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Getting to €20k in MRR in 90 days

blog.rubyandduke.com

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Re: Getting to €20k in MRR in 90 days

#21

Post by johnward »

niallharbison wrote: post #12
vjvj wrote: post #11

Earlier quoted context omitted.

The gulf between perceived and actual mobile phone usage is huge even now. People are willing to do a lot more on their phones than we expect. We have a long-ish sign up form for Car Quids yet half of our completions are done on mobile too.

We knew it would be a big channel but it was only when writing that post that it was driven home to me. 42%. And we still have so much to improve and speed up etc. The notion that people only sign up on desktops and get the credit card out there is dead now. People trust mobile for all sorts bow like you say

I think their is a group of people like my parents. They never really used computers and don't "get" them. Now that they have smartphones they are all over the web. My dad refuses to touch a computer but shops on his phone or ipad all the time.

Re: Getting to €20k in MRR in 90 days

#22

Post by johnward »

nine_k wrote: post #17
Avalaxy wrote: post #10

Earlier quoted context omitted.

Don't you get tons of fake likes? Because my experience is that the majority of the likes I got were fake.

I suspect the number, and the very presence, of likes on your company's page is inconsequential. What matters is the percent of conversions (that is, purchases) for ad impressions. FB can target ads very narrowly.

I've ran campaigns that targeted likes and I feel like many of them are phony but I've also ran target campaigns to lead pages as an affiliate and had success in the past.

Re: Getting to €20k in MRR in 90 days

#23

Post by eonw »

sillypog wrote: post #2

Is it recurring revenue if it hasn't recurred yet?

i would say no, i would call it, "potential recurring income". with only 90 days of data you don't really know how long each customer will stay, without more data you really don't know how many of those will stick around for another month. then again i dont count my eggs before they hatch.

Re: Getting to €20k in MRR in 90 days

#24

Post by Avalaxy »

kaolinite wrote: post #16
bemmu wrote: post #3

I thought no-one would bother filling out contact details / CC number without getting to a desktop first. After looking at your data and then checking my own analytics, I'm wrong. Even for Candy Japan, I see 13% of conversions from mobile, 12% from tablet. And this despite the site not being designed for mobile at all. Sounds like fixing my mobile side might actually be a great opportunity for getting some more conve…

It's quite possible this changed with iOS7 with the introduction of iCloud Keychain, which enabled storage of credit card information. I've found myself buying a lot more stuff on the mobile web since then, things that previously I only would have bought on a desktop.

Don't think so. The people with an iPhone are a minority. In Europe iOS only has a market share of 18% so I doubt that's a big factor.

Re: Getting to €20k in MRR in 90 days

#25

Post by andyakb »

mpeg wrote: post #5

I like the acquisition success story, people bash on Facebook ads but they're probably the best online channel when you have a very specific audience you want to target with high reach (dog owners, UK&I) Just doesn't work as well for retail products / subscriptions when your audience is not necessarily ready to buy, and you just end up with worthless likes and no conversions. For instance, FB targeting women 25-35 fo…

I don't think its fair to say FB ads dont work as well when your audience is not ready to buy. If you try to run an Adwords style campaign on FB, then you are right, that isn't very likely to work but that isnt because of FB.

The problem is the ads don't match where the prospects are in the buying cycle. Where FB excels is driving leads into a nurturing campaign that gets them ready for the sale down the line. These campaigns work wonderfully across a wide variety of industries.

Re: Getting to €20k in MRR in 90 days

#26

Post by georgiecasey »

Avalaxy wrote: post #24
kaolinite wrote: post #16

Earlier quoted context omitted.

It's quite possible this changed with iOS7 with the introduction of iCloud Keychain, which enabled storage of credit card information. I've found myself buying a lot more stuff on the mobile web since then, things that previously I only would have bought on a desktop.

Don't think so. The people with an iPhone are a minority. In Europe iOS only has a market share of 18% so I doubt that's a big factor.

did you read the part of the post where he tells us sales by operating system? iOS is 33% and Android is 9%.

it's a certain demographic that would buy a monthly box for their dog and i'd expect them to be mostly iPhone users

Re: Getting to €20k in MRR in 90 days

#27

Post by alexchamberlain »

johnward wrote: post #21
niallharbison wrote: post #12

Earlier quoted context omitted.

We knew it would be a big channel but it was only when writing that post that it was driven home to me. 42%. And we still have so much to improve and speed up etc. The notion that people only sign up on desktops and get the credit card out there is dead now. People trust mobile for all sorts bow like you say

I think their is a group of people like my parents. They never really used computers and don't "get" them. Now that they have smartphones they are all over the web. My dad refuses to touch a computer but shops on his phone or ipad all the time.

I'm not denying this - I do see it in my in laws - but I don't get it. I'd be very interested in more research/anecdotes here.

Re: Getting to €20k in MRR in 90 days

#28

Post by Avalaxy »

georgiecasey wrote: post #26
Avalaxy wrote: post #24

Earlier quoted context omitted.

Don't think so. The people with an iPhone are a minority. In Europe iOS only has a market share of 18% so I doubt that's a big factor.

did you read the part of the post where he tells us sales by operating system? iOS is 33% and Android is 9%. it's a certain demographic that would buy a monthly box for their dog and i'd expect them to be mostly iPhone users

Oops. no, I overlooked that. I'm proven wrong.

Re: Getting to €20k in MRR in 90 days

#29

Post by aakilfernandes »

johnward wrote: post #19

The fact that these boxes keep turning into successful small businesses is amazing to me. Especially when this box already has a competitor that I thought of as soon as I figured out what it is. The article wasn't as insightful as I hoped. Though I'm pretty impressed by that growth in 3 months. You often see things like SaaS growing much slower. I see people talk about taking years to scale to 20k in monthly recurrin…

> I appreciate that they shared their story but it seems like mostly they built a following by sharing dog pictures on social media. Maybe that's the lesson?

I think the lesson is figure out your marketing channel before you build.

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