When you put a product out into the world, it’s hard to know exactly how effective it is. While we get lots of positive feedback for Content Snare, this doesn’t give us actual numbers to demonstrate how much time it saves companies.
To get answers, we asked Content Snare customers about how much time they spend chasing after clients to collect information or documents, and how much financial impact this has on their business. 1 in 10 replied, giving us a good measure of how Content Snare fares across a range of businesses.
What follows are charts, statistics and customer quotes that reveal how much time, money and stress that Content Snare customers have saved since taking up a plan.
71% less time gathering information
The first and most important question: How much time does Content Snare save?
We asked people how much time they spent on these two tasks:
- Chasing clients – The time spent sending emails, making phone calls, joining meetings, or showing up to your clients office with a baseball bat*
- Collating and organizing information – Time spent digging through previous communication to put everything together.
* Final option not recommended
The time spent chasing clients is obvious. But we tend to forget about the time spent putting it all together. Consider how much time is spent doing things like:
- Digging through emails looking for attachments
- Searching for something you know was written in an email months ago
- Scanning Dropbox folders to make sure every document you need is there
- Ticking items off in spreadsheets or lists
It adds up.
Before using Content Snare, companies reported spending 25 hours each month gathering information.
With Content Snare they were able to reduce this to 5.1 hours.
Actual numbers ranged between 3 and 325 hours per month, because of the wide variety of company sizes that use Content Snare. Across the board, they reported a reduction of 71%
The graph above demonstrates a significant drop in the time spent collating & organizing. This is an obvious benefit of Content Snare, as once everything is collected, it’s all there in one place.
77% reduction in costs
For a service-based business, the adage “time is money” is especially true. When the largest business cost is labor, time-efficiency is critical.
We asked customers to estimate the cost of gathering information before they began using Content Snare, and after they implemented it into their process.
Because Content Snare is used by such a large range of companies, there was a large range of responses. Some customers reported savings of up to $6,210 per month!
If you’re into stats, the average saving was $992.40 and the median $500.
The median was a 77% reduction in costs.
Given that time has a monetary cost, it’s no surprise that this figure is close to the 71% reduction in hours in the previous section. The difference may be attributable to opportunity cost. Several respondents commented to say they had included the opportunity cost of the time they wasted gathering information.
23.9x Return on Investment
The gold standard for a software product is to provide your customers with 10x return on their investment.
That means if someone signs up for a $69 per month subscription, they should see at least $690 in value each month.
We’re extremely happy to report that Content Snare customers see an ROI of 23.9x (2390%)
To calculate this, we split savings by the plan each respondent subscribes to. As you’d expect, companies on larger plans report larger financial savings, because they use the product more.
Divide the median saving by the plan cost and you get ROI
|Plan||Median saving ($)||Plan Cost ($)||ROI|
We felt median was a more representative metric to use here, because some of our customers report significantly higher benefits. If you’re interested, here are the ROI calculations using the average savings, rather than the Median.
|Plan||Average saving ($)||Plan Cost||ROI|
The average ROI increases to 29.4x.
67% reduction in stalled projects
Beyond the time and financial cost to chasing clients for information, there is the problem of stalled projects.
When you can’t progress with one project or new client, it’s not a big deal. But when there are multiple projects backlogged, there are significant downsides.
- Stress – having multiple projects in limbo clogs up headspace for you and your team
- Reactivation costs – when a client comes back to you after weeks or months, their project is no longer fresh in your mind. There’s a significant time cost in getting back up to speed
- Opportunity costs – the time maintaining your backlog is better spent on revenue generating work
We asked respondents to estimate the percentage of their total many projects that existed in this “limbo” state, waiting for clients, at any one time.
The median percentage was 75% before implementing Content Snare, and 20% after. This translates to less than ⅓ of the number of projects or clients on the backlog at any one time.
On top of this, they also reported that their turnaround times improved dramatically – around 50%. The median turnaround of 3 weeks became 1.5 weeks with Content Snare.
52% reduction in errors
When you request information from clients, it’s rare to get back everything you need exactly right the first time. People make mistakes, it’s simply in our nature.
When clients can’t understand what you need from them, they’ll get more things wrong. This is a serious problem as you then have to request the correct info, resulting in more emails and more opportunities for items to go missing. Content Snare solves this.
With Content Snare, 81.9% of customers reported that their clients get more things right the first time.
On average there was a 52% reduction in the amount of items that clients got wrong.
We don’t know how many email threads that’s saved, but our guess is a lot.
A better experience for clients
Finally, we asked 3 simple questions.
- Do you think your clients have a better experience with Content Snare compared to your previous process?
- Have you received positive feedback about Content Snare from your customers?
- Has Content Snare reduced stress or frustration in your organization?
The most important part of Content Snare is your client’s experience. If the process is easy for them, you’ll get what you need faster. Plus, they’ll love you for making it simple.
If they’ve worked with your competitors before, there’s a high chance that they’ve been through a rough onboarding experience and will appreciate you for making it simple.
We put a LOT of work into the client-facing parts of Content Snare to make it simple for them to use and understand. It’s nice to have all the effort we put in vindicated by our customers and their clients!
If you’d like to join the companies using Content Snare to drastically slash their time spent gathering information, you can start your 14-day trial at any time.
Once you’re inside, feel free to reach out to us with any questions about how to set up your account to get results just like these.
- If you’d like to see the data this is based on, reach out to us. We can provide an anonymized copy.
- We’ve used medians over averages. A few customers reported very large benefits which skewed the results. This does happen with some of our amazing customers, but we felt that median painted a more realistic picture.