10 Things That Drove 25% Revenue Growth in 3 Weeks
Our Q1 goal was to grow revenue by 25% by the end of March. We got there in 3 weeks! 🎉
2023 has definitely started with a bang here at StoryPrompt.
Here are 10 things that contributed to our growth:
1. Personalised demos for everyone
We manually reached out to every new sign up and offered them a consultative call, boosting our conversion rates!
2. Generous referral program
We introduced two referral programs — one of them paying up to 40% commission!
3. More urgency with time-based discounts
We introduced urgency by giving discounts to all users who upgrade within 14 days of signing up.
4. Built-in virality
We have a lot of free users sharing StoryPrompt-branded links to collect videos. This brand awareness compounds over time.
5. Community-led growth
We keep our user community up-to-date on new product updates, best practices, and our roadmap. And our team is always available to answer any questions.
6. Quick product iterations
Thanks to our user community, we easily surface the most popular requests and release features quickly. We added 8 big features in the last month alone!
7. Focus on high-intent keywords
We’ve produced well-ranked SEO content that’s further down the funnel, focused on prospects who are already at the consideration stage.
8. Product-led growth
We deliberately built a simple product with in-app education. Users are signing up, quickly seeing the value, and upgrading.
9. Self-service white labelling
Users can rebrand StoryPrompt from within the product. This has opened a whole new market for us, from large enterprises hosting asynchronous meetings to video dating sites.
10. Integration with 5000+ apps
Since launching our Zapier app, we've added endless possibilities to the way people can use StoryPrompt, not to mention co-marketing opportunities.
❤️ Wall of Love
We’re planning to launch our much-anticipated Wall of Love feature very soon.
We haven’t done any paid marketing yet and since we offer a freemium product, we think remarketing to free users is crucial.
On that note, know any good remarketing experts? Reply to this email.
Until next time,
P.S. I've started accepting applications for my new mastermind group launching later this quarter that also includes 1:1 coaching with me. It will be online and asynchronous – no Zoom meetings. Read more and grab a spot.
Thanks Lesi! I can definitely go deeper into each of these and will do in future issues.
There is so much value packed in these ten points. A follow-up post dissecting each of these points will be great. I believe there is so much to learn from the execution of each strategy. Congratulations to you and your team for crushing your Q1 goals.