Trying to break the $150k ARR wall
Hey Guys,
I have been running Draftss.com along with @aminmemon since 2018. I have been making around $125-150k ARR for the past year. It has been quite difficult for me to surpass this cap, so I have been trying some new ideas.
I have started to begin offering a 7-days free trial without a credit card to everyone! Currently no other competitors do this. I am playing out with this pricing experiment to see if I get more converts and increase in customers. Although this free trial is going to cost me real $$$ as there are real designers getting the work done for free trial customers.
Let’s see how this works out. Will update what comes out of this experiment.
Until then what do you think? Would this work or is it a flop?
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Where's your bottleneck currently?
Also, something is definitely working, but, have you tested different landing pages that show only a few specific areas that you cover instead of all of them? Maybe creating some sort of funnel for a specific type of design work could work too.
(Just wondering this because when looking at it, it got a bit overwhelming to see so many things.) Another strategy could also be going the other way and raising your prices.
Happy churn. The kind of customers that we are dealing with require a few tasks done, and once the tasks are completed to their satisfaction, they unsubscribe. A healthy 25-35% customers are falling in this category.
Alot of categories are primarily to show that we can take care of almost everything related to designs. Even though 90% of the customers request only 5-6 categories throughout their subscriptions.
I've been working on a new landing page. It is still under development but would love to know your thoughts on it: https://draftss.com/blog/draftss-elementor/
Is your target customer the end user or agencies? Because I think that if you go for the agency route, then you will be able to get more long term client, but if you do that, you do have to interview them/vet if they would be the type of client to not abuse your service.
As for the landing page, overall I'd say it looks good, but maybe add a bit more space and let things breathe a bit, (more specifically for the section right before "how this works".
And the pricing being only per month, rather than per week I think might work better too. Could add a "per year option = get in touch" too, for more serious long term clients.
The strategy to gain customers is not bad & this looks something like bigger and well funded MNCs do when they need to take on their competition, it works out for them most of the time, and I hope it works out for you.
Pretty hopeful that it works out that way. My only concern is it shouldn't attract the ones that are just trying to get stuff done for free. That's why a card is usually a seriousness filter, however, the funnel becomes broader when it is without card. Will access over the next couple of months to see if it is working out or not.
that is something I, or anyone for that matter cannot say anything until and unless it is tried and tested. So good luck and keep up to date. :D
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I'd say its a mix of customers having LTV of $450 & $6000.
Yes, majority of our customers are via Word of Mouth. That's the second best marketing working out for us.
This comment was deleted 4 years ago.