As of June 30th 2020 we are dangerously approaching the €15k with €14,701 MRR which is great!
If you’re new to Wild Audience, here’s what we do in one sentence: At Wild Audience we help companies build authentic relationships with marketing automation to grow their business.
June was a pretty good month. While we are still not actively growing our MRR, the numbers are going up and we are about to jump into our growth phase.
This month every team member felt that their hard work paid off which is very exciting.
June 2020 was a good month in terms of MRR growth. We grew a whooping +15.84% compared to a month ago.
That’s our second biggest month after January 2020 were we achieved +19.48% in growth. But in terms of added new business, June 2020 has definitely been our biggest month. We added €1,990 in new business to our MRR.
The main reason for that was that we acquired a few bigger accounts as customers. We closed two €400 MRR accounts as well as 5 +100 MRR accounts. Just to put this into perspective, in May 2020 we did not add any account with more than €100 in MRR, which was also the reason why our MRR growth in May 2020 was only at +4.48%.
This can also be seen by looking at our average sales price.
We increased our ASP from around €30 in May to €90 in June which can be explained through the bigger accounts we closed this month.
We managed to decrease our Net MRR Churn rate a little more from -0.89% in May 2020 to -1.12% in June 2020. As long as we keep it below 0% for now, we are pretty happy.
For the people who don’t know what it means to have a net negative MRR churn rate..
..We keep growing through expansion MRR and reactivation MRR even if we would not add any new business.
It’s time to talk about you guys (yes, you!), because you are and will always be the most important people in our business.
In June we had a total of 151 conversations (218 in May) with 113 customers (185 in May).
June is the beginning of the summer and things usually tend to slow down a little.
But the fact that these numbers continue to go down also means that our onboarding process is on point and that all the knowledge you need is available in our Help Center for you to consult at any time.
You gave us a 100% happiness score for this month and we are very happy to see you happy! 😍
Our “First Response Time” aka how long it takes us to respond to the initial ticket is still one of the most important metrics for us when it comes to Customer Support. Our “First Response Time” on average is between 4-5 hours and we keep monitoring it every month.
This month it was at 3h23.
To give you an idea, our First Response Time for the last two months was:
Not bad, heh? 🙂
Two things we are currently working on:
(A) The way we answer our support tickets.
We are trying to answer your email with loom videos as often as possible. It is more personal and usually easier (for you and for us) especially when it comes to technical questions or to show you how a feature works. It’s definitely quicker and seems to make everyone happier 🙂
(B) “Our First Time Response”.
While some emails require more time as we need to investigate further to find the best answer or solution, we are currently trying to reply to your emails within an hour. Let’s keep an eye on our First Time Response during the next few months and see how we’re doing.
We spend the whole month of June building our first tangible MVP. And it’s ready!
Quick reminder before I jump into it:
We believe that accurate data is the key for growth but we struggle to get accurate data ourselves so we decided to find a solution for this that is called Wildmetrics.
Wildmetrics is ROI tracking for marketing campaigns, funnels and channels. It integrates with your marketing tools natively & uses a tag-based tracking approach as your source of truth to not rely on in-accurate cookies, pixels or UTM tracking links.
Alright! Now that things are clear, let me tell you more about our MVP and the approach we took to build it.
It’s pretty simple, we have followed a use case based approach and have identified a number of use cases which Wildmetrics will be able to cover. Here are a few examples:
- Use Case #1: How much revenue generated lead magnet A in May 2019 compared to lead magnet B?
- Use Case #2: What channel generated the most revenue in Q2 2020?
- Use Case #3: What is the ROI of funnel X in the last week?
- Use Case #4: What is the sales cycle length of funnel Z in the last year?
- Use Case #5: What is the CAC for customers for funnel Y in May 2020?
- Use Case #6: How long does it take until FB ad campaign X breaks even?
- Use Case #7: What is the ROAS of each of my FB ads campaign in the last 30 days?
These are just 7 out of 68 use cases we have identified. You can see them all here.
By working out use cases together with our alpha users, we want to prove our hypothesis right or wrong.
At the moment, our MVP is purely functional and has no real design on purpose. Here are our first 4 use cases WMX supports (see screenshot below).
- We have completed infrastructure and user research.
- We have identified the most common use cases.
- We have built the first version of Wildmetrics which covers 4 use cases.
- We are about to onboard our 10 first alpha users.
