This newsletter is sponsored by Cello - referrals on autopilot.
I recently wrote about why CAC payback for public SaaS has hit 4.7 years - and which 5 channels are actually holding up under that pressure. User referrals and affiliate programs ranked highest, because you only pay when revenue shows up + referred customers tend to stick around longer.
If you want to know what that math looks like for your product specifically, Cello built a free ROI calculator. Plug in your MAUs and contract value - it outputs projected referral ARR, LTV:CAC, and payout economics over 5 years.





