Editor’s Note: Sponsored by Monday Properties and written by ARLnow.com, Startup Monday is a weekly column that profiles Arlington-based startups and their founders, plus other local technology happenings. The Ground Floor, Monday’s office space for young companies in Rosslyn, is now open. The Metro-accessible space features a 5,000-square-foot common area that includes a kitchen, lounge area, collaborative meeting spaces, and a stage for formal presentations.
Companies offering music, software, movies and even food increasingly are moving toward subscription models. And many of those businesses harbor one lofty goal: zero churn.
Churn happens when a customer decides to no longer subscribe to a product or service. The customer must then be replaced with a new one. Due to the costs of customer acquisition, high churn can kill an otherwise promising young business.
“Fighting churn is especially important for subscription businesses because they have to continuously keep the customer happy or else they will simply cancel and move on,” said You Mon Tsang, co-founder of Arlington-based ChurnZero.
As an entrepreneur and early pioneer in software-as-a-service (SaaS), Tsang has first-hand experience with the financial impact of churn on a subscription-based business.
“In the past, software would be bought all for one price, paid at once, and owned forever,” he said, adding, “Moving to the subscription meant less money upfront and more consistent revenue over time, but only if the customer is happy and stays with you.
“Churn was a critical business imperative in every business I’ve been a part of, but — surprisingly — there was little technology to help companies understand the health of their customer base.”
That’s where ChurnZero comes in.
Tsang and co-founder Mark Heys built a software prototype and got feedback from more than a dozen companies that were potential customers.
“We got great feedback on the prototype. But, more importantly, they all said this was a real and unsolved problem,” Tsang said. “That gave us the confidence to risk our time, energy and money on creating a business.”
Unlike other companies in this new field, Tsang said ChurnZero does more than just collecting data and creating reports on customers.
“At ChurnZero, we feel that data is important but not enough. Our solution combines data, task automation and communication and is one of the most comprehensive platforms in the industry,” Tsang said.
ChurnZero’s software enables businesses to understand how customers use a product, assess customers’ likelihood to renew, and personalize the customer experience.
Using ChurnZero’s services, businesses can better engage with their customers, sell more subscriptions and fight churn. The company offers analytics, personalized and automated customer interfaces, and timely alerts about customers–including those who are “power users” and those who are disengaged.
In addition to ChurnZero’s main services, the company’s blog, “Fighting Churn,” cranks out advice and resources to help account managers and executives retain customers. The site recently was named one of the Top 50 Customer Churn Resources by NGData.
Tsang and Heys chose Arlington as ChurnZero’s headquarters because of its attractive location to the nation’s top talent.
“It’s proximity to [Washington, D.C.] and public transportation, as well as the reasonable commute from the towns outside the beltway, means we have access to people fresh-out-of-college or with decades of experience,” Tsang said.
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Arlington and its neighbors have become more segregated in the last 10 years while fair housing legislation at the state level faces significant roadblocks. Arlington’s fair housing enforcement, education, and commitment to equity practices in housing policy and programs are beginning to show signs of improvement but much more needs to be done.
Join the NAACP Arlington Branch, HOME of Virginia, and Equal Rights Center for the 2nd Annual Arlington Fair Housing Conference on April 15th to discuss the threats and opportunities to advancing fair housing policy across the state and within Arlington.
The half-day, in-person event will feature speakers from fair housing advocacy organizations and government agencies including the U.S. Department of Housing and Urban Development, and focus on fair housing policy trends in Virginia and Arlington County. The conference aims to advance the understanding of issues and policies related to equity and affirmatively further fair housing among local officials, advocates, and members of the public.
2nd Annual Arlington Fair Housing Conference
Is home ownership a goal of yours in 2023? Now is the time to make it happen! Grab a (virtual) drink with the area’s top Real Estate experts, learn all about the home buying process and on how you can get $1,500 towards your closing costs immediately!
Did you know the average Arlington renter will spend $150K in 5 years of renting? Stop paying down someone else’s mortgage! Join us for a Rent vs. Buy Happy Hour on Wednesday, April 5th at 6 p.m. via Zoom. If this time doesn’t work, we also are offering times convenient for your schedule!
A lot has happened in the local market since the beginning of the pandemic. Sip on your drink of choice and learn from Northern Virginia, Arlington and Washingtonian Magazines top producing agents! We will discuss the latest market updates, the home buying process and rent vs. buy cost savings. Please RSVP by clicking here.
Call/text Manavi at 703-869-6698 with any questions!
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Congressional School to Host MONA Private School Fair Thursday, April 27 at 6:30 PM
Congressional School in Falls Church, VA is delighted to host the MONA (Mothers of North Arlington) at an upcoming Private School Fair. Private schools from around
WHS Spring Festival
Join us at the WHS Spring Festival on April 22, 2023, from 10am- 3pm at Wakefield High School(main parking lot). Come out to shop, play, and eat!
Shop local vendors, arts & crafts, new and used items, food vendors/trucks, and