August report for Friendly, the obviously first and only #OpenStartup in Switzerland:
💵 MRR (Monthly Recurring Revenue): $2,699 (+26%)
🤝 New customers: 7 (+17%)
🤩 Upgrades: 4 (+100%)
💔 Churn (cancellations): 2 (0%)
👩 Active customers: 27 (+23%)
👋 New trials: 13 (+160%)
🔎 Website visits: 3’588 (-4%)
📮 Emails sent (Friendly Automate): 92’783 (-37%)
📈 Pageviews tracked (Friendly Analytics): 1’125’695 (+3%)
💸 Costs: $6’937 (-)
🧾 Profit and loss: -$4,238
This is what moved us in August:
Complete report with all details:
In July, our monthly recurring revenue (MRR) increased by 27% to over CHF $2,147.
For the first time, we also share our costs in our open startup report: they amounted to $6,435 – not including my own working time.
This means that Friendly is currently still operating at a loss of $4,289. Our next goal is to reach the profitability threshold as soon as possible.
There was a lot more going on in July - such as a viral blog post, and almost 150k emails sent - more about this you can read in this article:
I grew 🙂 Friendly from zero to 💰$1,000 MRR in 94 days building ethical marketing tools.
In the blog of Baremetrics I was invited to explain how exactly I did that.
Here is a summary:
This tip from @arvidkahl has proven to be gold for me:
I found it in his free online guide about bootstrapping a business.
You should also check out is book! zerotosoldbook.com
Pieter @levelsio's advocacy for B2B helped me a lot.
I could have got more out of the launch of my first product if I had done that.
This table shows our customer development until reaching $1,000 MRR. Only about half of the customers stayed.
This not only creates more trust with colleagues and customers, but is also great for marketing.
Baremetrics offers a curated list at openstartups.com.
We are proudly one of them! friendly.is/open
Find out the whole story in this blog post:
More revenue, problems with the stability and an addition to the team – that moved us at Friendly in June:
💵 MRR / monthly recurring revenue: $1,638 (+25%). We acquired seven new customers in June and two customers switched to a larger subscription.
👩 Website visits: 2,106 (-34%). In May we reduced paid advertising (Google Ads Search) to focus more on content marketing. As this is a long-term measure, traffic has initially fallen.
🔨 Stability issues, massive investment in server infrastructure.
🤝 It’s the first time in my life I’ve hired someone – welcome to the team, Joey!
Read more: https://friendly.is/june-2020
WordPress has added our plugin for Friendly Analytics to the official plugin directory.
This means that our plugin meets the high quality and security standards of WordPress.
Also, the plugin can be installed directly in WordPress via the plugin search.
Click here to go directly to the plugin:
Today the monthly recurring revenue (MRR) of Friendly has exceeded the remarkable limit of $1’000 – only 94 days after its foundation!
I would like to thank all our customers for their trust. We will continue to work hard to earn it and to make our products better.
Here you can access our public live revenues dashboard: https://friendly.baremetrics.com/
And here you can find all other public information about Friendly, like our website analytics and our product backlogs: friendly.is/open
Only the external costs for sending the SMS are incurred. We support Twilio as sending gateway. The billing is done directly via Twilio.
Soon we will also support sending via WhatsApp – also at no additional cost.
Friendly is now an Open Startup. This means that we operate transparently and share our metrics, including revenue and website traffic.
Our MRR is currently CHF 375, our website generated 4'374 page views in the last 30 days.
Here you can find all public information about Friendly: friendly.is/open
Friendly offers ethical marketing tools that help SMEs strengthen their customer relationships. This leads to more trust and increases leads and sales at lower advertising expenses. All our tools are based on open source