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Hello Entrepreneurs and Forum people,
about 1.5 years ago my wife and I started our first "real" business.
Our mission is to improve the lives of families with small children (being parents ourselves) and especially stay-at-home moms.
We currently offer an online subscription model with a monthly fee of 10 bucks and have around 100 paying customers/month. Growth rate ~6 new user/month.
Our main "marketing channels" are Podcast, Blog and Instagram and we also have an affiliate program.
The money we invest is mainly used to create more value for our customers and I'd say that most of our customers are very happy with our service. Even those that are cancelling the subscription most often tell us that they "will come back" (Not sure if true).
As you can imagine - the money we earn (after taxes, payment services, investing) does not allow us to work full time on our business (not even close). So we are still employed in our jobs and can only work on our business on the weekends or at night. Given the growth rate and the earnings per user it does not seem that this will change in the next years. From my current calculations we would need to have ~ 1000 customers/month so we could make this our full time job.
Since I would not say we have a "value problem" because of our happy paying customers I think the problem is that we can't communicate this value at scale with our current marketing channels.
So I am hoping that some of you can maybe get us some fresh input how we can scale our service - at best to the volume where we can work full time on our business. After this point we could put much much more work and effort into this.
Some questions that we are asking ourselves right now:
- Should we continue to invest in creating more value or put the money in marketing?
- Should we get some help from "marketing specialists"?
- Does it make sense to pay for advertising (Facebook, Google, ...) for our kind of business model and subscription fee?
Any help is highly appreciated also if you have any tips feel free to share your thoughts!
Thanks!
about 1.5 years ago my wife and I started our first "real" business.
Our mission is to improve the lives of families with small children (being parents ourselves) and especially stay-at-home moms.
We currently offer an online subscription model with a monthly fee of 10 bucks and have around 100 paying customers/month. Growth rate ~6 new user/month.
Our main "marketing channels" are Podcast, Blog and Instagram and we also have an affiliate program.
The money we invest is mainly used to create more value for our customers and I'd say that most of our customers are very happy with our service. Even those that are cancelling the subscription most often tell us that they "will come back" (Not sure if true).
As you can imagine - the money we earn (after taxes, payment services, investing) does not allow us to work full time on our business (not even close). So we are still employed in our jobs and can only work on our business on the weekends or at night. Given the growth rate and the earnings per user it does not seem that this will change in the next years. From my current calculations we would need to have ~ 1000 customers/month so we could make this our full time job.
Since I would not say we have a "value problem" because of our happy paying customers I think the problem is that we can't communicate this value at scale with our current marketing channels.
So I am hoping that some of you can maybe get us some fresh input how we can scale our service - at best to the volume where we can work full time on our business. After this point we could put much much more work and effort into this.
Some questions that we are asking ourselves right now:
- Should we continue to invest in creating more value or put the money in marketing?
- Should we get some help from "marketing specialists"?
- Does it make sense to pay for advertising (Facebook, Google, ...) for our kind of business model and subscription fee?
Any help is highly appreciated also if you have any tips feel free to share your thoughts!
Thanks!
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