On the podcast we talk with Eric about the largest consumer marketplace that’s ever existed, the growing exit opportunities for Consumer Subscription Software businesses, and why the CSS industry may be relatively recession-proof.Top Takeaways👀 Simply occupying eyeballs isn’t the game plan anymore💰The CSS space could be recession-proof👴 The data and tooling landscape has matured, making it easier to build and grow subscription businessesAbout Eric Crowley👔 Partner at GP Bullhound, a global technology investment and advisory firm for entrepreneurs and founders👨‍💻 Coming from an executive software startup background, Eric primarily focuses on M&A, capital raises, and advisory transactions at the firm💡  “If the entire focus of your team is adding value and not just making sure information flows from stack one to stack two, you're going to build a better business, because you're out there listening to your customer [and] watching them use your service”👋  LinkedIn and TwitterLinks & Resources‣ Check out the Consumer Subscription Software (CSS) 2022 report‣ GP BullhoundFollow us on Twitter‣ David Barnard‣ Jacob Eiting‣ RevenueCat‣ Sub ClubEpisode Highlights[1:58] Mind-blowing CSS report insights: Apps are instantly downloadable and purchases are immediate for 5 billion people around the world.[5:10] What the internet was meant to be: Apple is the new cross-border cash clearing house, and apps are leveraging some of the most advanced technology we have today.[7:39] The end of apps?: There’s a reason to be bullish on the subscription business model. David explains why.[10:52] Record-breaking non-game app revenue: For the first time in 2022, people are spending more on apps other than gaming.[13:27] Having fun with luxury goods: With a downturn on the horizon, will in-app purchases take a hit? Why spend money on Candy Crush when you can still have fun for free? GP Bullhound sees CSS businesses as “enhancements at an affordable price.”[20:09] Where’s the value?: During a recession, the bar for added value increases. Where does that leave subscription services? If it makes you better at your job (like Grammarly does for Eric), it’s a winner.[21:40] On bankers hating averages: Eric talks overvaluations, undervaluations, and the sturdy infrastructure of the industry. (Hint: DuoLingo, Dropbox, and Bumble will be here in five years.)[28:22] Cashing in on subscriptions: The cash efficiency of the consumer subscription model is finally beginning to show. Eric highlights that CSS entrepreneurs are gold miners, with plenty of companies selling them shovels and pickaxes.[35:13] Exit stage right: From PE firms to small investors, opportunities to exit apps are many. Eric explains what that looks like for brands, consumers, and founders.[40:38] Philosophy of selling: Eric sets out the thought process founders go through and the questions they should answer before moving ahead with a sale.

On the podcast we talk with Andrew about the journey to cash flow positive for Elevate Labs, the importance of creative, and why spending less money can sometimes be the key to figuring out paid user acquisition.Top Takeaways📈 The journey to cash flow positive is a long one, demanding tough decisions along the way💵 Spending less money can sometimes be the key to figuring out paid user acquisition🎨 Control and collaboration are key elements of a creative cultureAbout Andrew Maguire⚙️ Chief Operating Officer at Elevate Labs and Managing Partner at Volo Ventures💪 Andrew saw Elevate move from rolling back on ad spend in order to survive, to becoming cash flow positive with record growth in 2022.💡 “How do you have values that are not just the poster on the wall that no one cares about, but are actually lived in the organization?”👋  LinkedIn and TwitterLinks & Resources‣ Join the Elevate Labs team‣ Connect with Andrew on Linkedin‣ Follow Andrew on Twitter‣ Volo Ventures ‣ Elevate App ‣ Balance App Follow us on Twitter‣ David Barnard‣ Jacob Eiting‣ RevenueCat‣ Sub ClubEpisode Highlights[1:46] Inspirational investment: Making waves at Elevate, Volo Ventures invested in RevenueCat based on Jacob’s juice for building a big company and solving real problems.[6:48] Early elevation: The duality of Volo Ventures and Elevate gives Andrew insight to create great apps while investing at the same time.[10:25] Living organizational values: An ongoing commitment to incorporate company mission into every aspect of work — from hiring to recognition and performance — is what makes a company really stand out.[13:25] Pay to play: You need to spend money to make money. Jacob and Andrew discuss getting a handle on LTV, plowing money into advertising, the subscription model, and trials.[19:20] The slow degradation of ATT: It’s not an overnight thing, but Elevate still took a hammering.[21:26] Circling the wagons: Andrew talks about the experiments they ran, what worked, and what failed, including pulling back ad spend.[24:32] The importance of creative and the power of ads: Everyone taking responsibility for the quality of the product builds a culture of creativity with ideas coming from all angles.[33:22] Blending acquisition costs: When you’re building a second app, you can leverage the customers you already have for the old one to build an even better product. And sometimes free giveaways can scale ad spend in asymmetric ways.[40:25] Becoming a “real business”: Hitting cash flow positive feels really good. Andrew found that focusing on being lean and scrappy allowed them to scale the business without having to raise more capital.[46:13] The Volo connection: Andrew, David, and Jacob discuss what’s happening at Volo Ventures.

