Few key things that helped me increase my MRR recently 💫
A product is more of an ongoing learning process than a growing business. You might lose business in the process but will always learn to do better in the next one 📈. Here are some of the changes we did at ruttl recently that helped us increase our MRR by 34%:
- Improved Onboarding Experience
- Lean Keyword Targeting
- Reduced the pricing for Tier 2 and Tier 3 Countries
- Introduced Web Application support
The best part is that we have reduced our google Ad expense by 80% and still are able to improve our KPIs. Given the current time where getting investment is a challenge, we are super proud of ourselves to be able to bootstrap the company and grow it at this rate month on month 🚀
Cheers,
Harsh 💯
Nice tips! How do you control pricing for different Tier?
Maybe using IP tracking but not sure. I have to check stripe to see if they support such thing by default.
I am curious about the 80% reduced Google ads spending, were you getting the same results as before the budget reduction?
Firstly, where I went wrong was that I tried broad match keywords in ads. That burned through lot of cash and I didn't know much about negative keywords.
Now, I've selected a few buying-intent focused keywords only. + it's focused on driving more clicks. This way, the audience is super narrowed and in a way, my brand awareness is increasing quickly.
Hope that answers your question too @skillcombo!
Sorry, but it's not clear what do you mean by lean keyword targeting? Which price model do you use in Google Ads (pay for conversion or for click).
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Sure thing @Alucardvania! I've subscribed. Do let me know when your first post is out 👍
How do you handle the pricing for Tier 2 and Tier 3 countries? Do you change the pricing depending on IP location?
So as off now, I haven't been altering prices for tier 2 and 3 @FabianMaume @elliottetzkorn @danielkyne and @stevestories. It's been same prices for all countries.
I'm still optimizing my pricing model and looking at Purchasing Power Parity Pricing model. Since it's quite easy now a days to just use VPN and spoof location, I'm trying to seek alternatives to IP detection.
If anyone in the community has ideas on this, please feel free to drop it in this thread! Might help out everyone 😄
Hey Harsh,
We recently launched a tool that automates the whole process of setting up Purchasing Power Parity Pricing - https://www.paritydeals.com/
We detect and fall back to original pricing if a user uses VPN or proxy.
Please feel free to ping me on Twitter if you need any help setting up PPP pricing -
https://twitter.com/sachinNeravath
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Also also interested in this. Something we've wanted to do for a long time but assumed would be too difficult.
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What a random reply @pptpedia. It's not that hard to see that the blurred out MRR number is probably ₹168,897.73 (Indian Rupees), which would be ~$2,175. At 34% increase (not sure if it's a 1-month increase) that would've been about $1,625 as a starting MRR. That's a pretty big jump for a small SaaS company.
Thanks for the support @danielkyne! And you're actually pretty close on the numbers haha ;)
The jump is coming after we were struggling to figure out best channels of growth for the business but finally we're narrowing it down. 🤞