The below are all the stats and actual revenue numbers from Buffer for Business. Buffer for Business was soft-launched a few weeks ago and we were lucky about the strong responses so far from users.

As we default to transparency and want to try and help as many people as possible with our own learnings and failings, we thought about making these numbers public too! (Granted, this was a bit scary, but here we go! :)

Summary

Here is a snapshot:

  • Revenue: $12340 was generated from Buffer for Business in September
  • Conversions: 110 new people started paying out of 361 trials being started
  • Growth: MRR(Monthly recurring revenue) for Buffer for Business grew 137%, whilst total revenue grew 23%

Buffer for Business was 7.1% of total revenue in September.

Bonus: there are now 164 paying Business customers compared to 54 in the month before (303% increase!)

Revenue

Recurring Revenue from June & July : $2100
Recurring Revenue from August: $4750
+ 1x Yearly $510

Recurring Revenue from September: $3450
+ 3x Yearly $510 = $1530;
Total recurring revenue September: = $10300
Total revenue September = $12340

 

Conversions

In total, 110 new people started paying with 361 trials started in September

Where did they come from?

  • 85% of people coming from Modal converted (17 out of 20)
  • 63% of people coming from Appheader converted (52 out of 83)
  • 15% of people coming from Pricing page converted (35 out of 234)
  • 8.3% of people coming from Blog converted (2 out of 24)
  • (25% of people coming from Inbound converted (1 out of 4)

 

Card details or not?

  • 65% of people who had their card details already in converted to paying (83 out of 127)
  • 9.3% of people who didn’t have their card details with us converted to paying (26 out of 278)

 

In total:

  • 30% of people who started a trial converted to paying users (109 out of 361)

 

 

Growth

137% increase in MRR compared to August (from $4350 to $10300) (MoM from July to August: 111%)

23% increase in total revenue compared to August (from $10060 to $12340) (MoM from July to August: 479%)

Buffer for Business is 7.1% of total Buffer revenue (up from 6.1% last month)

Total users on Business

September:

Large ($250) x 2
Medium ($100) x 7
Small ($50) x 101

Total new customers in September: 110

 

Total:

Large ($250) x 4
Old low agency ($200) x 2
Medium ($100) x 18
Small ($50) x 140

Total Business customers: 164 (compared to 54 in August, a 303% increase)

(not accounting for churn, unfortunately we’re not quite tracking that right now, will try my best to get onto that!)

 

It’ll be really exciting to see how Buffer for Business will develop in the next few months. If you’re handling social media for your company, I  hope it might be helpful for you too.

Let me know any questions you have on our numbers and I’d love to answer any of them!

Free up your day with our Social Media Tools

Buffer can save you up to an hour a day and grow your traffic too.

Learn More
Written by Leo Widrich

Co-founder and COO at Buffer. I enjoy writing about Buffer’s lessons learnt, social media tips and updates to Buffer. For some more personal posts, check out leostartsup.

  • rayfilwong

    Big Congrats Leo. We use buffer all the time!!

  • rayfilwong

    Congrats!! We use buffer all the time for Professor Savings

    • LeoWid

      very cool, that’s so great to hear Rayfil! :)

  • Look, you guys have this simply nailed perfectly for the way I need to work on this while temporarily distracted by non-social-media professional commitments. Without your integration with Feedly, I’d be completely lost!

    I am always singing your praises… I will try to help you with the conversion rates!

    • p.s. I’m not big enough – yet – to need business account status, but I do know people who are and should be using. I’ll point out the new features to them.

      • LeoWid

        Thanks Bob, really appreciate that! Also, so glad you like the Feedly integration here! :)

    • Oh, and I WOULD pay, say, $19.99 for the ability to have five accounts!

  • Leo, it seems that asking/prompting for CC information is really working. Thoughts?

    • LeoWid

      Great question Allan, that was my intuition at first too. I remember I went to Joel and said “we need to get more credit card details from people, they upgrade more!”, however what caught me again here is the difference between correlation and causation.

      People who already have their card details with us ugprade likely because they know the product well already and found it very useful. So the simple fact that they have the card details in might not be the whole reason, that’s my initial intuition at first here anyways.

      What’d your thinking be?

  • NippleHuggers(R)

    Congratulations Leo!

  • GregAlbritton

    Very cool that you have shared this. Motivating and insightful. Cheers!

  • This is amazing and I enjoy learning about how Buffer for Biz is growing as well and the contribution to your total monthly MRR. Great share as always – and an inspiration for all of us out there!

  • gumaflux

    Great post Leo! Helpful and inspirational to read about your soft launch. Impressive numbers.

  • It’s amazing that you guys kept things transparent up to this level.

    Thanks a lot for the insights – had me rethink on some of my own strategies. For start, everyone should definitely try harder in obtaining prospects’ credit card info :D

  • This is brilliant – thanks guys keep this up, you’re helping little startups like us work things out

  • Bhella Bell

    Is Buffer publicly traded?

Join 13,000+ startup culture thinkers & get our posts in your inbox!