Our revenue grew +8% to $7,678, Friendly Analytics received a major upgrade and we sent more emails than ever before: welcome to our Open Startup report for February 2021.
February at Friendly in the Numbers
- 💵 MRR (Monthly Recurring Revenue): $7,678 (+8%)
- 🤝 New Customers: 8 (-11%)
- 🤩 Upgrades: 1 (-67%)
- 💔 Churn (cancellations): 6 (+500%)
- 👩 Active customers: 59 (+4%)
- 👋 New Trials: 6 (-46%)
- 🔎 Website Visits: 2,262 (-12%)
- 📮 Emails Sent (Automate): 611,555 (+23%)
- 📈 Pageviews Tracked (Analytics): 1,119,616 (-1%)
- 💸 Costs: $9,352 (+4%)
- 🧾 Profit and Loss: -$1,674 (+8%)
This is what moved us in February:
Revenue and costs up +8%
After several months of double-digit growth rates, our monthly recurring revenue (MRR) nevertheless increased by a further +8% to $7,678.
Our costs also increased, among other things due to slightly more expenses in hosting and software. Therefore, we are still not profitable, with a loss of -$1,674.
Here are all our costs in February in detail:
Improved email editor for Friendly Automate
As announced, we have already upgraded many customers to the new version of Friendly Automate (based on Mautic 3.3.1) in February. As a result, our customers benefit from an improved editor for emails and landing pages.
An important change in the new email editor is the use of MJML. This standard makes it easier to create responsive email templates – templates that render perfectly on a wide variety of devices and email clients without any “hacks” (hello, Outlook 😉).
Because of this change, however, existing templates must be adapted once. Therefore, we do not update all customers to the new version at the same time and immediately, but gradually, so that our customers and we have enough time to convert the templates.
So if you are a Friendly Automate customer and would like to have the new editor as soon as possible, feel free to contact us and we will prioritize your upgrade if possible.
Upgrade to Friendly Analytics
Friendly Analytics is based on the open source software Matomo. In February, we updated all customers to the new version 4.2 of Matomo.
The upgrade brings privacy and security improvements – and support for emojis in page titles.
New email sending record
In the month before last, our customers sent almost half a million emails through Friendly Automate. This represented an increase of over 200%.
We were able to increase this number by another +23% in February to an unbelievable 611,555 emails.
Friendly celebrates first anniversary
We celebrated our first anniversary. I founded Friendly a year ago in February.
I would never have dreamed where we are just 12 months later. Nearly 60 customers rely on our software and we generate close to $85,000 in annual recurring revenue (ARR).
I took this opportunity to look back at the highlights of Friendly’s first 12 months – here they are:
Top 10 Marketing Automation Tools in 2021
When choosing a marketing automation software, functionality plays a big role. At the same time, the importance of data security and user privacy is growing in 2021.
In our overview from February, we presented the currently 10 most relevant tools with their benefits and drawbacks:
In March we are still working on updating all Friendly Automate customers to the new version with the improved editor. And are curious what else will come up.
P.S. If you enjoyed this, you might like our newsletter. We share insights from our journey as a bootstrapped open startup, marketing best practices, and Friendly surprises!