Which areas can you tweak in your SaaS business to immediately impact growth? In this video, I’m going to share 6 pricing and product strategies to rapidly increase monthly recurring revenue.
DOWNLOAD: Precision Scorecard™ – Keep Your Leadership Team Focused & Accountable To Growth – http://bit.ly/2C8MMtW
Let’s connect on…
Can we talk about your MRR for a sec?
If you’re like most founders I coach inside SaaS Academy, chances are you:
1. Obsess about growing it
2. Overcomplicate how to do it
Truth is, if you’re experiencing a plateau in your MRR, it probably has much less to do with your company’s growth potential, and everything to do with how you’re over-complicating the process of tapping into it.
In this week’s episode, I cover the 6 things you can do TODAY to increase your MRR and set yourself up to toast to a record-breaking ARR in 2019.
At a high level, here are the 6 things I absolutely want you to start considering:
1. Raise your prices
2. Ditch the free plan
3. Unbundle features
4. Remove unlimited features
5. Move up market
6. Maximize upselling
Now before you start eye-rolling at me through the screen, I really want you to consider the potential impact of raising your prices.
I recently had a client who was charging a cringe-worthy $6/mo for a software that his clients were literally running their business off of.
Meaning, the price to value match was severely skewed against him.
If he bumped that up to a VERY reasonable $25/mo, sure there’s a chance that he’d lose about 10-15% of his clients…
But the net effect would literally be game-changing for him and his company.
If you do nothing else, I’d love for you to take a look at your lowest price tier and just imagine what it would look like if you 2x, or even 5x’d it?
What % of customers could you afford to lose while STILL doubling your MRR?
The quick table-napkin math could literally be the tipping point for your software company this year.
Once you’re done, watch the full episode here, and then drop me a comment letting me know ONE thing you plan to implement this year to increase your MRR.
Dan “blasting through MRR plateaus” Martell
Don’t forget to share this entrepreneurial advice with your friends, so they can learn too: https://youtu.be/-FkOqjIMRkU
ABOUT DAN MARTELL
“You can only keep what you give away.” That’s the mantra that’s shaped Dan Martell from a struggling 20-something business owner in the Canadian Maritimes (which is waaay out east) to a successful startup founder who’s raised more than $3 million in venture funding and exited not one… not two… but three tech businesses: Clarity.fm, Spheric and Flowtown.
You can only keep what you give away. That philosophy has led Dan to invest in 33+ early stage startups such as Udemy, Intercom, Unbounce and Foodspotting. It’s also helped him shape the future of Hootsuite as an advisor to the social media tour de force.
An activator, a tech geek, an adrenaline junkie and, yes, a romantic (ask his wife Renee), Dan has recently turned his attention to teaching startups a fundamental, little-discussed lesson that directly impacts their growth: how to scale. You’ll find not only incredible insights in every moment of every talk Dan gives – but also highly actionable takeaways that will propel your business forward. Because Dan gives freely of all that he knows. After all, you can only keep what you give away.