Month Five: StatsPosted: August 18, 2010
Time for another installment of the monthly stats report:
We launched to beta just over five months ago and I’m happy to report that we have over 750 activated users of myTooq.com. Now, for someone who reads Techcrunch and ReadWriteWeb and a bunch of other blogs almost every day, our numbers are not so great. Seeing others first day of beta receive numbers like ours over five months can be tough. Of course, we haven’t had coverage on TC or RWW. We’re also not something an individual signs up for just to try out one might with Twitter or Facebook or Groupon, (BTW Groupon launched in Edmonton last week. I love the idea so far and the deals look very good).
However, Tooq is bootstrapped, and we’re signing up businesses (often one person businesses, but businesses regardless). Being an “un-funded” company means watching the budget. I’ve been trying to reduce our ad-budget every month for several months trying to stay alive long enough to hire and ramp up my own developer (Richard), fix the few minor bugs we had during beta and hook up our subscription service so we can actual collect some revenue. This has all taken longer than expected, as everything always seems to, and so each month our traffic has dropped. While this gives me a few regrets about posting numbers here each month, and can be a little disheartening to see, I’m at least intimately familiar with the reasons for the decline and know that it is alright.
Having businesses sign-up is just as tough as I expected. Even a small contractor that has been around a while is likely to already have a solution, likely having been roped into spending too much money for an over-priced, over-featured, desktop install software that provides him an opportunity to spend several hours per year searching online for support or exchanging pleasantries with their support. In some cases, they work from a paper invoice book or Excel, and of course, some are using other online services. The challenge for me is to find those just starting out and looking for a solution, or show people using something else, how we are virtually pain-free and less expensive. More on this in a future post.
There is some light at the end of the tunnel however, as we expect to have Recurly, our subscription service, ready to go for the first of September at which time, all of my projections on conversions and sign-ups and how many people are willing to pay for the service guesstimates will have a bit of a solid foundation. After the first few weeks, I can start refining my models and shape a clearer view of how much runway we have. With a little luck, my projections will have been close and we get to continue on our way.
Anyways, onto the stats:
July 16 – August 15 (prior 2 months in brackets)
1411 (1577 , 1747) Visits – Down due to budget and easing the focus on gaining new traffic. There was actually a small increase again in the last week of stats as I changed over from CPC to CPA on Adwords.
7391 (7567, 8261) Pageviews – Down from last month as expected, but ratio is better.
5.24 (4.8, 4.73) pageviews per visit – Very happy with breaking the 5PPV mark. Seeing a lot more users go much deeper into the site.
3:19 (3:26, 3:05) time on site – Not too bad here. Seems about average.
86.75 (85.94, 88.95 %) New Visits – Back up a little here. Lots of new visits after the change to CPA
128 (127, 140) Completed Goals – This has been holding. The change in the last week is showing a lot more traffic again and therefore conversions. In fact, we’re seeing just over 10% of our site visits signing up, which is great. Take into consideration that some of those visits are from existing users and we seem to be garnering sign-ups at a very good rate.
Top 5 countries by traffic: USA, Canada. South Africa, UK, Australia (US, South Africa, Canada, UK, Australia Previous: Canada, UK, USA, South Africa, Australia)
That’s it for now. Blog should be a little busier over the next couple of weeks with another live push before the end of the month, some product and company updates, the Recurly launch, some Ad news, and a bunch of other things.
Thanks for reading.