How we reached $6250 monthly recurring revenue in 77 days from launch
We built this product because we had tried the two other main players in the market and felt that these products are 1)expensive 2)complex
On 2nd Dec'19, we launched on PH. Kept following things in mind:
1.Use GIF in the thumbnail 2.Product screenshots 3.Post close to 12:00 am PST 4.Never indulge in fake voting
We ended that day @ 4th position! Coming in top 5 on Product Hunt opens a lot of early PR opportunities. So, we go covered by number of niche blogs.
We spent $1k on SEO & $200 in FB Ads targeting job profiles like Support Manager, HR Manager etc. To break some users (similar to us) from existing players, we built 1-click account migration for both Front and Help Scout from day 1. Also, we built few other integrations (Stripe, Twilio, Pipedrive etc.) to get some distribution going for us as early as possible.
We signed up 500+ users within 1st week. We priced the product the way we wanted it to be as a customer of other shared inbox offerings in the market. And, the pricing was also partly influenced by our love for Basecamp. So, we have 2 plans - free and $99/m for unlimited users.
When you have a free plan, it is very important to design that free plan smartly. If you don't put the controls on features at the right trigger point, you will miss out on the upgrades. Hence, we spent more time on planning our free plan than our paid plan. The idea really was to figure out the stage at which a small startup feels the pain of email chaos and is ready to pay for the solutuon. So, we offer the product for free for up to 5 team members. If you need anything more than that, pay $99/m.
In 77 days, we have converted 52 accounts (4% of signups) into paid @ avg $120/month.
Hope this is useful for some of you.