tl;dr The slow, hard grind continues. Got first paid accounts and renewals. Tiny but growing site traffic. Unclear marketing strategy.
- Last month we activated our Stripe-based payment system, and got our first sales. Woot!
- This month, we’ve had our first renewals and increased monthly recurring revenue (MRR). Double woot!
- Total sales are still tiny. I’m earning enough to fund my caffeine addiction, although coffee is cheap here in Barcelona. There’s a long, long way to go until this product is financially viable on its own. I’m estimating late 2019.
- Site traffic has increased at about 25% per month since I started tracking. I spend way too much time extrapolating this in a spreadsheet to project some completely unlikely future.
- Potential customers keep asking for new features. Must. Resist. Urge. To add. Every. Requested. Feature. Luckily I have a pretty good way of finding out the most popular suggestions.
- I’ve been adding new features too quickly because coding is more enjoyable that marketing. I’m forcing myself to spend more time on sales & marketing and less on product development. This month I’m not doing any active development.
- Quora has been our main source of sales. I don’t think there is much scope to scale up this channel.
- I’m concentrating on SEO and content marketing. Neither is giving me any ROI yet.
- Content marketing: Our early customers are in diverse industries. I expected to mostly have small software companies as customers. So far, that’s not been the case. This is causing me to rethink my content marketing strategy. Our blog is gaining readers but very few seem to click through to our marketing site. Maybe I need to change my content strategy, or maybe I just need to be patient and persistent.
- SEO: I’ve created some site content optimised for certain Google searches. Google has started indexing the content. Google traffic is tiny but growing. I haven’t yet worked out what keywords I should be targeting.
I’m happy to answer questions and to receive advice!