1481 Don't lie to yourself. "Free Users" are not "Customers"

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6 • 683 Ratings

🗓️ 14 August 2019

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Christian Schmidt has been CEO of CleverReach® since summer 2015. Together with Jens Klibingat and Konrad Frerichs, he manages the international email marketing company with more than 200,000 customers in 152 countries.

Schmidt graduated in New Media Design and Communication at the Mediadesign Hochschule Düsseldorf. He began his professional career at the ZEFA picture agency, which was later taken over by Corbis. Further professional stations include Image Source in London and the Masterfile European Headquarters in Düsseldorf. Schmidt most recently worked as Managing Director at Friesland Versand GmbH.

Transcript

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0:00.0	My new book is out How to Be a Capitalist without any capital. It hit the Wall Street Journal
0:05.1	bestsellers list and I just wanted to say thank you. I hope you get it at capitalistbook.com.
0:11.9	Here's what user Jay Eggleston said in an Amazon review. Warning, this book is addicting.
0:17.0	Is Nathan the new Tim Ferriss? He said, I met Nathan during my college days when he was still CEO of Hale.
0:22.3	I knew he was inspiration since the day I met him.
0:24.8	The book is totally a Nathan Ladka original, and this is the new four-hour work week.
0:29.0	Warning, though, it is addicting.
0:30.6	I'm not sure how long I've been reading it now, and the only thing that is making me from put it down is the dreaded workday tomorrow.
0:35.8	Six people found that helpful. Get the book today at Capitalistbook.com.
0:40.9	Clever reach.
0:42.4	They've got less, they've got 200,000 free and paid users.
0:46.6	They have some amount less that are actually paying.
0:48.9	The ones that are paying pay between 500 bucks per month and $2,000 per month.
0:53.5	They're growing about 25% year-over-year.
0:55.9	70-year to 80% of that growth is coming from new customers. The rest is expansion from older
1:00.1	cohorts. Christian joined the company in 2015. It was founded in 2007. Today, they're about
1:07.2	50 people, 50 people, and remote locations, spending up to 12 months of first-year ACV to acquire the customer.
1:14.8	So $6,000, 12-month payback period.
1:18.0	This is the top entrepreneurs podcast where founders share how they started their companies and got filthy rich or crash and burn.
1:28.3	Each episode features revenue numbers, customer counts, and other insider information that creates business news headlines.
1:38.3	We went from a couple of hundred thousand dollars to $2.7 million.
1:41.3	I had no money when I started the company.
	...

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