$64,151 revenue and a new pricing structure – March 2015 monthly report

Welcome to the March monthly report for WP Curve. March has been a tricky month for us. Let’s start with monthly run rate:

$64,151 revenue and a new pricing structure – @WPCurve March 2015 monthly report goo.gl/2yqB2w – CLICK TO TWEET

$64,151 monthly run rate and a new pricing structure

MRR

The MRR this month is a bit disappointing. I think part of the issue is we introduced new pricing and we made the mistake of not making it super clear when people were signing up for an annual plan.

We had quite a few people sign up and then ask for refunds. Unfortunately we didn’t realise how big a problem it was until the end of the month. We have since made some changes and we think we have resolved that issue.

We are also split testing quarterly pricing to see how that impacts signups. We think our growth will continue once it all settles down but it might be a couple of months of uncertainty.

We reached 859 total customers with an increase of 19 customers for the month.

People, product and process

People

Our team grew to 44 this month. Our Facebook advertising for our developer’s page has been helping us find high quality developers quickly. We also ran an ad on RemoteInternships.com which had a solid response rate.

Product

Our happiness score for this month is 84, unchanged from February. We are hoping our new performance management process that we implemented last month will bring us closer to our goal of 95.

Featured Happy Customer – Eleni R. So, so, so happy with your service!! I couldn’t have launched my website without your help, unless I had a super expensive web designer working for me 24/7. You have done numerous, small tweaks that make a HUGE difference for me. I cannot thank you enough!”

1097 jobs completed – This is a big improvement over last month (907).

Responding faster to customers is one of our big challenges and targets to improve. We aim to have this below 8 hours. In March we cut our average response time by over an hour from 11 hours 25 minutes to 10 hours 10 minutes. This is a good sign that our new quality assurance processes are helping.

  • Average first response – 10 hours 10 minutes
  • Lowest response time – 4 hours 22 minute – March 24
  • Highest response time – 24 hours- March 31

Process

Alex has been working with a few members of our team to identify small process improvements that should bring our overall customer happiness up and response times down. Most of these are aimed at communication and shortening feedback loops.

It’s exciting to see that as we give team members some autonomy and ownership over these problems they come up with new solutions that we may not have considered before.

Website traffic

March saw a 13% increase in traffic with 56,600 visits (up from 49,897 visits in February). Traffic grew each week, fueled by a steady steam of new content and growth in our organic traffic.

Traffic sources

We have started tracking the links on WP Curve Weekly Email. This has helped us get a better idea of how effective our emails are. Before they were being lumped in with direct traffic, so it was difficult to tell what was working.

Top pages

We are seeing a lot of growth in organic traffic on the site. We can see a slight increase in traffic across the board in most of our posts on our top pages. The post How we effectively use Trello for project management has almost doubled in page views this month.

We noticed that Google Analytics is counting the incoming links from Infusionsoft as unique pages. This means our newer posts that we promote with email don’t appear to have as many visits. A post from March that should show on this list is The WP Curve content strategy, and how to build your own, this post was highly popular with our subscribers.

Email List Growth

We had 759 new subscribers added to our email list, down from 956 last month. Last month we had a wait list which would explain the higher numbers. Still, our email list is not growing as fast as we would like it, and we are aiming to improve our conversions in the next few months through non intrusive measures. Stay tuned for some more on that topic.

Content

We hit our content goal of 10 posts this month. Our editorial calendar has been key in planning out and creating more content. Being able to plan content out a month in advance made it easier to produce more content and work with our guest writers.

Dan released a two frameworks for content idea generation in his Facebook group, content machine. I was experimenting with these documents to create over 50 new ideas for content that our guest writers could choose from. The big list of pre-approved topics to choose from has made it easier form them to get started creating content. Though our guest writers are welcome to submit their own ideas.

We still have some improvements to make with this system. In April we will focus on a low friction process for guests to upload and submit a post and make sure it conforms to our guidelines.

We consider 50+ tweets to be a break out hit. In March we had 3 break out hits, but it looks like some of our more recent posts will be hits as well shortly.

Any questions?

Please let us know in the comments below.

Info about this report

We do these reports to help other entrepreneurs get real information about running a startup. Dan did the 1st report in 2012 when he was earning $0. Here is the full archive. Here is a post we wrote recently on some monthly income reports from other startups. If you like the reports we’d love you to share it.

JOIN 20,000 AND GET OUR BEST CONTENT

Each week we send 1 email to 20,000 smart entrepreneurs just like you. Enter your email below to join the crew.

We will not share your email. 100% privacy

About

Kyle is the founder of Conversion Cake . He is the author of "The College Entrepreneur" A book for students who want to break into entrepreneurship. Follow him @kylethegray

  • Congrats guys! You are growing quite the biz!

    • Thanks for being part of our journey John!

  • Kyle, this is great! I think we can all learn from how you broke this down (and what we are failing to pay attention to)

    • Thanks Hugh, it’s tough to keep eyes on every aspect of the business all the time. We have a lot to digest from this month for how we can improve, but I think in the long run we’ll benefit from these challenges.

Free download

8 lessons learned growing WP Curve from $0 to 80k/mo in revenue

Learn the key lessons from our victories and failures growing a startup to 80k in monthly revenue.