010: How Maximizing Customer Lifetime Value Allowed Mark Thompson To Build a $20M SaaS Company Using The Internet

Entrepreneurs Tribe Podcast

English - December 24, 2019 18:00 - 42 minutes - 58.6 MB - ★★★★★ - 11 ratings
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Previous Episode: 009: Navigating the Unpredictable Journey From Entrepreneurship to Learning How To Learn: With Mike Yates of Alpha

Next Episode: 011: Zero to $20 Million in 4 years: How The Archimedes Group’s Ryan Narus Went From Selling Cars to Providing Affordable Housing for the Underprivileged in USA

Mark Thompson is the Co-Founder of PayKickstart (a popular shopping cart and affiliate management SaaS company). He has been an online entrepreneur for 12+ years, teaching and selling software/training to other marketers and online business owners.

As a leading SaaS company with a global network of vendors and affiliates, Mark got great at building a subscription-based business. However, it was more than just launching 12 to 14 software products that made him masterful in the digital world. He and his partner, Matt Callen, both figured out how to help other businesses sell well online too. They have processed collectively over $150M as a platform, did over $20M in revenue, and are set to break $1 million Annual Recurring Revenue (ARR) this year.

Mark was recently featured on Starter Story, The Next Web, and Business.com, as well as a number of mainstream podcasts like The Fighting Entrepreneur by Anik Singal and the $100 MBA show.

Discover What's Inside The BossCast Academy: http://bit.ly/bosscast-podcast

Key Takeaways:

- Mark’s early struggles of trading his time for money and how he got started in digital marketing and developing software products

- How PayKickstart was born out of necessity to replace archaic systems and maximize efficiency in his business

- Why more traffic or leads is not the answer to your problems

- Diagnostic tool to differentiate ROI-producing activities from tedious, non-ROI-producing ones and how to delegate or automate them

- Importance of a recurring model

- Providing more value while minimizing churn as the core tenet of longevity in business and retaining customers

- Facilitating the process of helping customers understand the full value of your products and services to retain them

- Differences between voluntary and involuntary churn and how to fix them

- 3 Main Questions to ask yourself why your business growth is stuck

- Pitfalls of being feature-happy versus emphasizing the perceived value