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Baremetrics for Buffer

buffer.baremetrics.io

51–57 of 57 posts

Re: Baremetrics for Buffer

#53
Thank you guys for sharing this.

I noticed 30,000 failed charges in one year. I'm not sure if that's interactive failures, as in users actively trying to complete a transaction, which is much less important than the recurring failed charges, as in money you thought you were going to get but didn't, for no other reason than the payment network.

I hate seeing those failed charge notifications that go out every morning when you try to bill that day's batch for the next month of service. And then wondering how much that's pushing up your churn rate, how much effort should you spend trying to get updated billing info, etc. Buffer is mostly $10/mo, so I would imagine not much chasing is going on beyond a few automated emails... but it's enough to make you want to switch to ACH!

Does Stripe handle auto-updating credit card details when a card expires like some companies seem to be able to do? With the massive leaks lately, and so many card numbers getting cycled, it definitely hits the bottom line.

Re: Baremetrics for Buffer

#54
post #53

Thank you guys for sharing this. I noticed 30,000 failed charges in one year. I'm not sure if that's interactive failures, as in users actively trying to complete a transaction, which is much less important than the recurring failed charges, as in money you thought you were going to get but didn't, for no other reason than the payment network. I hate seeing those failed charge notifications that go out every morning…

I don't think Stripe auto-updates. There's a service called Churnbuster whose sole purpose is to deal with this issue: http://churnbuster.io/

Re: Baremetrics for Buffer

#55
post #54
post #53

Thank you guys for sharing this. I noticed 30,000 failed charges in one year. I'm not sure if that's interactive failures, as in users actively trying to complete a transaction, which is much less important than the recurring failed charges, as in money you thought you were going to get but didn't, for no other reason than the payment network. I hate seeing those failed charge notifications that go out every morning…

I don't think Stripe auto-updates. There's a service called Churnbuster whose sole purpose is to deal with this issue: http://churnbuster.io/

Interesting service. Attacking the problem by trying to optimize within the constraints of the current system.

It's a problem you wish you could eliminate instead of just trying to optimize around.

Re: Baremetrics for Buffer

#56

I would gladly pay for this dashboard if it were an installable product, but there's no way I would ever share our vital financial stats with some random company in exchange for pretty graphs. This is just so out there, it's beyond any discussion. If you are reading this, Baremetrics guys, do consider making an installable version, e.g. in a form of a VM appliance. Feel free to charge monthly, but it should be in a f…

Thanks for the feedback! Sounds like Baremetrics might not be the right product for you. :)

Buffer is an exception. Their openness is a part of their marketing strategy in tech circles.

I am genuinely curious whom you think Baremetrics is a right product for. Excluding companies run by your friends and acquaintances, who either trust you implicitly or just want to be supportive.

Re: Baremetrics for Buffer

#57

Earlier quoted context omitted.

Thanks for the feedback! Sounds like Baremetrics might not be the right product for you. :)

Buffer is an exception. Their openness is a part of their marketing strategy in tech circles. I am genuinely curious whom you think Baremetrics is a right product for. Excluding companies run by your friends and acquaintances, who either trust you implicitly or just want to be supportive.

Buffer really isn't the exception. They're an exception in that they've made all their data public, but my experience on both sides of the fence as someone who both runs Stripe Connect services and also manages the technology for companies who use Stripe Connect services tells me that most companies are not concerned about sharing their financials with trusted parties in exchange for a major operational benefits, whether that's analytics and reporting or automation of customer service operations.

As a Stripe Connect service operator (at http://churnbuster.io/) I've only once had someone in the onboarding process express any concern that all their financials would be available to our service, and in that case they were a developer who wanted to double check with their CEO that it was OK, which it was.

Your question really isn't for Josh, it's for Stripe with regard to the entire Stripe Connect ecosystem. Sure, some people may be really concerned about sharing financial information with a third-party service, and that's totally fine, but I'm pretty sure they're the ones missing out. Speaking now as a technology consultant, I can say that the ability to plug-and-play all sorts of different and very valuable third-party services is allowing the rest of us to build businesses in record time with minimal investment and part-time resources.

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