Building a following on social media is incredibly valuable for any business, brand, or person looking to step up their influence. Having a strong digital presence can help generate impressive revenue in both the short and long term, if done correctly.
Thankfully, TribeBoost was created to help businesses grow their audiences on social media the right way. Their service helps startups, SaaS businesses and other influencers extend their reach on social media and deliver targeted, high-quality content to their followers.
How much is TribeBoost doing in MRR?
TribeBoost combines software with human touch to provide its customers with a subscription service, billed on a monthly basis. While individual plans begin at $148 per month, the company partners with agencies and provides volume discounts. On average, customers pay TribeBoost $40 per month for access to their platform and services.
According to CEO Kevin Strasser, the company is serving 300 total customers today and is doing $12k in MRR right now. Due to platform changes on social media, business has contracted over the last year for TribeBoost, with revenue being cut in half in the last 12 months.
What is TribeBoost’s churn?
TribeBoost is exhibiting 10-12% gross revenue churn per month at this point in time, Strasser explained. This volatility is commonplace in the industry and has driven the company’s decision to focus more on content creation as a service.
In terms of customer acquisition, TribeBoost no longer allocates resources to paid advertising despite having success through Google Adwords in the past. Today, all leads are generated through word of mouth or organic reach.
How much has TribeBoost raised?
Launched in 2012, TribeBoost has grown to scale solely by bootstrapping. Going forward, Strasser is banking on a transition from SaaS to a content marketing agency model to help get the company back on the path to growth.
TribeBoost’s team of 4 full-time employees is based in Boston, Europe, and the Philippines.