- Gather feedback from our first alpha users via zoom calls or loom videos to identify our next use cases & improve our UX
- Add Facebook as our third integration to cover ROI-based use cases
More about this in our next transparency report and we might also share some screenshots of WMX to give you a little sneak peek but that’s all for today regarding WMX 😋
Wild Mail is in partnership with ActiveCampaign. So, if you currently have an ActiveCampaign account, you can use AC through Wild Mail to get our benefits:
- Free ROI analytics features (Wildmetrics)
- One month paid by us (click here to learn more about this)
- Our unique method & templates
- Automation University discount (link)
You can learn about the benefits of using ActiveCampaign through Wild Mail here.
In June, a new integration with Salesforce was released. You can read it all about it in this article.
We also fixed 10 bugs this month 🤖
Ok let’s move on to marketing now ..
We added 156 new contacts to our list this month against 154 last month. As you can see there isn’t a big difference from last month and the reason behind this is simply that we got less traffic this month. This is because we stopped publishing content like blog posts and YouTube videos to focus our time on our big Funnel Update Project.
But more about this later.
When it comes to the origin of our traffic, you can see down below that our entire traffic is still mainly organic inbound traffic.
More about data in the next section.
Relationship Funnel Data:
I am gonna break down our funnel for June 2020 now, so let’s have a look at the numbers:
- Traffic: 3,108 uniques
- Leads: 156 (5,02%)
- Trials: 43 (27,6%)
- Customers: 22 (51,2%)
These numbers don’t look too bad at first sight but the problem is that they are not accurate. The 43 trials could come from the 156 leads which we collected this mont h but they could also come from any month previous to June or it could be people who registered for a trial but without becoming a lead first.
The solution to the problem?
Our benchmark numbers are 30% conversion rate for lead to trial and a 15% conversion rate for trial to customer. So we are not doing too bad.
Funnel Update Project
For the last two months we have been working hard on building a whole new funnel for Wild Mail (in English and in Spanish). This project involved all team members and took us a lot of time (see screenshot from Everhour below).
For this project we’ve had to take some time to reflect and analyze the status quo aka our current funnel. We needed to have a clear idea of what was working well and what was not.
Our WM funnel includes 43 automations, which gives you an idea about the complexity & volume of this project.
We re-wrote 24 new emails for our different sequences such as our RBS, Sales Sequence, Onboarding and Customer Success Sequences.
We also created a new lead magnet. We updated every single aspect of our funnel and there are two reasons for this:
- We needed to update our messaging to be in-line with our new positioning in order to communicate “Grow your business by building authentic relationships with marketing automation.” everywhere in our messaging.
- We wanted to focus more on user experience, customer journey and success as well as on bringing you more value.
We are pretty happy about the result and can’t wait to see our Relationship Funnel live.
As a SaaS business, June has been an amazing month. It’s been our best month in terms of growth and once again we have made enormous progress in our journey from 10k MRR to 50k MRR. After all the hard work that every team member has put into the foundational phase for the last 6 months, it’s an incredible feeling to finally see some results.
In this founder talk section, there are two things I would like to highlight today:
- Slowing down over the summer and connect with life and with ourselves.
- Celebrating the achievements and the work we have done so far and continue doing every day.
It’s important to work but it’s also important to have fun at work and outside of work everyday. We encourage everyone and ourselves to slow down because we don’t want to wait for the weekend or the holidays to live. We want to live and connect with life every single day especially now over the summer months.
We all have interests and passions outside work that we want to nurture, enjoy and now is the time. And it’s also a great way to celebrate the work and everything we have achieved so far.
Of course, as a business, we do want to grow, we do have goals and we do work hard to achieve everything we want to achieve every single month but one doesn’t exclude the other.
We want to make sure that we combine both (work and hobbies/passions) and that we find a balance if such thing exists.
So if I had to give you a little advice for the next two months, slow down and live your life whatever that means to you.
Success is really not everything.
A few excited things coming-up in July!
Check out our public roadmap to see the progress of our team in real time.
In July we will work on the projects circled in red color.
As you can see, we got a little behind and we will be wrapping up foundational projects beginning of July, finally!
The first two weeks of July will be an “integration sprint” where we ship our last big projects (WM Funnel Update Project and Wildmanual Update) and jump into a new cycle (3 sprints) where we kick-off our growth phase (yay!).
Benji will work on creating our new growth strategy focusing on YouTube, PPC and Partners while Emilie will focus on Customer Success (meaning you guys).
Besides that I will continue to work on Wildmetrics (with the feedback of our first users) and with our new UI designer & illustrator to create a new look and feel for our brand Wild Audience. And I will also be looking for a full time developer to join our team so if you know anyone, reach out to me via bastian at wildaudience dot com.
July will definitely be another big month for us and to say that we are excited is an understatement.
Alright, that’s a wrap!
See you in our July 2020 Transparency Report 🙂