On the podcast we talk with Adam about when and why to use an MMP, which subscription events to track in your analytics, and why A/B testing doesn’t always work the way you think it works.Top Takeaways📏 Understand what your users are doing to help define — and then achieve — your goal📈 Spreadsheets are a great start, but growing sophistication requires something more long-term🔧 Turning events into actions is difficult but necessaryAbout Adam Landis👨‍💻 Founder and CEO at AdLibertas💪 Adam has helped hundreds of apps — including Crossy Road, Temple Run and Audio Mac — influence user behavior through data collection and analysis.💡 “How do you make sense of all this data that's coming out of the app? How do you understand what users are doing? What is the impact? And then what is the outcome of the changes you make?”👋 LinkedIn | AdLibertasLinks & Resources‣ Learn more about AdLibertas‣ Read AdLibertas updates from Adam‣ Follow AdLibertas on LinkedinFollow us on Twitter‣ David Barnard‣ Jacob Eiting‣ RevenueCat‣ Sub ClubEpisode Highlights[1:44] The OG of apps: At the genesis of the App Store, Google and Apple fought over ads — and that’s when Adam got started. AdLibertas was born just a few years later out of the need to understand the data coming from users.[6:34] The progression of data sophistication: Brand new app developers are hungry for thousands of data points. But are those really necessary at the beginning? Adam dives into startups getting to 1.0, understanding product market fit and balancing product versus infrastructure.[9:39] View from the data stack: Adam talks about minimum viability and the importance of understanding what your users are doing before anything else.[15:27] Every app is unique, but data speaks uniformly: How do you do deep, complex analysis early? Adam offers a smart strategy on what metrics apps should track to garner the most valuable insights.[24:16] Blending freemium and subscription is an art: Getting sophisticated and buying users means understanding their long-term value and the real sources of ROI.[25:57] The essential MMP stack: Adam and David discuss the when, what and how of MMPs.[31:56] SKANing: It’s the mess that no one wants to talk about. But don’t worry: It’s okay not to understand because no one knows what’s going on.[34:36] All praise to A/B testing: When it comes to A/B tests, losing can be better than winning. Adam explains that the proper way to test is to set the boundary before the test and not look at the data during testing.[40:05] CRM campaigning: Adam and David talk about getting the most out of CRMs in terms of retention and re-engagement.[47:13] In with the old, in with the new: Do you focus more on product or marketing? It depends on how big you are.

