📝 From The Blogs
It's rare that a company can go through so much turmoil and still survive. It's even more rare that a founder can go through so much turmoil and still survive. Sahil gives a tell-all about the journey of building Gumroad. From a promising start with millions in capital, to layoffs and restructuring, and then to profitable business with vision. "For the type of business we were trying to build, every month of less than 20 percent growth should have been a red flag." It's important to know why you're marketing.
One of the first things I've done at Baremetrics is to write out manifesto. A single, guiding document that I can point myself and others back to. Would love to hear your thoughts!
Hull recently shifted their model from "request a demo" to "start your free 14-day trial." Through the process, they've gotten a super unique insight into how the two compare and how to make the most of a free trial. What's most interesting is how they architect it. You always hear about the end result — the emails, the experiences, the onboarding — but you never hear about the setup, the cadence, and how tools are working together.
Not only is this a fascinating insight from the CEO, but also a rare insight into how changing the model helped propel growth for the company. When Matthieu came on board as CEO, he replaced their freemium model with a free trial and increased the prices of both plans that users would upgrade to. What happened? The number of signups remained the same. The conversion rate from ~free to paid stayed the same. The MRR increased 5x and they became profitable. Model matters.
Here's a great breakdown of the onboarding experience from one of the SaaS industry's leading onboarding experts. Enjoy!