On the B2B SaaS Podcast, the host (Upendra Varma) interviews the world’s best B2B SaaS founders, asking them everything about their businesses.
In this episode, Mikael Dia, Founder and CEO of Funnelytics, shares insights into the journey and growth of Funnelytics, a marketing analytics platform. Mikael discusses how Funnelytics helps businesses visualize customer journeys and overlay data to optimize conversions and identify bottlenecks.
Product Overview:
Funnelytics is a marketing analytics platform that allows businesses to visualize customer journeys on a digital whiteboard. It helps users see conversion rates, identify bottlenecks, and understand the flow through various touchpoints. The platform integrates with tools like HubSpot and uses a tracking script on websites to collect and visualize data.
Customers:
- Thousands of customers across various industries, including agencies, e-learning, SaaS, and e-commerce sectors.
- Revenue Distribution**:** Approximately 30% from agencies, 30% from midsize in-house teams, and 30% from mapping-only users.
- Customer Acquisition**:** Acquires approximately 50 new customers per week. Around 200 new free trials per week.
Top of Funnel Channels:
- Initially relied on paid advertising to promote the free mapping tool.
- Currently, most traffic is organic, driven by word-of-mouth and users sharing their experiences.
- Self-attribution from customers points to sources like YouTube, Instagram influencers, and LinkedIn.
Conversion Strategy:
- Uses a product-led approach with a free mapping tool and a free trial model.
- Focus on optimizing the onboarding experience for new users.
- Employs an SDR process to identify high-value leads from free trials and schedules kickoff calls to demonstrate the platform and assess fit for higher-level plans.
0 to 1 Journey (Initial Days):
Mikeal built the first version of Funalytics for his own agency needs. To gain early users, he:
- Launched a free mapping tool and built a community on Facebook.
- Offered a lifetime deal for early access to the analytics feature, generating over $200,000 in 48 hours and closing seven figures in non-recurring revenue in the first 12 months.
Company Funding & Team:
- Funding**:** Raised $3 million in VC funding, primarily used to rebuild the platform for scalability.
- Initial Development Cost**:** Built with a small team of developers, funded by lifetime deal revenue and early income.
- Team Structure**:** Initially had three full-time engineers and one part-time engineer.
Vision:
Funalytics aims to become the command center for digital marketing teams globally, providing a universal language through its visual canvas and data integration. The company is focused on sustainable, profitable growth and is considering raising a Series A round to further scale its operations.
Conclusion:
Mikhail’s journey with Funalytics highlights the importance of adaptability, leveraging user feedback, and maintaining a clear vision for growth. The episode provides valuable insights into building and scaling a successful SaaS product in the competitive marketing analytics space.
