Secrets to $83,333 MRR

jasonleow  •  24 Mar 2024   •    
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The secrets to $83,333 MRR, kudos to Damon Chen of Testimonial.to:

Testimonial users are mostly businesses, so it has a lower churn rate. People who use it will also put a testimonial widget on their website, making it a sticky product. The product itself has PLG mode and viral elements/growth hacks to grow on its own. I can’t take too much credit for its growth; the market and our target audience also play significant roles. – @damengchen

So is this the secret combo of attributes in a successful product?

  • B2B (so less churn)
  • Product-led growth (the product being shown on customers’ sites drives marketing)
  • Users backlink to you (through the widget or branding shown on free tier)
  • Ubiquitous function (e.g. everyone needs to collect & show social proof)
  • Elements of virality (e.g. viral video testimonials from customers)
  • Works well with affiliates (to spread the word of mouth, organic backlinks)

Products like Dropbox are great existing examples of this. The refer a friend and get 5GB more storage space method of product-led growth is just brilliant. Mailchimp’s badge at the bottom of every email that gets sent out is another great PLG hack. I know a founder making a 0% commission alternative to Gumroad, pretty much following the same playbook.

Any other product ideas that follow the same thread?
(But if you know you wouldn’t tell me because that would be your secret!)

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