The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
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Coppinger: Teamwork Switched Self-Service to Per-Seat to Stop Losing Prospects
“And what we've just done last month is we've changed all our self-service pricing tiers to the per seed model. And the reason we've done that is for a couple of reasons. It's First of all, we weren't capturing enough value from the mid market. The second thing…”
Coppinger: Teamwork's enterprise churn is near 0% after 18 months
“And then for the enterprise guys, we've actually in the history of enterprise in the year and a half of doing enterprise, we've only lost one enterprise customer. So our churn for enterprise is pretty close to zero percent.”
Coppinger: Teamwork.com is grandfathering legacy pricing for three years
“What we've done for our existing customers is we've chosen to grandfather them for three years, which is pretty unheard of in the industry, and then we're going to look after those guys as they transition from the old model over to the per seat model.”
Coppinger: Software directory listings currently outperform Google AdWords for Teamwork
“Getting listed on certain websites is working better for us than Google AdWords. So we're slowly doubling our how much money we're putting into those.”
Coppinger: Dedicated competitor data importers are a major growth driver
“One of the biggest things we do is we break down the barriers that stop people moving over from our competitors. So we aggressively make importers for all our competitors and we have a whole team on this and they maintain those importers and they make sure the…”
Coppinger: Teamwork won't consider exits or IPOs before hitting $100M ARR
“We have this kind of vision company that myself and Dan, my co-founder, we're not going to even stop and consider acquisitions, IPOs, anything, until we hit the hundred million dollar AR mark.”
Coppinger: Teamwork Hit $30k MRR in 2010 Before Going Full-Time
“Three years of working on the product kind of every Friday and all weekends until we got it to about 30,000 MRR. And at that point.
Nathan Latka: So that was, just to be clear, that was 2010?
Peter Coppinger: About 2010, yeah.
Nathan Latka: Okay.
Peter Copping…”
Coppinger: Teamwork maintains an overall 8:1 LTV to CAC ratio
“Google AdWords has been a very mixed bag for us. We, we've got up to about a 30,000 monthly spend with Google AdWords with mixed success. We have a CAC to LTV ratio there of about three to one, but our overall CAC to LTV ratio across all our marketing efforts …”
Coppinger: Teamwork's fully loaded customer acquisition cost is roughly $360
“Roughly to acquire a customer, excluding wages and stuff is about a 114 dollars, including wages and so on. We're at about, I think, 360 dollars is what we worked out.”