Although 2.5k MRR is great, I want more...My plan of attack

My SaaS Cartfuel hit 2.5k mrr. But the growth has been stagnant.

Although 2.5k MRR is great, I want more.

I want the entire castle. Aka 1M ARR.

I've been thinking about growth loops and how I can implement them into Cartfuel.

The question that's been on my mind for the last two weeks is how can I get my SaaS to work for me 24/7?

So here's my plan.

Currently, Cartfuel has two plans a $37/mo plan and a $97/mo. We offer a 14-day trial but to access the trial users have to enter their CC.

It's been working well. But churn is high. Which is typical when asking for CC upfront. Customers don't want to be charged for a service they don't intend to use long-term or haven't built trust with.

So instead of forcing them to enter CC I'm going to introduce a free plan.

After reading this thread: https://twitter.com/frantzfries/status/1353926637650325505

It makes sense.

I can onboard more customers to use the product all while introducing "powered by" mechanics to initiate an organic growth loop.

Users on the free plan won't be able to turn off "powered by Cartfuel".

So as Cartfuel loads on their site, more people will view the "Powered by" link.

Curiosity brings free leads and more opportunities to convert more people.

Click click boom.

Andrew from MicroAcuire did something similar. He bought a tool called ChimpCharge. He added "Powered by" and was able to grow ARR to 100k.

Proof: https://twitter.com/agazdecki/status/1349564403453026304

Andrew isn't the only one following this method:

Canva
ProfitWell
Loom

And countless of other high-growth companies follow this same model.

My assumption is by introducing the free plan I'll have an opportunity to build trust with more potential customers. Then once I have the trust and they find value in the Cartfuel, they will upgrade on their own.

I did some deep reading on this topic a while back but didn't pull the trigger.

For anyone else caring to read what I read here are some links (not my blog):

https://sixteenventures.com/saas-free-trial-credit-card
https://sixteenventures.com/eliminate-churn
https://sixteenventures.com/customer-success-simple
https://sixteenventures.com/free-trial-metrics
https://sixteenventures.com/saas-free-trial-engagement
https://sixteenventures.com/saas-free-trial-length
https://sixteenventures.com/customer-onboarding

I'm keen to hear other thoughts on this topic. What other growth loops are you a fan of?

Next up, Habit loops. I still haven't figured that one out yet, but I'll update you when I do .

On to the next 1k MRR.