Afloat

Today we got our 10th paying customer!
We still have not made any new pushes in social media or marketing. So these are all from our initial experiments.

Most of the users coming in now are users that have been inactive for 1-2 months. We assume it's because it's tax return time for many people, and they come back, frustrated with their current systems, or that it's a good time to start fresh with a new one.

Currently, once your trial has expired, you can still download and list all your invoices and expenses, but not create any new ones. This seems to be a good choice since users tend to come back, try a bit more, and then upgrade once they get reminded of the system.

At the beginning of March, we did our first user acquisition experiment.
We used @magoz newsletter as the channel since he has 8782 subscribers already. The purpose was to validate that our core product was in a state where people wanted to pay for it. We offered a 30-day trial, which we now have reduced to 14 days.

We set the price lower than any of our competitors, since we don't want to experiment with pricing yet, but we want the validation to be based on if users were willing to pay or not.
From the newsletter, we got around 200 registered users. Of the 200 users, 7 are now paying customers.
We are happy with this conversion rate and feel that this is enough to validate that our core product is "good enough".

Since the audience for this newsletter already subscribes to @magoz newsletter, we knew they were going to be somewhat biased.

Now we are trying to experiment with new audiences and planning our next experiments.