Added 100+ new signups in one month!

In solidarity with startups affected by Coronavirus, we made our product free for two months for people joining, if they needed it. As a result, we've seen over 100 new signups in one month (and counting) with people from all over the world engaging, asking questions and really getting engrained into our user community.

This has given us an excuse to test out 'free trials' as a byproduct and as such as a result we're exploring the idea of continuing the offering on an ongoing basis, depending on the results we see over the next month.

We're expecting churn to rise (about 5% currently) but revenues to increase either way. Benchmarks suggest 35-40% will stay after one month and the same % of that figure will stay after 3 months. If that proves to be the case then we would be seeing 14 people for every 100 stay with us and if AMRPU stays the same then this would be £238 MRR increase for every 100 people added. With an LTV of £300+ currently, this could mean £4,200 revenue for every 100 people added.

We'll see how it goes!

Also testing FB ads now to see if we can drive more signups. Our CPC is 0.40p currently, but need to implement better tracking to see what happens. If we can acquire one customer in 10 or even 100 of those clicks then we can start powering more of our growth strategy with ads (alongside other channels, ofc).

Right... back to work! 😅