1,000 Users Later

13 Nov 2015

Heads Up Before August 2018 Saber was known as "BugMuncher", so you'll see the name BugMuncher instead of Saber throughout these older posts. You can read more about the name change here - BugMuncher rebrands to Saber.

One Thousand Users. It’s quite a milestone. Kind of a big deal, you may say. Probably one to be celebrated. So why the hell didn’t I notice when it happened?

But happen it did! On the 30th October 2015, I had the 1,000th user sign up for a free trial. So with that in mind, I’ve decided to look back over the last 4 and a bit years.

Fair Warning: This post is going to be stat-heavy, and maybe a little self-indulgent.

All this data covers the period between the 17th July 2011 (date of launch) and 30th October 2015 (1,000th user):

Conversions

Unique Users on Homepage 43,960
Trial Sign Ups 1,000
Sign Up Conversion Rate 2.3%
Paid Subscriptions Started 68
Trial to Paying Conversion Rate 6.8%
End to End Conversion Rate 0.15%

Retention

Average Subscription Length 10.7 Months
3 Month Retention 82.8%
6 Month Retention 63.5%
Longest Subscription 4 years, 2 months

Side note: That 4 year, 2 month subscription is still active!

Revenue

Average Subscription Lifetime Value $219.23
Total Revenue $14,907.32
Average Subscription Monthly Revenue $20.49

Payment details upfront?

When I launched BugMuncher I used PayPal to manage the subscriptions entirely, meaning customers had to provide the payment details to start the free trial. I’m pretty vocally against requiring payment details upfront, and I hated doing it, but it allowed me to launch quicker.

On the 21st December 2011 I removed the payment details upfront requirement, and started managing the free trials in the app. I thought it would be interesting to compare:

Conversions

  Payment details required Payment details not required
Unique Users on Homepage 6,838 37,178
Trial Sign Ups 29 971
Sign Up Conversion Rate 0.42% 2.6%
Paid Subscriptions Started 17 47
Trial to Paying Conversion Rate 58.6% 4.8%
End to End Conversion Rate 0.25% 0.13%

Note: There were actually 21 trial to paying conversions when payment details were required, but 4 of those canceled as soon as the first payment went out, so I’m not including those, as they were probably an accident.

Retention

  Payment details required Payment details not required
Average Subscription Length 11.4 Months 10.4 Months
3 Month Retention 66.7% 90.7%
6 Month Retention 52.4% 69.1%

Revenue

  Payment details required Payment details not required
Average Subscription Lifetime Value $119.76 $263.67
Total Revenue $2,515 $12,392.32
Average Subscription Monthly Revenue $10.51 $25.35

End to end conversions were actually better when I was requiring payment details up front, but 3 and 6 month retention definitely suffered under the old regime.

I was surprised to see that average subscription length was actually longer when payment details were required upfront, but I think that’s because there are a couple of outliers in that group, ie: the ones that started in 2011 and are still active now. As payment details were only required for 5 months, it’s a very small dataset (17 subscriptions), so those two outliers make a big difference. In fact, if I ignore them the average subscription length is just 7.5 months, 34% less.

Not that it matters, I’m still never going to require payment details for BugMuncher’s free trial :)

Today I learned:

Very little actually, but I do enjoy geeking out over statistics. I was surprised to see nearly $15,000 in total revenue, not bad for what was until recently a side-project.

Here’s to the next thousand users, hopefully it will take less than 4 years, and bring in more than $15k!

- Matt


comments powered by Disqus

Saber - Quick and Easy Website Feedback

Start My Free Trial now! No Credit Card Required