Time flies when you're having fun! Now that June is over I'd like to walk you through what happened for ConvertKit in the last 30 days. This month we focused heavily on product development and released great new features even faster than normal. But before we get into that let's talk revenue and growth.
Monthly recurring revenue grew $1,700 (20%) to $10,146. I always said that $10,000 per month is the number I considered something a real business—so it's great to be above that.
I'd like to see a higher growth percentage than that (for most of the month we were showing 25%+), but we were so focused on development for the second half of the month that I just didn't stay on top of sales and marketing like I should have.
Our churn rate is unfortunately high partially due to two spam accounts that signed up (which we canceled immediately), but they represented $550 in MRR. So even though they were never real customers, they still show up in Baremetrics.
Also because we don't offer a free trial a lot of tire kickers show up in our churn numbers. Many of these accounts have been customers for less than 30 days. But that also tells me we need to be better at retaining small accounts.
Our customer count grew 11.6% to 154 customers. We continue to add more customers on more expensive plans, which means revenue grows much faster than customer count.
For marketing this month I kept working on direct sales, but not with the same effort as before. My plan is to ramp it up again in July. I also started doing webinars in the last week and a half.
A friend said that even if I run a small webinar with 3 people on it then it's more efficient than individual demos. With that in mind I've done two webinars with decent attendance. My plan is to do one each week to really refine my script and process before starting to do partner webinars.
I'm also putting the finishing touches on a new podcast about marketing and growing your audience. More details coming soon.
It was a crazy month for development. We released more high-value features in the last 30 days than ever before. It feels good to be innovating faster than any other email marketing company.
RSS to Broadcast
We kicked off the month by releasing the highly requested RSS to broadcast automation. Now when you post to your blog that content will automatically appear as broadcast in ConvertKit ready for you to send.
Redirect to thank you page
To optimize ongoing sales on your site it helps to make a product pitch immediately after someone signs up. This is now really easy since you can redirect someone to a thank you page (with that pitch). This is especially great if you do paid acquisition and want to recoup some of your investment immediately.
Increase your open rate in 60 seconds
What do you do with all the people who don't open your email? After customer suggestions we worked on a really simple, clever solution to increase your open rate in a few clicks. Basically we'll help you resend your broadcast just to the people who didn't open your first email.
It's a powerful feature that increases revenue, available with just a few clicks.
Last, but certainly not least, we released tags. This is the big one that moves ConvertKit to a new level as a marketing automation company. Now you can track and segment your subscribers in ways you never could before.
I wrote down a bunch of use cases to get you started.
Each month we feature a few ConvertKit customers we think are doing really great things. This month I want you to meet Michael, Gavin, and Tom.
When I first started learning Ruby on Rails I read Michael's book. It is the book for getting started with this powerful development platform. Now, years later, I'm honored to call him a friend and customer.
Gavin Aung Than
I first learned about Gavin when he spoke at the World Domination Summit last year. His story of growing an audience around compelling, inspirational art was fantastic. Now he uses ConvertKit to reach his rapidly growing audience.
Tom has been innovating in the indie-publishing world for a few years. I started following his work after he launched the Pay What You Want Pricing Guide. It's great to have him as part of the ConvertKit family now.
That's it for June. We're already working on some pretty special things for July. Stay tuned!