On the podcast we talk with Emmanuel about the magic of affiliate marketing, how to best use Stripe payments, and why you should probably build a web app before you build a native one.Top Takeaways✉️ Don’t skip user registration — and do it early in onboarding💰 The road to subscription revenue isn’t a straight one📈 The little things add up over timeAbout Emmanuel Crouvisier👨‍💻 Founder at CardPointers, an app that makes it easy to optimize credit card rewards and has saved users over $200M.💪 Emmanuel used affiliate marketing and a revenue share model to increase user retention, simultaneously rewarding loyalty and content creator talent.💡 “Keep your costs really low. […] The companies that have been in this space before never last more than two years because they need a team of [up to] 30 people to run everything. Whereas [with CardPointers], it's just me, and my costs are literally hundreds of dollars per month — so it makes it easy for me to make a good business out of it.”👋  Twitter | LinkedInLinks & Resources‣ CardPointers on the App Store‣ CardPointers on Twitter‣ Special Offer for Sub Club listenersFollow us on Twitter‣ David Barnard‣ Jacob Eiting‣ RevenueCat‣ Sub ClubEpisode Highlights[1:42] Building inspiration: Emmanuel discusses what inspired him to found CardPointers, getting turned on to the world of credit card rewards and realizing just how much revenue subscription apps can bring.[7:21] Exhausting side hustle: Early on, CardPointers was an evenings and weekends-based project, applying smart strategies combined with persistent tinkering.[11:15] Decisions, decisions: Emmanuel explains the decision he made in the early building phase, as well as his lucky break with Apple iOS 13 and watchOS 6.[17:30] Same system, same project: Emmanuel discusses the benefits of a backwards compatible API with proper user accounts created from the get-go, reducing sign-up friction.[19:47] The affiliate backdoor: On launch, he didn’t have any partnership links set up and he wasn’t getting anywhere by going through official channels. He got better results by reaching out to people through LinkedIn. [23:26] $1,000 a month sounds cool: Though he was making progress with affiliate revenue, it’s not all easy and there are a lot of rules around compliance. This made a subscription model more attractive, and led Emmanuel to devise the pro tier for paying users.[27:22] Understanding employers: It can be nerve-wracking to quit your day job. Emmanuel talks about how he managed the transition. He lucked out because his employer was supportive, too.[31:52] Blow-up business: Emmanuel talks about how his current roadmap really shifted the trajectory of the business, including imminent plans in the pipeline.[35:23] Big-time consumer: Studying up before — and during — the startup phase is crucial for unlocking your app’s real potential. Emmanuel learned (and continues to learn) from an array of sources including webinars and Twitter communities.[42:40] Influencing the market: So many apps need to find the kind of product-channel fit CardPointers has in terms of influencer and affiliate marketing. Emmanuel explains how it took off as a channel that worked for him.

On the podcast I talk with Darrell about going from zero to an 8-figure ARR in just 18 months, building a product improvement loop combining user research and A/B testing, and why expecting failure is one of the keys to success.Top Takeaways📈 Going from 0 to an 8-figure ARR in 18 months is doable🙈 Sharing and selling data isn’t necessary to build and scale subscription apps🎰 Structuring product development as a “bet” liberates you from needing to be rightAbout Darrell Stone👨‍💻 Head of Product & Design at Citizen, the number one public safety app in the U.S.💪 Darrell defined and scaled Citizen's consumer subscription product with a dual focus on acquisition and retentive, life-saving features.💡 “Product [development] in consumer tech is very much a team sport. You have to approach it through the mindset that you're building a team that's going to win a thing.”👋  LinkedIn and TwitterLinks & Resources‣ Citizen App‣ Citizen’s Career Page Follow us on Twitter‣ David Barnard‣ Jacob Eiting‣ RevenueCat‣ Sub ClubEpisode Highlights[2:03] Leaving Uber to scale a startup: Darrell discusses the reasons why he left Uber to start a subscription app.[5:20] Making the world a safer place: Citizen is a “moderated safety app.” It has more than 100 people actively listening to police scanners to enable provide real-time information about what is happening in communities.[10:57] Charging for a public safety app: Darrell discusses the tension between monetization and Citizen’s mission of keeping people safe. He outlines the difference between the freemium and paid products.[19:15] Citizen on the world stage: Darrell talks about taking Citizen global and how the company “a safety marketplace” to the world.[22:20] World pricing: Darrell offers potential strategies for global cost and price differences.[24:52] Understanding users: Darrell gives insight into how user research shapes A/B testing, product development and the improvement loop.[30:05] Antifragile product development: One of Darrell’s go-to recommendation for people in product is Annie Duke’s interview on The Knowledge Project. Bumps are inevitable during the product development process — it’s how you manage it that matters.[33:14] Lessons learned for top unlocks: Darrell discusses tips for being more right than wrong to unlock a real value-add, and how this took the company from zero to eight figures in ARR.[37:45] Buy versus build: David and Darrell talk about how bringing on third party tooling can help achieve long-term company goals.[41:45] Aligning the team to the bigger vision: Darrell explains how clear goals, rapid feedback loops and celebrating incremental progress help keep teams motivated through the whole process.

