ProfitWell

Hey everyone - PC here from ProfitWell. Pumped to launch Term Optimization today, especially since it's boosting retention automatically for subscription companies by 15% or more by just plugging it into your billing system (Stripe, Recurly, etc) Here's how this product came to be - our whole mission is to automate revenue for subscription companies, so we're always looking for features and products that alllow you to just plug in and instantly boost revenue. As we were digging into the data from the 24k+ subscription companies using ProfitWell for the next area to automate, we discovered that quarterly and annual customers had *significantly* better retention and lifetime value than monthly customers. Sounds like a cool opportunity, right? Well, over 9 out of 10 subscription/SaaS companies are only asking customers to be on a longer term plan at the initial sign up - ie. when the user hadn't seen the value yet. Ok, so how do we solve this? We could all just bluntly send drip campaigns en masse to our user bases every XX days. Yet, this turns into a poor user experience and we found through testing that the offer, message, sending trigger (# of logins, post UX event, etc), and profile of the customer greatly increased the chances of an upgrade or on the flip side increases the chance of frustrating the user to the point of cancellation. Enter stage left: data and some cool algorithms. We developed models based on data from the entire PW userbase, as well as at each individual account level that allows us to trigger the right message with the right offer through the right medium (SMS, email, in-app) at the right time. Coupled with our testing framework, it improves over time. Throw in a 2-click experience for your end customer that doesn't require them to login to upgrade and you also have a phenomenal experience. The results we really care about: - Better retention and lifetime value through more users on longer term plans. - More cashflow, because these users pay upfront We also made it easy to just hook up and go, so no configuration or ongoing work required. Plugs right into Stripe, Braintree, Zuora, Recurly, Recharge, Chargify, and Chargebee. Happy to answer any questions below on this, but hope the baseline story was helpful. Can get you hooked up with a demo at patrick@profitwell.com, as well.