Last summer, we were beginning to explore the possibility of acquiring Churn Buster from Andrew Culver.
We saw a ton of potential in this SaaS app that helped software companies reduce churn, losing fewer customers due to failed payments.
What really piqued our interest was that Churn Buster was more than just software.
Andrew had built a process and the technology to have representatives call clients’ customers, helping them update billing information
This got us thinking, “How else could we leverage human power to solve churn problems?”
Fast-forward several months to November 2015…and Joelle, Ken, and I were the proud new owners of Churn Buster.
So what happened post-acquisition?
We Were in Uncharted Territory
The three of us have lots of experience growing SaaS companies, but we’d never acquired a company built by someone else before (we’d always built our own services). Building your own anything comes with attachments in various forms: from design, to business models, to engineering approaches.
With Churn Buster, we had zero attachments to its current form.
We were able to look at it objectively and spot flaws and exciting aspects just as our clients would see them.
We set out to discover the value, fix the flaws, hone our pitch, and learn about ourselves and how we work together.
Fast-forward three months, and Churn Buster was more stable, more secure, and feeling like home to us. We were ready to roll toward our bigger vision for Churn Buster…to build a SaaS that thrives with the injection of human hustle and emphasis on service.
Becoming a Service
We started looking for ways to roll up our sleeves and spot hidden revenue opportunities within clients’ accounts.
Anyone can wire up some emails to be sent to customers when their charges fail. That doesn’t excite us.
What does excite us is the potential recovery that’s exposed when a human steps in. It’s why we aren’t happy simply being an app.
We geek out on finding large past-due balances, customers who update their cards but never reactivate their subscription, customers who try to update their card but don’t succeed.
We’re also always on the hunt for the failure points in our own process. We feed lifecycle events into our team’s Slack account so we can monitor for (and catch) these failures in real-time.
What would have gone unnoticed a few weeks ago, now gets immediately detected by our team, and brought to our clients’ attention.
This isn’t a Pretty Process
We’re navigating an incredibly complex recovery funnel, that is currently monitoring millions of customers for failed payments.
Rolling out changes to that funnel is difficult, but so valuable!
A big part of our focus has been improving the internal engineering toolset so we can release updates several times a day without our clients (or their customers) noticing.
In addition, the transition to becoming a service is understandably difficult for existing clients to wrap their heads around.
Churn Buster was conceived as a self-serve web application, and we’re working to change that perception through our marketing site, our onboarding, our performance-based pricing, and our client experience.
What Does the Future Hold?
For many companies, up to half of their cancellations are due to credit card-related issues, and we’re now in a position to solve those problems better than anyone else, and change the trajectory of the companies we partner with. And we couldn’t be more excited to have this kind of positive, measurable impact.
What We Know
If you are a growing SaaS company, our team will help you scale in more than one way.
Nobody else knows what we know about churn, and we’ve yet to face a competitor or in-house system we can’t beat.
Join us on this journey - we’re looking for partners to grow with, and companies to help scale.