How a Shopify app makes $50K in MRR
Maker of TheBootstrappedWay
Analyzify is a Shopify app that helps merchants have an accurate and reliable data tracking setup using data layers, Google Tag Manager, Google Analytics, and many other tools.
MRR: $50,000 | Business type: SaaS
Growth channels and tactics:
1) Youtube
2) Content Marketing
My insights
Analyzify empowers over 350 Shopify stores and generates $12K+/month only after 7 months since the launch - and with the first version of the app.
You would think optimizing their app on Shopify App Store would be their first growth strategy - but it wasn't. As with any App Store, it has a network effect; the more reviews and app installs you have, the better your rankings. But for a new app, starting and making your app visible is really hard in any App Store.
The Shopify App Store is crazy competitive these days; they rank on the 2nd page, 48th place from 530 apps listed.
They noticed a gap in content for setting up your GA4 (the new Google Analytics release) for eCommerce.
First, they recorded video addressing this topic, and this opiece received 20-30 views and 8 -10 leads per day. And finally, they made the first sale.
After noticing strong demand for such content, they launched a video series: Shopify Google Tag Manager Course, to teach merchants how to set up their GTM accounts.
They recently launched Analyzify Hub, where they share valuable insights, tutorials, and the latest data analytics & marketing-related content for Shopify stores.
They decided to make a freemium version of their product where you can make GA4 work in your store—at no cost. They called it “Analyzify GA4 Wizard”, a simple WordPress form that generates a few lines of code.
Their in-depth guide on integrating GA4 with Shopify is driving more than 50% of the traffic, which is crazy!
Although social media channels are driving less than 10% of the traffic these days, it was their main acquisition channel in the early days. Their first videos were the best way to drive awareness.
My takeaways:
Acquisition - write content (blog posts or videos) around the pain you try to overcome to drive early product awareness. You can also create a smaller (free) version of your product that they can use to experience the value of your main product.
Retention & Engagement - do a lot of 1-to-1 calls at the beginning as the product, most probably, still has technical issues, and you also want to understand your early customers' pain points, challenges, and expectations.
Monetization - the only way they would pay for an app with zero reviews is by having an excellent onboarding experience and making sure they're getting the value you promise as fast as possible.
