Baird Hall launched Wavve on 1st January 2017, in 6 months they hit $1k MRR and 18 months… $44k MRR.
How?
This posts explains…
I get a weird satisfaction from sneezing.
Straight after the initial panic but before the slight embarrassment – a moment of bliss before I self consciously glance around to see if anyone is looking.
There is a biological reason for sneezing: it removes dirt/unwanted items from your nasal passage.
But this cleansing has secondary consequences: it functions as a communication vector for airborne diseases and… idea viruses.
Your SaaS business can sneeze in two basic ways:
1. Customers love your product so much they sneeze about it to their friends
2. Your product can sneeze as part of your customer journey
#1 happens if you build the best product in the market. Sometimes this is hard if you are up against well-funded competitors.
#2 takes more strategic thinking.
Introducing Wavve: audio wave videos for podcast social posting.
Wavve have a freemium model:
And Wavve’s “Free” plan is a sneezing machine:
Check out this Wavve video by @marbieskitchen
We built at https://t.co/6vQa4nF7tU, you can create your own animated videos (like this one 👆) with waveforms and more to accompany your audio content! Go check it out now!#podcasts pic.twitter.com/YkXqPdT94Y
— Wavve (@wavve) May 30, 2019
(Click the image above to see the video)
Wavve is more than happy to pay server and support costs as new users gain value from the product whilst spreading the word.
If you upgrade to a paid plan, the sneezing remains, just a little bit less obvious.
Like Typeform and Intercom, Wavve’s product produces a distinctive output, though not branded… this still spreads the brand:
Another great excerpt from the latest episode of Freelance to Founder with Baird Hall of @wavve on the @podglomerate network: https://t.co/kdPIdcTOP1 pic.twitter.com/nKBYSrbF7k
— Brandon Hull (@brandonhull) June 11, 2019
Hello beautiful people! For this week’s podcast, we will talk about the ways I try to overcome the feeling of constantly comparing myself and my progress to other entrepreneurs and people in the industry. Listen to the full podcast here at – https://t.co/cq3lbtAqJr 😬 pic.twitter.com/gP9lxxViCO
— Teresa Heath-Wareing (@theathwareing) May 13, 2019
(Click through to the Wavve videos)
If bootstrapping you MUST find a method of making your unit economics more favorable over time…
If not, and customer acquisition cost increases with time, this could happen (assuming stable churn and lifetime value) :
However, if you are able to reduce customer acquisition cost over time through sneezing, this could happen:
Ultimately, fuelling a “wavve” of growth…
What did we learn?
Work out how you can get your SaaS biz to sneeze, not just through customers, but through the product itself.