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13 Comments

SongBox end of year review: MRR up 1000%

Greetings 🎅 🎄

December 2020 is ending with a 1000% MRR increase from December 2019. I'm pretty happy about that. Right now MRR is sitting just under £600 ($800) whereas last December it was £52.

For context, last December the product was about a year and half old and now it's about 2 and half years old.

Slow and steady wins the race.

If someone was to put a gun to my head and tell me to explain the one thing that had the most impact, I couldn't do it.

I've been thinking about it a LOT and what I would say is that it is a powerful combination of 3 things.

  1. Continually speaking to customers. Now, people say this all the time but what does it actually mean to "speak to customers"? In my case it means emailing as many new signups as you have the energy to email. I also email people when they take a paid plan, when they upgrade or when I just notice (from my reports) that they use the platform a lot. This will wield amazing tidbits of information, usually along the lines of "it would be great if I could...." and "I think it would be easier to use if...."

  2. Take action on the above. Seriously, lots of small changes that in isolation may seem inconsequential DO add up to an overall more polished and refined product. Remember, new users don't see the small iterations. They just see what the product is like when they sign up, and if all the little niggles are gone then their first impressions are really excellent, and that matters.

  3. Experiment with pricing. I've had... I dunno... MANY versions of my pricing tiers since I launched. When I switched to the current tier system ($10, $20 and $30) things started to lift almost immediately. However I believe this was only the case because I implemented points 1 and 2 well.

Anyway, it's a tough old slog but I believe perseverance is the key.

Merry Christmas everyone 🥂

  1. 10

    Let's go, I love your product. Matter of fact, I love any product that isn't one of the following:

    1. Selling to other Indiehackers.
    2. The entire premise is it being ✨No-code✨
    3. An airtable.
    4. A damn newsletter.
    5. Again, selling to other Indiehackers.

    Keep it up.

    1. 4

      Haha thanks. Yeah I think I’m in the minority here with a product that isn’t aimed at other makers or developers.

      🤓

      1. 3

        Yeah it's great to see a fellow founder taking on a competitive space that is not selling to indie hackers - keep going and I wish you all the success!

  2. 2

    Great stuff, thanks for sharing.
    Regarding #1, what is the rough % people actually respond to your email?

    1. 3

      In general about 10% but for paying people pretty much 100%.

      1. 1

        Thanks for sharing! I really like your approach of talking to customers by emailing them. :)

  3. 1

    I think I'm the only one who is not surprised by this 👀 ... #JustKiddding

    Congratulationss! You have taken off now!

    1. 1

      Long ways to go but aye. I’m happy.

  4. 1

    Congratulations, Mick!

    Slow and steady wins the race indeed.

    And this definitely resonates:

    Remember, new users don't see the small iterations. They just see what the product is like when they sign up, and if all the little niggles are gone then their first impressions are really excellent, and that matters.

    It's all about the user experience at a glance.

    How fast it loads, how intuitive the workflow is, what little feature exists, what little feature is missing, the placement of the button, the color of the sidebar, anything and everything, they're all taken as a whole to evoke certain emotions in your users, whether it's delight or dislike.

    What are your main customer acquisition channels? And your MRR goal for 2021?

    1. 2

      Thanks.

      Almost all of my growth comes from organic Google traffic.

      Goal for this time next year? 1000% up again - why not 🤓

      1. 1

        It'll happen. Looking forward to your celebratory post when it does.

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