VEED launched in 2018 and quickly hit its stride. After just four years, they acquired tens of thousands of subscribers—generated over $7 million in annual revenue—and raised $35 million from Sequoia. TechRadar hailed VEED as “an excellent selection of well-designed tools” and Max Alter, Director of Audience Development at NBC, called VEED “game changing”.
Alongside subscriber growth, the company built a robust community and product, but its success, like all SaaS companies, was contingent on customers sticking around. Churn was quickly becoming an issue and John Hamilton, Principal Product Manager, had to figure out how to tackle it. “Despite our progress, as we all know, success isn’t a place, it’s a matter of endurance. We had to figure out how to maintain everything we’d built,” says John.
Buildertrend is a customer-first SaaS juggernaut, now having served over one million customers, tracked over two million projects, and has a presence in over 100 countries. From mobile scanning receipts and documents, customer portals, progress reports, to-do lists, financial management tools, and even an in-person training course on how to use the platform (Buildertrend University), they’ve evolved into an all-in-one solution for running a better construction business.
As the product’s surface area grew, Buildertrend’s data-centric approach started overwhelming their support team. Customers moving through their homegrown cancellation process produced feedback that lacked data uniformity. The team needed actionable data analysis to make better product decisions. Taking a pragmatic approach to churn, Buildertrend knew they couldn’t just go hire a floor of people to wade through the mountains of data; they needed a solution that would work smarter, not harder, for their needs.
“ Our products serve a ferocious crowd of creators who demand the best tools and cutting-edge technology. With Churnkey’s cancel flows and payment recoveries, we improved them greatly thanks to feedback received through the platform. ”
In 2020, Amit Gupta and James Yu co-founded Sudowrite, the “non-judgmental, always-there-to-read-one-more-draft, never-runs-out-of-ideas-even-at-3am, AI writing partner you always wanted.” Sudowrite quickly found product-market fit with writers captivated by AI’s potential but wanting a writing tool crafted specifically for fiction. “Sudowrite can help unblock you, give you ideas. It can help you deep in the editing process and help you bring your stories to life,” said Gupta.
Sudowrite has been called “scary good” by author Hugh Howey, a “salvation” by Stephen Marche (The New Yorker), and has been covered by The Atlantic, WIRED, The New York Times, and other major press outlets.
The “scary good” product grew its customer base scary fast thanks to impressive coverage and positive reviews. That made onboarding the influx of customers, learning from their needs, and shipping product improvements a monumental task. On top of that, such impressive growth brought cancellations and failed payments, making retention an initiative that someone needed to own.
“ Because of Churnkey, our marketing team was able to design the best exit funnel that increases LTV, reduces churn, and gives us the right insights to reactivate users. ”
Honestly, Churnkey is easily worth the cost for its cancellation feedback alone. We've been able to gain so much insight into why users want to cancel so we can add features or fix issues.
When customers cancelled their OneUp accounts, Baer had no easy way to determine why that customer left. So he and his partner created automatic email campaigns that asked churning customers why they cancelled. But this email had very low response rates and the project had a low return on its investment.
OneUp decided to jettison its in-house feedback collection system and chose to implement Churnkey’s cancellation and customer insights survey. Because the survey happens at the moment of cancellation — and responses can be required — every cancellation becomes its own story, not just a vague data point.
Armed with cancellation feedback that OneUp’s user interface design appears outdated — and that trialing customers were cancelling specifically because of it — Baer and his partners realized that they needed to reprioritize a user interface update. Now, they’re about to launch a fresh UI. With it, they hope to increase free trial conversions.
“Without Churnkey,” Baer said, “I am pretty certain that [the UI update] was something we would have continued to put off again and again because we wouldn't have realized that our user interface was causing the cancellations.”
“ I have been astounded by the customer service Churnkey has provided us...the team has built and delivered on every promise made and this will be a complete game changer for our business. 10/10 recommend. ”
Being a startup founder means knowing what to delegate and when. Churnkey automatically supports our customers when their payments fail. Better yet, it pays for itself.
Zubtitle mainly serves video creators that are creating content for social media. Because they commonly batch their video content by recording in bulk and releasing over time, there were often periods where users needed to pause their account in between these “batched” work sessions. The team built a custom cancellation flow where users could enter a reason for cancelling. Unfortunately, this method provided inconsistent data and it was difficult to report on given that it was just stored in the database.
Not only did Zubtitle need a more reliable way to offer subscription pauses to its customers—it was an in-house solution susceptible to API changes—but the company also needed clean, accessible, and accurate data from cancelling customers. Turning to Churnkey, Zubtitle immediately saw churn drop with an array of offboarding offers: subscription pauses, discounts, so-called “hidden” plans, and funnels into customer support teams.
Because Zubtitle was able to offload these features to a reliable partner, they were able to focus on growth and optimizing their offboarding offers, lowering churn from ~10% to 7.2%. Almost a quarter of customers who would have cancelled have remained on as customers.
“ No founder wants to think about failed payments or has the time to deal with them. Churnkey stepped up and did it for us — setting us up quickly and optimizing everything — so we could focus on what we love to do: ship fast and grow faster. ”
We’ll take you on a quick, friendly, no-pressure walkthrough of what we do. And you’ll see why so many companies are graduating to Churnkey to boost revenue, recover failed payments, make customers happier.Chat With Us