The Yottled Journal – December

If you’ve landed on this page and you’re a coach, we can’t thank you enough for helping us achieve this.  It’s because of you that we will be successful.  If we can help you in anyway, if this is confusing, you have questions, or want us to learn something from you, Trevor’s email is trevor@yottled.com and Will’s email is (you guessed it) will@yottled.com. 

What is this?

Will and I thought we would take the time to share what we’re doing from the business perspective.  What we’re learning each week, trying to do with our customers, and how we’re trying to make Yottled successful.

Who is likely to read this?

We would expect anyone in the tech industry to benefit from this blog.  It’s an update of what we’re trying.

Some context before reading further

Will and I are two people that want others to succeed. Our goal is to enable others to make money…and we want to make money too. We’re investing our own money and time to make this as delightful as possible. We have a small about of pre-seed money and we’re laser focused on retention, delighting our users, and making sure we’re simple and easy to use.

What has been done so far?

Check out our previous posts:

We’ve redone the layout to give a better state and understanding of our business.

What we did in December

Launch a New Add-On

We met with 20 customers and learned that billing on a recurring, monthly basis was hard for the average consumer. Stripe makes it easy for tech…not so easy for the person with no tech experience. Even more so, they wanted to provide custom options and packages. Such as x classes per week or y private sessions per month. All other membership options use “unlimited”.

We launched the add-on:

The tiered roll out allowed us to test pricing, validate use cases, and find bugs. Right now, we’ve settled in at:

We estimated 3% of our customer base upgrade each month to the Memberships add-on. We’re seeing in the first weeks a much higher adoption rate. We’re not getting too excited yet as this could largely be from seasonality in December.

Metrics and Baselines

We’re now in our 4th month since we started charging customers and we have reasonable baselines for our first edition we launched. What we’re seeing:

Let’s talk about our pricing model for a sec. We have made a decision to price our product with a per month cost. No percentage of income. Our customers love it…but it does make it harder for us to recover payments due to unintentional churn. Right now…that’s okay. If we have not done our job, we don’t deserve the payment. Our customers should be overwhelmed with delight that they want to pay us.

What are we going to do in January?

As always, if you have advice for us, send us a note to hello@yottled.com and we’d love to hear from you.

Best,

Trevor and Will