete Lamson: JazzHR operates at cash flow breakeven to reinvest in growth
“Now we run the business at cashflow breakeven. We could be cashflow positive if we chose to, but we plow everything we can back into the business to drive additional growth.”
Pete Lamson: JazzHR customers stay for roughly ten years on average
“Of a quota-carrying sales team to bring in a customer who's going to stay with us for 10 years-ish on average, it's more, with that, through that lens, it's more than worth the investment.”
Lamson: SaaS companies do not have a real business until customers renew
“You don't make money by selling somebody for one year, you can sell anybody, anything once, but you don't have a business until they renew. And so deriving that lifetime value is critical for SAS businesses.”
Lamson: Pushing unwanted features fails; accepting downgrades retains customers long-term
“We have to start with what's best for our customers and to jam them into things that they don't need. That is a losing strategy. And so number one is we want our customers to be on the right solution for their business. So what of our products do they need to …”
Lamson: Capturing existing demand outperforms creating demand in SMB marketing
“Any time, especially with a small business, you are tapping into existing demand versus creating demand. It's going to be more effective because it's, you're tapping into that mid funnel versus top of funnel.”
Lamson says the average JazzHR customer stays for nine years
“So our, the average customer stays with us for about nine years right now.”
$25 and $50 demo incentive gift cards yield identical results
“We have tested both 25 and 50 dollars. They both work the same.”
90% of US mid-market companies lack dedicated recruiting software
“90% of that market has no recruiting solution in place other than word docs and spreadsheets and email inbox management.”
JazzHR Pricing Starts at $39 With an Average Under $200 Monthly
“Our pricing starts as little as just 39 dollars a month, so you can get the ball rolling in an even more affordable way, but average is, like I said, a little under 200 per month.”
No Single Industry Vertical Exceeds 5% of JazzHR's Total Business
“But no one vertical within our business is more than five percent of our business.”
Indirect Channel Sales Generate Almost 50% of JazzHR's New Business
“We launched indirect sales or channel sales not long thereafter, and that today is almost 50% of our new business and growing.”
JazzHR Maintains a Sub-12-Month CAC Payback of Roughly $2,000
“So we are right now just under a 12 month kind of payback. So we're a little, just about 2000 dollars.”
JazzHR Reached Nearly 7,000 Customers and $1.4M MRR in 2020
“Yeah, I mean, we're just under 7000, but that's, your numbers are correct.”
JazzHR Runs at Cash Flow Breakeven to Reinvest in Growth
“No, we run the business at cash flow breakeven. We could be cash flow positive if we chose to, but we plow everything we can back into the business to drive additional growth.”
JazzHR Gross Churn Is 12% Annually; Net Churn Under 1% Monthly
“Our gross churn right now is still at about that 12% number. And our net is, or one percent per month, a little over one percent per month. And I mean, we're in the 1.2 generally. And then our net is when we, because of expansion revenue, which we define as bo…”
Pete Lamson: Channel sales drive nearly 50% of JazzHR's new business
“We launched indirect sales or channel sales not long thereafter, and that today is almost 50% of our new business and growing.”
Pete Lamson: JazzHR maintains a 12-month CAC payback on $2,000 CAC
“So we are right now just under a 12 month kind of payback. So we're a little, just about 2000 dollars.”
Pete Lamson: JazzHR has not raised capital beyond its prior $26.6 million
“We have not raised any additional capital.”
Pete Lamson: JazzHR maintains 12% annual gross churn and sub-1% net churn
“So for, on a gross basis our gross churn right now is still at about that 12% number. And our net is, or one percent per month, a little over one percent per month. And I mean, we're in the 1.2 generally. And then our net is when we, because of expansion reven…”
Lamson: JazzHR has over 3,500 paying customers
“We are, we have about north of 3500 paying customers, 4000 customers total now using the platform.”
Lamson: JazzHR raised $6.6 million in funding in October 2017
“We were able to successfully complete an additional funding round in October of 2017. So we raised 6.6 million at that point.”
Lamson: JazzHR customer lifetime value is just under $10,000
“So so our lifetime value right now is just under 10,000 dollars.”
Lamson: JazzHR spends approximately $100,000 monthly on paid media
“So off the top of my head, I can't tell you exactly, but I would say it would be about a 100,000 dollars a month.”
Lamson: JazzHR offers a 20% to 30% revenue share to partners
“It's a sliding scale depending on their own volumes, and it ranges between 20 and 30% depending on how much business they are driving.”
Lamson: JazzHR has just under $9 million in ARR
“We're just south of nine million. We're just south of nine million right now.”
Lamson: Channel partners generate 30% of JazzHR's new business
“That's now we're driving 30% of new business up from zero just over a year ago.”
Lamson: 80% of JazzHR new sales are annual or multi-year contracts
“Well, no, I'm sorry, 80% are total, like one, two, or three years.
of those that are on a contract, annual or more, about,
92% are one year.”
Lamson: JazzHR's LTV to CAC ratio is about 3.5
“We aspire to be north of three. We have just gotten there. A couple of quarters ago. And so right now we're about three and a half.”
Lamson: JazzHR's CAC payback period is just over 12 months
“Right now, we're just north of 12. It is coming down, but we're just north of 12.”
Lamson: JazzHR net new MRR grew over 600% in Q2 2017
“In Q two, it grew north of 600%. In Q three, we're growing at probably about 500%, maybe a little under that.”
Most Target SMBs Manage Recruiting via Microsoft Office Before JazzHR
“In our target market most customers are using some version of Microsoft Office, which is Excel Docs and Word documents and email inbox management.”
Pete Lamson: JazzHR averages just under $200 in monthly revenue per account
“So our account average is a little under 200 dollars per month.”