$650k Raised, Finland SaaS Company, 600 Customers with PromoRepublic.com

max-pechersky

In Episode #403, Nathan interviews Max Pechersky, co-founder of PromoRepublic. His company focuses on helping marketing freelancers get new ideas and strategies for content marketing. As PromoRepublic continues to grow, the company is stretching its boundaries to provide more products for freelancers.

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Famous Five:

  • Favorite Book? – Intercom on Product Management
  • What CEO do you follow? —
  • Favorite online tool? — Wunderlist
  • Do you get 8 hours of sleep? — Almost never.
  • If you could let your 20 year old self know one thing, what would it be? — It’s ok if someone doesn’t like me.

Time Stamped Show Notes:

  • 01:20 – Nathan introduces Max
  • 02:05 – The co-founder of PromoRepublic
  • 03:00 – He owns thirty percent of the company
  • 03:20 – It’s a software service that helps with content marketing.
    • 03:45 – Solving the frustrations of marketing freelancers
  • 04:10 – The business was founded at the end of 2013
  • 04:45 – First year total revenue – 30000 euro
    • 05:00 – Now he has 10k in recurring revenue
  • 05:50 – Total customers: 600
    • 06:10 – Customer pricing is about $12 per month
  • 07:00 – $650000 raised
    • 07:30 – It was a grant and a soft loan.
  • 08:00 – Churn monthly is 8%
    • 08:50 – They had to decide which customers to focus on
    • 09:30 – They moved to freelance marketers
  • 09:50 – It’s about $100 in acquisition cost
  • 10:30 – The average person stays for about a year.
  • 11:14 – Additional revenue streams
    • 11:25 – Social media templates
    • 11:40 – Like stock photos for social media posts
  • 12:00 – Max@PromoRepublic.com
  • 13:30 – The Famous Five

3 Key Points:

  1. Channel your product toward a specific market.
  2. When you start to see success, look for additional revenue streams.
  3. Come up with an idea that solves a fundamental problem.

Resources Mentioned:

  • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.