Postcard Panda March 2017 Income Report

New to this series? Checkout the first report for background info on Postcard Panda.

tl;dr – March 2017 was a great month due to a TV bump, some paid ads, and spring break (probably).

Overall Stats

 February 2017March 2017% Change
Revenue$224.32$442.6797.34%
Total Expenses$183.19$340.6097.32%
Profit$41.13$102.07148.16%

Expenses Breakdown

 February 2017March 2017% Change
Kite.ly$112.00$221.0097.32%
Hosting (Heroku)$24.00$24.000%
Advertising0$10.82N/A
Stripe$40.35$79.6297.32%
S3 + Cloudfront$4.855.166.39%
Refunds$1.990-100.00%

USA App Store Stats

 February 2017March 2017% Change
Guest Orders929222.22%
Logged In Orders10018686.00%
Total Orders10921597.25%
Signups who placed an order544780.00%
Downloads31263748.39%
Reviews110.00%

UK App Store Stats

 February 2017March 2017% Change
Guest Orders20-100.00%
Logged In Orders16500.00%
Total Orders36100.00%
Signups who placed an order00N/A
Downloads110.00%
Reviews00N/A

Retention

Screen Shot 2017-04-01 at 8.07.44 PM

What Went Right

This month marks the one year anniversary since I first started doing these posts, and a pretty lucky one. Compared to the very first post in March 2016 revenue has gone from $185 to $442.67 and profit has gone from $28.86 to $102.07. It’s still not a whole lot, and this month was fairly lucky, but I’ll take it.

On March 7 I had a big spike of 110 downloads, which corresponded to revenue on the day of about $47. One of those users filled out a survey I automatically send to customers and reported that they had seen the app on Shark Tank. Postcard Panda has never been on the show, but an app called Postcard On The Run (now closed) once appeared in 2013, episode 504. Postcard Panda happens to rank first when you search for their app on the store, which gives me a nice boost whenever that episode re runs.

That episode was actually a catalyst for the creation of Postcard Panda. I had been thinking of doing it after traveling South America for two months, but decided to go for it when my Dad saw the episode and told me about the app. I was stunned that a business like that had successfully raised over $750k and received more money from the show. To me, they simply had no “moat” around their business and I had no idea why they needed venture funding to start it. Naturally I decided to build a similar app to prove them silly.

Fast forward to February of 2014 and the very first version of Postcard Panda was released. I spent six weeks living in Tahoe that year, snowboarding for half of the day, contracting for Curious, and working on the app in my spare time. Turns out that with $1000 and 100 hours of engineering time, you’ve got a workable version. They went out of business in October of 2015, and Postcard Panda is still around. I definitely got off to a rough start, but am still slowly moving.

Besides the TV bump, I spent about $10 for FB and Instagram ads, which brought in a total of zero new customers. I also decided to turn on Apple search ads again, which has brought me a cost per install of about 60 cents. That’s teetering on the edge of profitable acquisition, so I’m going to continue them in April. I ran out of promotional credit on March 28, so April will be the true test of whether or not it is a successful acquisition channel for me.

What Went Wrong

Honestly, nothing went wrong this month. I still get frustrated when customers email me for a tracking number (it’s a postcard, with a normal stamp), but in the age of Amazon I should probably go easier on them. I wish there were tracking numbers too, it just isn’t possible.

Next Month’s Goals

Continue with Apple search ad experimentation. Maybe try out that drip email I had considered last month. Hopefully eat some cookies.

Thanks for reading, and check back next month!

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