850: SaaS: How Promorepublic Went From $6k to $20k MRR
Max Percherskyi. He\u2019s a passionate SaaS entrepreneur whose mission is to connect professional SaaS companies and startup hubs to help them form long-term relationships and good, win-win partnerships. Currently, he\u2019s connecting angel institutional investors, cofounders, exceptional talent and partner companies across three different countries to make the PromoRepublic ventures succeed at a global scale. Prior to cofounding PromoRepublic, he worked in marketing agencies for ten years and was responsible for business development, digital marketing and sales.
Famous Five:
- Favorite Book? \u2013 Top 101 Growth Hacks
- What CEO do you follow? \u2013 Jason Lemkin
- Favorite online tool? \u2014 WorkFlowly
- How many hours of sleep do you get?\u2014 7
- If you could let your 20-year old self, know one thing, what would it be? \u2013 Max would tell himself that not all people will love him
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Time Stamped Show Notes:
- 01:37 \u2013 Nathan introduces Max to the show
- 02:22 \u2013 PromoRepublic is a social media content automation tool that helps SMBs create their social media presence
- 02:38 \u2013 PromoRepublic is a SaaS business
- 02:45 \u2013 Pricing starts at $15 a month for an annual package
- 02:55 \u2013 ACV is $20 a month
- 03:00 \u2013 Max was in Episode 403
- 03:27 \u2013 PromoRepublic will soon have a $100 plan
- 03:53 \u2013 CAC is now $150-170
- 04:18 \u2013 Paid channels spend varies every month
- 04:33 \u2013 Affiliate network is the one that is working now
- 05:28 \u2013 PromoRepublic has raised $1.85M in total
- 06:12 \u2013 Team size is 22
- 06:26 \u2013 PromoRepublic has 3 offices
- 07:30 \u2013 PromoRepublic hired a sales guy to sell their high value plans
- 08:29 \u2013 There\u2019s commission for every plan sold
- 10:00 \u2013 PromoRepublic has around 5,500 customers, 3000 are from AppSumo
- 10:32 \u2013 Most of the customers from AppSumo just bought the product; some are active, some aren\u2019t
- 12:33 \u2013 Last month\u2019s MRR was $20K
- 12;54 \u2013 Logo churn is around 5.8%
- 14:07 \u2013 2016 revenue was \u20ac110K
- 14:33 \u2013 2017 total revenue will be around $300K
- 15:08 \u2013 PromoRepublic is going to receive a grant and will take an additional loan
- 17:25 \u2013 The Famous Five
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3 Key Points:
- Your team size must align with your profitability.
- Paid advertising takes time\u2014test to see which ads will work the best.
- Use your capital wisely.
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Resources Mentioned:
- Simplero \u2013 The easiest way to launch your own membership course like the big influencers do but at 1/10th the cost.
- The Top Inbox \u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
- GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
- Klipfolio \u2013 Track your business performance across all departments for FREE
- Hotjar \u2013 Nathan uses Hotjar to track what you\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
- Acuity Scheduling \u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
- Host Gator\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
- Audible\u2013 Nathan uses Audible when he\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
- Show Notes provided by Mallard Creatives