Cover art for podcast Journey to $100 Million: Entrepreneurship & Digital Marketing

Journey to $100 Million: Entrepreneurship & Digital Marketing

1299 EpisodesProduced by Erik J. Olson & Kevin DaiseyWebsite

Accelerate your entrepreneurial journey by learning from our mistakes instead of making them yourself. Join Erik J. Olson and Kevin Daisey, the founders of Array Digital, through their ups and downs and lessons learned as they grow their digital marketing agency to $100 million in revenue. In each d… read more

4:40

The Significance of Avoiding Losses in Monthly Recurring Revenue

Here at Array Digital, we keep very detailed, meaningful KPIs (key performance indicators). In episode 200 of Journey to $100 Million, Erik explains a specific KPI that he was unhappy with after the second quarter of the 2019 business year.

Starting in the first quarter of 2019, we created a “change in MRR” (monthly recurring revenue) KPI. This KPI measures how much our MRR increased and decreased over the quarter. At the end of quarter one, we ended the quarter at about +$8,000 - which we were thrilled with! During the second quarter, we got a little more sophisticated and split this KPI into two pieces. We created “new MRR” (new work we had gained) and “loss of MRR” (work we lost). What we found was that in the second quarter there was a shocking loss of MRR.

We gained $25k in new MRR, but we lost $21k of MRR in the same quarter. So although we were up $4k, the amount of MRR lost was inexcusable. Every time we lose a client resulting in a loss of MRR, we call a lessons learned meeting and deconstruct what happened in order to avoid that particular mistake from ever happening again.

We never want to lose that amount of revenue ever again. So, for the third quarter of 2019, we set our KPI goal for “loss of MRR” to $10k. Erik is pushing really hard to keep these clients because our sales team is constantly bringing in new work and we want to make sure we are keeping that revenue!

Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.

Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.

Educational emoji reaction

Educational

Interesting emoji reaction

Interesting

Funny emoji reaction

Funny

Agree emoji reaction

Agree

Love emoji reaction

Love

Wow emoji reaction

Wow

Listen to Journey to $100 Million: Entrepreneurship & Digital Marketing

RadioPublic

A free podcast app for iPhone and Android

  • User-created playlists and collections
  • Download episodes while on WiFi to listen without using mobile data
  • Stream podcast episodes without waiting for a download
  • Queue episodes to create a personal continuous playlist
RadioPublic on iOS and Android
Or by RSS
RSS feed
http://cast.rocks/hosting/14992/feeds/1VX8E.xml

Connect with listeners

Podcasters use the RadioPublic listener relationship platform to build lasting connections with fans

Yes, let's begin connecting
Browser window

Find new listeners

  • A dedicated website for your podcast
  • Web embed players designed to convert visitors to listeners in the RadioPublic apps for iPhone and Android
Clicking mouse cursor

Understand your audience

  • Capture listener activity with affinity scores
  • Measure your promotional campaigns and integrate with Google and Facebook analytics
Graph of increasing value

Engage your fanbase

  • Deliver timely Calls To Action, including email acquistion for your mailing list
  • Share exactly the right moment in an episode via text, email, and social media
Icon of cellphone with money

Make money

  • Tip and transfer funds directly to podcastsers
  • Earn money for qualified plays in the RadioPublic apps with Paid Listens