March 2019 Income Report
March was one of those weird months were very little happened. On the plus side I did get a new paying customer, and actually saw a tiny bit of growth, so March definitely kicked February’s ass.
My time has mostly been focused on minor fixes to the big update I launched last month. The biggest problem with running a tool that is embedded in other people’s websites is no matter how much testing I do on a new version, there will always be some weird edge case that rears its ugly head once an update is live. Everything seems stable now, and my customers are all happy, so I can finally start focusing my time on marketing (I know I said that last month, but this time I mean it).
The Figures
| March 2019 | February 2019 | Change | |
|---|---|---|---|
| Monthly Recurring Revenue | $4,196 | $4,186 | |
| Paying customers | 54 | 54 | |
| - Personal Plan | 15 | 15 | |
| - Startup Plan | 28 | 28 | |
| - Corporate Plan | 11 | 11 | |
| Unique users on landing page | 1,099 | 956 | |
| New Free Trial sign ups | 15 | 5 | |
| Free Trial sign up rate | |||
| New Paying customers | 1 | 0 | |
| New Freemium Customers | 4 | 2 | |
| Lost Paying Customers | 1 | 3 | |
| Free Trial to Paying conversion | |||
| Free Trial to Freemium conversion | |||
| Profit | £12.60 | £347.90 |
At first glance it may look like I’ve got something wrong, as the number of customers for each plan hasn’t changed, yet MRR grew by $10. This is because the customer I lost was one of my very first paying customers, so they had their old price of $19 / month grandfathered in. The new customer is also on the bottom plan, but paying $29 / month.
Free trial signups were still pretty shit, but a hell of a lot better than last month. The weird one is the lack of profit. I think this is because February only has 28 days, so any subscriptions which renew on the 29th - 31st will be carried over to April’s payments.
Revenue & Profit
Nothing much to report here, same old shit.
Goals
As this month’s plans were derailed by bug fixes, I’m just going to paraphrase what I said last month:
So while I didn’t do any much blogging this month, I did get the big update live working everywhere, and while there’s a couple of supporting things still to do, such as improving the onboarding process, my primary focus this month is marketing and promotion.
Thanks for reading
- Matt