On the podcast we talk with Phil about the thesis behind Tinder’s monetization strategy, the importance of product differentiation, and why some companies shouldn’t use subscriptions.Our guest today is Phil Schwarz, Partner at Corazon Capital, a leading Chicago-based venture fund investing in early stage tech companies. Prior to joining Corazon, Phil served as the Chief Marketing Officer at Tinder during the rollout of subscriptions. He was also previously Head of Growth Initiatives at Match Group.In this episode, you’ll learn:3 key innovations that propelled Tinder’s growthTips for optimizing your paywall strategyHow Tinder transitioned to a subscription-based modelLinks & ResourcesCorazon’s websiteFollow Corazon on TwitterCorazon’s LinkedIn pageContact CorazonPhil’s LinksPhil’s LinkedIn pageFollow us on Twitter:David BarnardJacob EitingRevenueCatSub Club

On the podcast we talk with Gessica about how to think about brand marketing for apps, finding product/channel/messaging fit, and why you shouldn’t even refer to Bill Gates in an ad campaign.Our guest today is Gessica Bicego, Chief Marketing Officer at Paired, the #1 app for couples. Prior to joining Paired, Gessica spent 6 years leading performance marketing and growth at Blinkist.In this episode, you’ll learn:How to build a moat around your brandPaired’s growth stack & favorite data collection toolsTips for allocating ad spending & measuring advertising campaignsWhy Bill Gates sent Gessica a cease and desist letterLinks & ResourcesAlbertTaboolaRuntasticFivetranAmplitudeRevenueCatSnowflakeLookerPhiture’s Mobile Growth Nightmares podcastSub Club Podcast episode 39: 8 Principles for Sustainable Growth — Sean Ellis & Ethan Garr, Breakout GrowthGessica’s LinksGet PairedCurrent job openings at PairedFollow Paired on InstagramFollow Gessica on TwitterGessica is on InstagramGessica’s LinkedIn pageFollow us on Twitter:David BarnardJacob EitingRevenueCatSub Club

On the podcast we talk with Giancarlo about soft vs. hard paywalls, how to think about product experiments, and why removing friction from onboarding didn’t actually help.Our guest today is Giancarlo Musetti, Growth Product Manager at Ad Hoc Labs. Ad Hoc Labs makes several apps including Firewall and Dialed, but is most well known for Burner, an app that allows you to create multiple phone numbers to protect your privacy and better manage communication.In this episode, you’ll learn:How to make a smooth transition to a subscription-based modelTips for optimizing your paywallHow to boost your app’s growth and user baseGiancarlo’s three-step process for testing new strategies and featuresGiancarlo’s LinksAd Hoc Labs’ websiteBurner appFirewall appDialed appAd Hoc Labs’ hiring pageGiancarlo’s LinkedIn pageFollow us on Twitter:David BarnardJacob EitingRevenueCatSub Club

On the podcast we talk with Darrell and Jake about optimizing your app’s paywall, how to increase revenue by giving users a better experience, tips for pricing your app, and how to reduce subscriber churn.We’re with Darrell Stone and Jake Mor in front of a live audience at the App Promotion Summit in New York City. The App Promotion Summit is America’s leading app marketing conference. Darrell is the Head of Product & Design at Citizen, the number one public safety app in the U.S. Jake is the Founder & CEO of Superwall, the best way to build in test paywalls without having to update your app.In this episode, you’ll learn:Where to put your app’s paywallWhich features should you paywall?When to paywall all of your app’s featuresA clever way to win back users who cancel their subscriptionLinks & ResourcesRevenueCatPrevious webinar with Jake on YouTubeJake Mor’s LinksFollow Jake on TwitterSuperwall’s websiteFollow Superwall on TwitterDarrell Stone’s LinksFollow Darrell on TwitterCitizen’s websiteFollow Citizen on TwitterFollow us on Twitter:David BarnardJacob EitingRevenueCatSub Club

On the podcast we talk with Mark and Jeff about community led growth, how they improved trial starts by 25%, and why running ads for a blog post might actually perform better than sending people directly to the App Store.Mark is an RRCA Certified Distance Running Coach and created None to Run as a blog and personal outlet to stay in touch with his passion for exercise science and healthy living. Jeff has been developing iOS apps since 2009 and teamed up with Mark to build an app as the None to Run community started to take off and requests for an app could no longer be ignored.In this episode, you’ll learn:How to build momentum for your appDon’t launch your app until you’ve done thisTips for growing your audienceHow None to Run reached an 80% conversion rateLinks & ResourcesMighty NetworksSub Club podcast episode 35: From Indie Side Project to $1M in ARR — Curtis Herbert, SlopesAriel from AppfiguresLisa JhungJeff & Mark’s LinksNone to Run’s websiteFollow None to Run on TwitterGet the None to Run appJoin None to Run’s communityCheck out Jeff's fitness app, IntervalsFollow Jeff on TwitterFollow Mark on TwitterContact MarkFollow us on Twitter:David BarnardJacob EitingRevenueCatSub Club