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Our First $37,800 in Annual Recurring Revenue

churnbuster.io

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Re: Our First $37,800 in Annual Recurring Revenue

#31

Post by koa »

danbruc wrote: post #22

Well, if the customer with the expired payment information is still using and valuing the service, he will soon realize that he needs to update his payment information without any outside intervention or he will lose access to the service. If the user no longer cares about the service and just forgot to cancel or was to lazy to do so, why not just let him go instead of continuing to sell him something he does no long…

Some apps are like that.

There was this analytics tool called get.gaug.es that i really liked looking at for $6/month. In addition to my existing mission critical analytics apps like mixpanel and google analytics.

I would never have cancelled guag.es but since my credit card switched, i just didn't like it enough to be bothered to update it. A phone call is probably the only thing that would have gotten me to update it. Probably not, but it increases the odds from 0% to greater than 0%

Re: Our First $37,800 in Annual Recurring Revenue

#33

Post by jonathanwallace »

jacquesm wrote: post #5

Hey Andrew, this is a super nice product and you're doing an awesome job in the perseverance department. Unfortunately for you I'm not a stripe customer or I would have happily signed up. That $4K per month is definitely happening and after that who knows how far you can push this. Have you considered teaming up with Stripe? They're nice guys and it looks as if you contribute considerable value to their product.

It sounds like you may be interested in https://www.fundinggates.com/ then.

Full disclosure: I worked on this project (as a consultant) when it was just getting off the ground.

Re: Our First $37,800 in Annual Recurring Revenue

#34

Post by lem72 »

aculver wrote: post #7
stanmancan wrote: post #6

There's no pricing information, and no link to pricing information available on the home page. I had to click "Free Trial" before there was a nav bar at the top I could click on. With that being said, I love the idea of the product as it's a pain point for me. Unfortunately, I only have a handful of customers, so even the $20/m doesn't really make sense. It would be great to see a free plan for "up to" X customers, o…

Thanks for the feedback and sorry about the missing pricing link on the homepage. Definitely overdue to revamp the navigation and put a pricing link right up top there. I'll definitely chew on that free plan idea a bit.

I am sure this is what you are already thinking, but I wouldn't spend to much worrying about a free plan.

We made this mistake on our last startup, we got a ton of feedback saying, oh it's too expensive, I'd never use it.. make something cheaper/free.

The truth is... until those businesses are making more money that justifies $20 a month, you probably don't want them as customers... they will take up a TON of time, with adding little to no value and will have no problem jumping ship when you say, hey, you reached the size you said you were interested in paying $20 and we would like you to upgrade.

People want the world... focus on customers that find $20/month to be a huge value to them.

Re: Our First $37,800 in Annual Recurring Revenue

#35

Post by rgbrenner »

itengelhardt wrote: post #26
danbruc wrote: post #22

Well, if the customer with the expired payment information is still using and valuing the service, he will soon realize that he needs to update his payment information without any outside intervention or he will lose access to the service. If the user no longer cares about the service and just forgot to cancel or was to lazy to do so, why not just let him go instead of continuing to sell him something he does no long…

Because that is not how people work. We forget things. Today I got a reminder that one of my hosting accounts expired. I happily put down the $90 for the account and even sent an email to my contact there, because loosing that account would be a major headache for me. I need that account, I just didn't remember to update my CC

Same here.. Once let our DNS provider subscription lapse (yearly renewal). Luckily discovered it about a week before the grace period ended.

Re: Our First $37,800 in Annual Recurring Revenue

#37

Post by lxmorj »

baudehlo wrote: post #14
stanmancan wrote: post #6

There's no pricing information, and no link to pricing information available on the home page. I had to click "Free Trial" before there was a nav bar at the top I could click on. With that being said, I love the idea of the product as it's a pain point for me. Unfortunately, I only have a handful of customers, so even the $20/m doesn't really make sense. It would be great to see a free plan for "up to" X customers, o…

I have 100 paying customers and this wouldn't make sense for me either - $20 a month is a significant chunk for that many customers and low subscription prices (I charge $3 a month).

Interesting. I wonder if total recurring revenue is a better pricing gauge for something like this? What's your product?

Re: Our First $37,800 in Annual Recurring Revenue

#38

Post by icelancer »

lem72 wrote: post #34
aculver wrote: post #7

Earlier quoted context omitted.

Thanks for the feedback and sorry about the missing pricing link on the homepage. Definitely overdue to revamp the navigation and put a pricing link right up top there. I'll definitely chew on that free plan idea a bit.

I am sure this is what you are already thinking, but I wouldn't spend to much worrying about a free plan. We made this mistake on our last startup, we got a ton of feedback saying, oh it's too expensive, I'd never use it.. make something cheaper/free. The truth is... until those businesses are making more money that justifies $20 a month, you probably don't want them as customers... they will take up a TON of time, w…

In my case, I just want a free tier that is incredibly low (10 customers is fine) that won't cannibalize his main products, because I want to test his services. Yes, there's a free trial, but I don't plan on rolling out major client work for 4-6 months. In that timeframe, he can have me as a subscribed customer (paying nothing) but I've already gone through all the hurdles, and he can send me monthly "Hey, you ready?" emails.

Right now I have to trust myself that I'll remember this service in six months with all the other stuff that goes on in running a startup. If I DO remember, I will pay $20-100/month easily and will save thousands. But I also have to remember that about 300 other things, too.

EDIT: Maybe a mailing list would be helpful, too.

Re: Our First $37,800 in Annual Recurring Revenue

#39

Post by aculver »

baudehlo wrote: post #16
aculver wrote: post #12

Earlier quoted context omitted.

Thanks! So, we've benefited a lot from word-of-mouth thus far. For example, we've received referrals from friends running Baremetrics ( http://baremetrics.io ), HookFeed ( http://hookfeed.io ), and FirstOfficer ( https://www.firstofficer.io ) because Churn Buster is a logical progression for customers of those products who are now more aware of how much they're losing to failed payments. Our customers themselves also…

Small suggestion - people who have done payments before know this process is called dunning, which you don't mention at all on your site - that's going to affect your SEO potential when I'm looking for a solution to this (which almost always takes me straight to your competitor: bestunning).

Thanks for this feedback. I'll make a point to do something about it. :-)

Re: Our First $37,800 in Annual Recurring Revenue

#40

Post by citadelgrad »

danbruc wrote: post #22

Well, if the customer with the expired payment information is still using and valuing the service, he will soon realize that he needs to update his payment information without any outside intervention or he will lose access to the service. If the user no longer cares about the service and just forgot to cancel or was to lazy to do so, why not just let him go instead of continuing to sell him something he does no long…

We have no less that 60 different web services that we use in our business. The last thing I need to have happen is for one of my apps to stop working. Send me an email and tell me somethings wrong.
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