How to Create Sticky Customers

Read Show Notes

In 1998, Lori Morton founded AerieHub, a customizable mobile app that helps facility managers efficiently control building information and operations, including compliance records, blueprints, and employee training.

Morton onboarded industry giants such as Netflix, Michelin Tires, GE, Bosch, and others reaching over $1 million in annual recurring revenue. Thanks to a rigorous onboarding process and exceptional customer service, Morton lost only two clients in 24 years.

In 2022, JDM Technology Group acquired AerieHub in a lucrative 100% cash upfront deal. In this episode, you’ll learn how to:

• Create sticky customers that never leave.
• Use strategic partnerships to grow your business.
• Sell to industry giants.
• Position your company to be desirable to an acquirer.
• Choose an acquirer that best aligns with your core value.

 

Check out our article on Saying Goodbye To A Golden Goose.

Check out our full M&A Glossary

Show Notes & Links

Lori’s Video

Official Press Release

The E-Myth

The Myth of Multitasking

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Definitions

Letter of Intent (LOI): A letter of intent (LOI) is a document declaring the preliminary commitment of one party to do business with another. The letter outlines the chief terms of a prospective deal. Commonly used in major business transactions, LOIs are similar in content to term sheets. One major difference between the two, though, is that LOIs are presented in letter formats, while term sheets are listicle in nature.

Source: https://bit.ly/3ppDnr3

Earn-out: Earnout or earn-out refers to a pricing structure in mergers and acquisitions where the sellers must “earn” part of the purchase price based on the performance of the business following the acquisition.

Source: https://en.wikipedia.org/wiki/Earnout

Due-Diligence: Due diligence is an investigation, audit, or review performed to confirm facts or details of a matter under consideration. In the financial world, due diligence requires an examination of financial records before entering into a proposed transaction with another party.

Source: https://bit.ly/3yYDfo5

Churn: Churn is a measurement of the percentage of accounts that cancel or choose not to renew their subscriptions. A high churn rate can negatively impact Monthly Recurring Revenue (MRR) and can also indicate dissatisfaction with a product or service.

Churn is the measure of how many customers stop using a product. This can be measured based on actual usage or failure to renew (when the product is sold using a subscription model). Often evaluated for a specific period of time, there can be a monthly, quarterly, or annual churn rate.

Source: https://bit.ly/3nw3DPi

 

About Our Guest

Lori Morton

Lori Morton has a background in Machine Design, Maintenance Management, Project Management, Technical Writing, and Knowledge Management. Her expertise lies in Knowledge Capture, which has become her current specialty. As the leader of the initiative at Aerie Engineering, Lori is spearheading the effort to conduct Knowledge Capture sessions with crucial employees who are approaching retirement age. The objective is to preserve and retain the invaluable institutional knowledge held by these individuals. Referred to as “Capturing the Years Between the Ears,” this endeavor presents Lori with both challenging and captivating work.

 

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