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How We Increased our Renewal Rate by 154% – Transparency Report 7 (July 2015)

This is our monthly report where we share our business insights as part of our transparency policy.

Updates

In July, we shipped 1 minor version. There were some holiday periods which explains why we didn’t publish a lot of updates 🙂

Revenue

  • $90 192 in revenue (+69%)
  • 1 330 orders (+38%)
  • 483 renewals (+154%)
  • 850 new customers (+26.9%)
  • 3 813 websites add (+23.7%)

As you can see, these are great numbers showing huge growth. This can been explained by 4 main reasons :

For our 2nd anniversary celebration we offered a one-day only, 30%  discount (and 20% for Independence Day)  on all licenses, and a special deal on renewals : for 2 year renewals we offered 6 extra months, and for 4 year renewals we offered 1 extra year.

This worked very well, we did $15 733 during the anniversary day promotion with 162 renewals! On Independence Day we did $7624.

Here is the email, we’ve sent for our anniversary (this is the email for the business licences segment):

renewal

The renewal offer worked very well, a lot of customers directly renewed for 4 years.

We’ve already explained in a previous report, that we would like to propose automatic renewals for our customers. Indeed an important renewal rate would increase a lot our monthly revenue.

So before setting-up automatic renewals, we’ve added new renewal offers in our website :

renew-my-licence-account

We’ve learned a lot on how to increase renewals thank’s to our promotional emails, so we’ve decided to put what we learned directly on our website.

Before it was only possible to renew for one year, now customers can directly renew to 2 or 4 years. This is working, we’ve already customers who are renewing for more than 1 year!

We know that this month is exceptional regarding to revenue and next month will certainly not be as good.

To give some perspective, last year in July we did $20 276, and we beat that revenue in September.
Let’s see if we can do the same this year!

Statistics from January 2015
Statistics from January 2015

Content marketing strategy

We are continuing to focus on our blog posts to create great content. We are super happy to see that every month more and more people are visiting our blog.

blog
Traffic on the blog

This strategy requires a lot of time in order to write good content, but the growth we have leads to more tickets to handle so there’s less time to write blog posts.

So we are hiring new teammates to join us!
At the same time we’re going to request content from freelance WordPress writers to increase the frequency of  new blog posts.

Support/Happiness Report

This month we had 510 support tickets (+23%). This is fortunately not a big increase compared to the increase in revenue, so that’s good news!

We are working hard on creating new documentation posts to educate our customers as much as possible. We frequently repeat this, but good documentation is absolutely mandatory.

There is one thing we want to do with the documentation which is to translate it into several languages. At the moment we only have documentation in English documentation and we used to think this would be ok.

A talk at WordCamp Europe, about the importance of having documentation in multiple languages, changed our mind. So we’re going to translate it into several languages very soon!

This will be definitely better for our non-English customers.

Our first response time  increased this month. Lots of new tickets, and holidays for part of the team didn’t help our response time.

respond-time

Our Happiness Score decreased too. We’ve naturally discovered that when we get a lot of tickets to manage we are less patient and effective.
Hiring new teammates will definitely help 🙂

hapiness

Lucy won (again) our internal happiness score competition, congrats to her.

By the way, we’ve launched the official website for our startup, let us know what you think : http://wp-media.me

About

WP Rocket cofounder, I love Startups, Coffee, Italian Food and Python (not necessary in that order).

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6 comments

Comment

Congratulations guys for achievements, you are really advancing, keep up with the good work, especially on WP Rocket Road map!

Your new site is awesome, we like it… and it is very fast 😉

great read, thanks for sharing these informations!

Hey guys,

Congrats, I am sure that things will be even better in the coming months, probably at least 50% growth in the next 6 months!

Thanks for the tips on the renewals, we are doing an awful job here.

Great. Keep up the good work.
This was one of the reason I bought the Plugin. Really happy with the plugin.

I think it could be much more growing if you have an Affiliate program. I think it is not problem with honest review as the Page Speed actually can prove.

Thanks for sharing this insights inspirational stuff, I am also one of those happy customers too:)

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