Fucking hell! September was a crazy month for BugMuncher, and not in a good way. Based on August, and how I knew I wouldn’t be dedicating much time to BugMuncher in September, I didn’t expect to have a very good month, but what I wasn’t expecting was my most active month in terms of subscribers.
|This Month (September 2017)||Last Month||Change|
|Monthly Recurring Revenue||$4,014||$4,361||8.0%|
|- Personal Plan||22||21||4.8%|
|- Startup Plan||30||33||9.1%|
|- Corporate Plan||9||10||10.0%|
|Unique users on landing page||2,702||4,000||32.5%|
|New Free Trial sign ups||23||26||11.5%|
|Free Trial sign up rate||0.9%||0.7%||28.6%|
|New Paying customers||6||5||20.0%|
|Lost Paying Customers||9||5||80.0%|
|Free Trial to Paying conversion||26.1%||19.2%||36.0%|
So there you have it, BugMuncher’s worst month since I started working on it full time 2 years ago. Look at all those red rows! I seem to be hemorrhaging subscribers again, and once again, most of them are simply because they only intended to use BugMuncher for a predefined period of time.
Ignoring the ridiculous churn for a second, 6 new paying subscribers is actually pretty good for me, especially as I wasn’t really focusing on BugMuncher this month. I managed to stay in profit, but barely.
|Me||Home office allowance||£57.07||-|
|Barnstaple Work Hubs||Co-working Space||£180||-|
Expenses were pretty standard again, I’ve started using Xero to manage my accounts, instead of the mammoth spreadsheet I had been using previously. It’s fairly expensive at £33 / month, as I need the top level plan due to BugMuncher operating in multiple currencies, but considering the time it saves me, Xero is definitely worth it.
Oh dear, that graph has taken a pretty sad turn for the worse.
So as I said last time, September was always going to be a bad month for BugMuncher, as I had other things to focus on, including my marriage! That’s right, I’m now a happily married man, and Sophie and I were able to finish the car restoration in time for it to be our wedding car.
So now the real work begins, having spent a couple of months off from BugMuncher I’m actually really excited to be working on BugMuncher again. I’m going to be attacking BugMuncher from two angles: The first is to try and address the lack of revenue growth by improving onboarding and usability.
I’m also going to revive the previously cancelled custom survey questions feature, which I hope will help the churn issue by making BugMuncher into a tool more suited to indefinite use on live sites, rather than just short term use while a site is in development of beta testing.
Thanks for reading