July in the numbers at Friendly:
- 💵 MRR (Monthly Recurring Revenue): $2,147 (+27%)
- 🤝 New customers: 6 (-40%)
- 🤩 Upgrades: 2 (+100%)
- 💔 Churn (cancellations): 2 (-60%)
- 👩 Active Subscriptions: 22 (+22%)
- 👋 New trials: 5 (-68%)
- 🔎 Website visits: 3,749 (+78%)
- 📮 E-mails sent (Friendly Automate): 147,845 (+178%)
- 📈 Pageviews tracked (Friendly Analytics): 1,096,279 (+16%)
- 💸 Costs: $6,435 (+5%)
+27% MRR, Path Towards Break Even
In July, our monthly recurring revenue (MRR) increased by 27% to over $2,147. This growth was driven by six new customers and two customers switching to a larger subscription.
For the first time, we also share our costs in our open startup report: they amounted to $6,435 – not including my own working time.
The biggest part is the salary for Joey, our first employee – followed by costs for servers and tools.
This means that Friendly is currently still operating at a loss of $4,289. Our next goal is to reach the profitability threshold as soon as possible.
At the end of May our MRR reached the special threshold of $1,000. Dominique Jackson from the popular business analytics software Baremetrics saw our corresponding milestone at Indie Hackers and asked if I wanted to tell more about it.
Dominique himself told how it went on in the Baremetrics newsletter:
The result was this blog post of mine, which Baremetrics published on July 23:
The article resulted in a record number of visitors to our site with over 17,283 page views between 25 and 27 July.
And also my tweet to the article was my most “successful” tweet so far with 261 likes, 32 retweets, 5’937 engagements and 20’584 impressions:
I explain the “success” of the article and the accompanying tweet by the fact that it follows the recipe I described in that tweet – it deals with topics that interest me, that obviously interest our target audience, and where I apparently had credibility:
Stable Infrastructure: 147,845 E-Mails Sent, 1,096,279 Tracked Pageviews
In June we had reported problems with the stability of our servers.
I am pleased that our massive investment in our infrastructure has paid off – in July we had no significant outages, all servers were running stable like Swiss clockworks 😉
This achievement resulted in a record number of emails sent via Friendly Automate – over 147,845, an increase of over +178%. The number of tracked pageviews from Friendly Analytics also increased by 16% to a 7-digit number for the first time: 1’096’279.
In August we will continue to improve our products. You can follow our progress in our public backlogs. Planned among other things are:
- More e-mail templates for Friendly Automate
- Tests with Mautic 3 (the recently released new version of the open source solution on which Friendly Automate is based)
- Expansion of the documentation
P.S. We are building Friendly as a profitable and long-term business. In our newsletter we document our journey and share marketing insights. Come join us!