9 lessons learned from scaling a new product to $1M ARR
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Yaroslav Stepanenko, Product Marketing Manager at MacPaw, shares his knowledge on scaling a new product to $1M ARR.
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9 lessons learned from scaling a new product to $1M ARR
- 1. Product Marketing Manager, MacPaw setapp.com Co-Founder, SaaS Sauce saassauce.com
- 2. Setapp
- 3. 9 lessons learned from scaling a new product to $1MARR:
- 4. Product launch should be exclusive Lesson 1
- 10. Our GTM Strategy Invite-only-Beta Closed Beta Public Release Exclusively for: • press • thought leaders • bloggers/vloggers
- 11. Our GTM Strategy Invite-only-Beta Closed Beta Public Release Exclusively for: • press • thought leaders • bloggers/vloggers For users
- 12. Our GTM Strategy Invite-only-Beta Closed Beta Public Release Exclusively for: • press • thought leaders • bloggers/vloggers For users Loud launch • press is already “prepared” • users are dying to try
- 13. 1. Too short beta phase 2. Didn’t learn enough about users during beta 3. Didn’t make enough findings from the first users’ feedback Our Mistakes:
- 14. "who this is for now" should be clearly defined Lesson 2
- 15. Lesson 2 "who this is for now" should be clearly defined Innovators Early Adopters Early Majority Late Majority Laggards
- 16. And here we go…
- 17. CAC = $3,750 CAC : LTV :-(
- 18. • Define who the Early Adopter of Setapp is • Run marketing just for them How it all should have been done Innovators Early Adopters Early Majority Late Majority Laggards
- 19. All the teams should understand who the Early Adopters are What else is important?
- 20. All the teams should understand who the Early Adopters are What else is important?
- 21. Not all the metrics are equally useful Lesson 3
- 26. “North Star” is needed Lesson 3
- 27. 1. Month over Month Market Share Growth • # of paid users 2. Month Over Month Profit Growth Lesson 3
- 28. Onboarding and user retention are important Acquiring a user is only half the battle Lesson 4
- 29. 1. Found the best flow 2. Applied it to several segments Our mistakes
- 30. The results of work on mistakes 12,71% 54,35% 14,81% 7,11% 32,24% 8,35%
- 31. 1. CAC 2. LTV 3. Churn Rate Why it is important
- 32. Build community around the product Lesson 5
- 34. • Additional user acquisition channel: • word of mouth • Loyal users’ help: • questionnaires • user interviews • instant feedback • usability testings • beta tests Why it is important
- 35. Referral program — that's what should definitely be launched Lesson 6
- 36. Referral program — that's what should definitely be launched Lesson 6 1 user brings 2,3
- 37. • Free users • "Maneuvers" around CAC • Virality Why it is important
- 38. How to understand that it’s time to localize Lesson 7
- 42. Annual account Lesson 8 “For me it is just easier to pay annually” Tom Hartman, Web Developer
- 44. 1. Product launch should be exclusive 2. "who this is for now" should be clearly defined 3. Not all the metrics are equally useful 4. Onboarding and user retention are important 5. Build community around the product 6. Referral program — that's what should definitely be launched 7. How to understand that it’s time to localize 8. Launch different packages 9. Team structure - who and how should be involved 9 Lessons