CrewPay Whatupdate No. 63
Hello, crew.
Team Accomplishments & News
- No updates
Product Accomplishments & News
- Product slides from Matt: Slides
Sales, Marketing & Customer Success Accomplishments & News
- Quiet week
Revenue & New Client
- 25 transactions last week (573 YTD)
- $41k sent last week ($926k YTD)
- 0 new companies, 1 new contractor
- 9 active companies (25 total)
- 53 active contractors (237 total)
- MRR $235 (+8% over last month)
- ARR: $2,820
- MRPC: $26.11
- Totals:
- WoW Contractor growth: +04%
- WoW Company growth: +.0%
Closing Thoughts
Last week I witnessed an exchange between a hair dresser and their client where the stylist came to the client’s house to give cuts to four people.
At the end, the client asked how to pay her. Here’s the exchange.
Client: “How would you like me to pay you? Do you take Apple Pay, Cash App, Venmo?” Stylist: “Um… Suuuure. I know about those apps but have never used them.”
Client: “Oh. Ok. I used Venmo recently and it’s pretty easy.” Stylist: “Ok.. Show me how to use it?”
Client and Stylist, no longer social distancing, tapping on phones. Now, verifying emails and having to hook up bank account later.
Minutes later they part ways.
Here’s how that exchange will go in the near future.
Client: “How would you like me to pay you?” Stylist: “I’ll send you a text, you can CrewPay me.”
Stylist sends text. Client taps link and enters in card and clicks send, and save for future payments.
Little do we know now, but next week the client will need to pay her cleaning person, babysitter, and a contract photographer for her business. Because she has a CrewPay account, her info is already hooked up and it’s as easy as tapping send or replying “yes” to a text message (her cleaning person, babysitter, and photographer all use CrewPay).
Client: “That was easy.” Stylist: “Thank you!”
The stylist sees the money instantly in her CrewPay account with tax calculations and automatic withholdings already figured. She sees her safe to spend amount is $223 higher than before the appointment. So too is her rewards balance, almost high enough to redeem for the vacation she’s been planning for — since she receives points for every payment received or debit spent out of her CrewPay account.
Stylist: “Have a great day!”
Have a great week.
Ever, David