In the first half of November things were not looking too good. We’d had 10 new paying subscribers, and 14 cancellations. This gave us a much-needed reminder that it's all very well to build a kick-ass service, but you need to do a little marketing to let people know it exists…
Marketing a SAAS products is fairly new to us, as previously we've been focused selling apps with one up-front purchase. Based on all the advice we’ve read, we set out to improve the website, the on-boarding experience and tweak the pricing. None of these things are a quick fix, and I know they will all take constant iteration for any of them to be effective, but armed with advice and customer feedback they’re all things that should help in the longer-term!
For the second half of the month, we put together a plan to help us ramp up the number of active subscribers - after all, we didn’t want to end the month with fewer subscribers than we started!
We put together a plan for the last half of the month in the hopes of attracting significantly more subscribers. Here's some of the things we did from the 15th of November to the end of the month.
- Redesigned Website (new modern design, testimonials, details, press kit, more)
- Emailed press contacts
- Emailed Realmac Newsletter subscribers
- Placed ads with BuySellAds on 6 sites (running for 30 days)
- Improved the sign-up process
- Started writing and posting weekly articles about blogging
- Started recording weekly video tutorials
Our marketing efforts started to pay off within the first week. We managed to finish November with almost a 100% increase in MRR and paying subscribers. Hopefully we can do the same again next month (although as we have the Christmas break coming up it’s going to be tricky)! The increase in subscriptions is mainly down to the website redesign and the email marketing. The paid ads aren't performing so well so we won't be renewing those. Over time we're expecting the video tutorials and articles we write to attract more users into the service.
November 2015 Revenue Report for Typed
- Monthly recurring revenue: $1,563.35 (+93.95%)
- Annual recurring revenue: $18,760.18 (+93.95%)
- Total Paying Subscribers: 143 (+98.61%)
- New Paying Subscribers: 98 (+345.45%)
- Customer Churn: 37.50% (-0.39%)
One of the things we also started doing this month is automatically sending people an email asking them why they cancelled their subscription. So far this is working particularly well, giving us a great insight into the areas where we can do more to convince people about Typed. The three most common reasons for cancelling have been:
- Theme customisation
- Unable to import existing Wordpress/Tumblr blog
The good news is we’re almost ready to publicly launch the the custom theme feature. This will enable anyone to upload a custom theme to Typed. It’s currently in private testing and we hope to be able to roll it out to users before the end of the year (or at the very latest sometime in January).
Our first milestone was to have 100 paying subscribers, and thankfully we’ve sailed passed that. The next big milestone for typed.com is to reach 1,000 paying subscribers.
We’re not looking for overnight hockey stick growth - we just want to see regular, steady growth each month (who doesn't, hey?). As long as we continue to achieve this, Typed will be in good shape for many, many years to come.
I’ll report back in January on how December has gone for us. In the meantime, thanks for supporting Typed and happy blogging!
Cancel at any time, no questions asked. Credit card required.