From 0 to $1M ARR in 6 months (+ the plan)

In just 6 months after the launch Setapp achieved $1 million ARR.

How did they do it?

1. They discovered an unsolved need in the market and created a product "Netflix of Mac apps" as near to perfect as they could make it.

2. They positioned their perfect product as a "closed beta" and personally invited over 1000 journalists, bloggers, and industry influencers "... to be the first to try it and share your feedback."

3. Almost everyone in the closed beta started writing about the app.

4. They gave early adopters an option to subscribe to a mailing list through a landing page and gain early access if they promoted the product.

5. They released the product publicly (giving away a free 7-day trial), targeting big media.

6. They created a Facebook Group for their most engaged customers to collect feedback and test new features.

7. They focused on improving conversion rates: Visit → SignUp → Engaged User → Paid User. The biggest impact came from promoting the right aspects of a product's value to the right segment of customers during the most relevant and timely stage of the funnel for those users.

8. They focused on 2 key metrics: "Month over month market share growth" and "Month over month profit growth".

9. They created a referral program: "Get a free month for every friend invited".

10. They tested local, non-English markets with Google AdWords. Focusing on the markets that generate the highest ROI.

11. Based on the feedback, they added an annual pricing plan and student plan.

Source: setapp.com


Cheers,
Charlie Patel ;)



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