How we made $35,000 in revenue in less than 4 months after launch.
We launched Youform 4 months ago, and here are some key stats:
π₯ 4,000 registered users.
π€ $35,000 in revenue.
π $1,200 MRR (Monthly Recurring Revenue).
π 340,000 page views (122,000 in the last 28 days).
We initially offered a $299 lifetime deal and generated $12,000 in total revenue within the first three weeks.
After that, we raised the price to $399 and closed the lifetime deal on June 7th, having made a total of $35,000 in revenue.
During this time, our MRR also grew, even though it wasn't our primary focus. Currently, our MRR stands at $1,200 and is increasing by 1-2 subscriptions per day on average.
Why Did We Do It?
Lifetime deals are often criticized in the SaaS world, and rightly so, because recurring expenses necessitate recurring revenue.
However, the average customer lifetime for a SaaS product is around 12 months, with 24 months considered good.
With a $299 price point, weβve already made a yearβs worth of revenue per customer.
Additionally, form builders can experience high churn due to the low friction in adopting and leaving the service, and many users need forms only occasionally.
Moreover, the customers who paid $299 (or $399) were highly invested in our initial development, providing lots of valuable feedback. Some users whom I will always remember as our great supporters are
@jlogic and
@RoxCodes. They suggested plenty of useful features.
How Did We Do It?
One challenge with selling lifetime deals in SaaS is that people often see it as a sign of failure, thinking the company might soon shut down. Thus, establishing trust in the market is crucial.
We had some advantages compared to a new indie hacker.
@mynameis_davis has decent followers here on X and is well trusted because of his other project Oneup which is doing $1M/year in revenue. This built-in trust factor was a significant advantage from the start.
Additionally, we shipped updates quickly based on user requests and regularly communicated these updates on social networks. This helped us gain trust as people saw that Youform was here to stay and their feature requests would be taken seriously.
Whatβs Next?
We are focused on building features requested by our users. We are already seeing decent traffic and signups (around 40-50 signups a day). So, our goal is to convert these signups into active users and eventually paying customers.