Monthly Recap for July 2020

Shared by
Jake from Betterlance

Better late than never. Posting this update on Aug 20th. 🀦

After June we had a lot of trials on our hands. The main goal for July was to fulfill trials, convert as many as we could to paid accounts (goal of 5) and learn from the ones we didn't.

We didn't hit that goal. Honestly, we've had a hard time converting trials. We did add 1 new paid customer (not from trial), but this was disappointing and frustrating. We do continue to see steady sign ups and new trials. So, next steps are to dive in and figure out exactly where we are missing the mark. We have some hunches, but next step is to look in to the data and talk to our customers. Onward.

Here are the metrics for July 2020:

  • πŸ’° MRR: $78 (+13%)
  • πŸ†• New Signups: 76 (-46%)
  • πŸ†“ New Trials: 31 (0%)
  • πŸ’» New Website Visitors: 611 (-52%)
  • πŸŽ‰ Milestones: 2
  • πŸ“ Blog Posts: 0

* big drops from our Product Hunt launch.

Growth Details
  1. We got a surprise bump in traffic and signups from being featured on landingfolio.com
  2. We continued to get a trickle of traffic from the Product Hunt launch and IndieHackers community.
  3. 🀷 We didn't focus on growth so not much to report here.
Milestones
  1. We got our 2nd paying customer πŸŽ‰
  2. We fulfilled ~40 trials. Delivering ~200 new leads to our freelance customers. This was by far the most trials we have ever done and it was a big effort, but we were really happy with the leads we provided
Blog Posts

🀦 We didn't launch any new blog posts this month.

What's Next

Here is what is top-of-mind for the team to work on:

  1. Learn about trial conversion issues. Out of the ~40 trials did we converted 0. That sucks. So we want to understand why. We'll be talking to customers to figure out where we are missing the mark.
  2. Product iteration. We were so busy in July filling trials we didn't ship anything new to the product. In August we plan to ship several new features and improvements.
  3. Blog and SEO. We're starting to see more traffic from SEO. We want to double down on this and write more content that ranks and drives traffic.
  4. Scale affiliate program. We STILLΒ want to signup several more affiliates and start seeing some of our traffic coming from this channel. Otherwise we may need to try something new in Sept.

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