As December begins and November winds down we wanted to reflect on our progress by the numbers since we launched KingsCrowd. Below we have highlighted some key KPIs metrics we track and what we feel they say about the business.
Total Website Visitors: 300% growth to 52K+ web visitors in November
One of the cool things about running an independent startup equity rating website is that startups love us. The fact that we conduct our own due diligence and receive $0 payment from startups or platforms means that our ratings really mean something.
Why this is relevant is that a great deal of the spike in growth seen above in visits over the past couple of months comes from a handful of startups that decided they wanted to promote their deal rating report because they found it so valuable.
We had no say in the matter at all and when we reached out to the founders they said the rating report was helping to raise capital. One of the campaigns that has been advertising our rating report has gone from $33K in investment to $69K since publicizing the rating.
Whether or not we can attribute all of these gains to us, I don’t know. However I do know that this is a great sign for our business model. We have been able to grow our website visits over 300% without expanding the marketing budget.
Creating use cases like this will likely lead to other startups doing so similarly on their own accord and help us to grow efficiently.
Total Newsletter Subscribers: 120% growth in subscribers
Thanks to the growth in website visitors and our acquisition of Crowditz, we have been able to expand our newsletter subscribers to nearly 2K. In the past we have found that most of our customers are individuals who join the newsletter and eventually convert as they become more familiar with our content.
With this large spike in subscribers recently, we are hopeful that we can execute on driving meaningful conversions in the coming months to paid subscribers.
What excites us about the above numbers is that we don’t think we have even begun to scratch the surface of what we are capable of as we haven’t even started pushing our digital marketing strategy, nor have we started to turn on the distribution channels we are currently working to open through partnership (e.g., financial publications, independent IRA accounts). This is to say we are only getting started.
Annual Recurring Revenue: Approaching $10K in ARR
While we have not worked to heavily push paid subscriptions in the early days in order to attract more users and build trust with the equity crowdfunding community, we are proud to say that we are quickly approaching $10K in ARR.
Having early paying customers that often tell us how helpful our rating reports are, we think is a sign that we are finding product market fit.
Another interesting stat, over 60% of our paying customers opt for our highest cost membership and almost a third are paying for a full year upfront. Early traction is a positive sign, and we’ve yet to launch our core product!
We think that the above metrics indicate signs of a really intriguing business that is only in its infancy but is showing its potential to become a sizeable and intriguing business.
In order to continue to accelerate growth of the above numbers we are focused on the following:
Integrate Crowditz analytics / capabilities into KingsCrowd
Built out institutional analytics product (custom pricing)
Complete development of the KC rating platform (priced at $50+/mo.)
Add product features (e.g., talk with an analyst)
Here is to an exciting future.
All the best,