SavvyNomad annual report (2024)

Website visit -> signup: 3.6%

Signup -> subscription: ~11%

total spend: $15,600

signups: ~1,400

CPA (signup): ~11

conversion rate (signup): ~8.23%

total spend: ~$2,000

signups: 562

CPA: ~$3.5

Launching Florida domicile service: In February, we introduced a Florida domicile service, and it turned out to be a fantastic decision. Before this, we only had South Dakota, which didn’t work well for many customers because of its strict rules. Florida fixed those problems, and since the launch, we’ve been able to start helping new customers after three slow months with no sign-ups. This service really opened the door for growth.

Onboarding through calls: At the beginning of the year, we didn’t have any onboarding process at all. To make up for it, we guided every new customer personally through calls. This approach ensured they got the help they needed and allowed us to connect one-on-one. Even though it wasn’t scalable, it worked well until we improved the product and added a proper onboarding system.

Modern UI/UX and dedicated support: Our decision to focus on a modern, easy-to-use design and excellent customer support was a big win. Customers often told us they loved how smooth and tech-savvy our service feels, especially compared to others. This approach made a big difference.

Talking to prospects: Another great move was scheduling calls with potential customers to learn more about their needs. My co-founder, Jameson, has been amazing at this—he’s converted so many of these calls into paying customers. It’s been a simple but super effective way to grow.

Content marketing and organic traffic: I wrote over 100 articles in 2024, and it was a fantastic start for our content strategy. These articles boosted organic traffic and brought in leads while also providing value to our audience. We received a lot of positive feedback from customers and prospects who mentioned they enjoyed reading our content and found it helpful. This feedback reinforced that our focus on quality content was the right move.

Google Ads: Once we had a budget, we started running Google Ads campaigns, which worked well. Ads consistently brought in new customers, and scaling the campaigns has been smooth so far.

U.S. residential address experiment: In September, after a slow two weeks with no new customers, I launched several Google Ads experiments. One of them focused on “U.S. residential addresses,” which turned out to be a major success. It’s now driving a steady stream of new customers to us.

Affiliate partners: This year, we onboarded our first affiliate partners, and they’ve started bringing in customers—about 7 so far. It’s still a small number, but it’s a great start and something to grow.

Customer testimonials: We added a simple prompt in our UI asking customers to leave reviews, and it worked! We collected 26 testimonials, including four video reviews. These testimonials have been amazing for building trust and credibility with new prospects.

Price increase experiment: In November, we decided to increase our prices by 20% and 35%, depending on the plan. This was an initiative from my co-founder, and while I wasn’t very confident at first, I wasn’t against it either. After projecting and calculating the value we create for customers, I realized we could justify a significant price increase. We also started hearing feedback from prospects saying, “You’re so cheap,” and for some, it even seemed suspicious. We planned the price change carefully, expecting fewer customers as a result. Surprisingly, we’ve been receiving the same number of customers after the price increase, making this a huge success.

Nevada domicile service: We aimed to expand our offerings by launching a Nevada domicile service. While we found a potential partner, we couldn’t convert the opportunity or build the necessary infrastructure. It wasn’t a top priority since Florida was performing well, but having another offering remains a goal for the future.

Short-form social media videos: In March, we experimented with short-form videos for social media. It didn’t work out. I’m not an expert in this format, and I quickly learned how important it is to nail the hook in the first few seconds. After a few weeks of low engagement and no clear results, I decided to focus on other activities that were delivering better outcomes for us.

Partnerships: We partnered with CPAs, accounting firms, and complementary software and service providers, hoping to drive mutual growth. While we did some small content collaborations, the process was slow, and we didn’t see meaningful results. Communication lagged, and we received very few customers from these efforts. Even so, I still believe in the potential of partnerships and plan to revisit this strategy in the future.

Referral program: We launched a referral program alongside our review prompt, but it hasn’t worked so far. While we know that customers are recommending us through word of mouth, they don’t seem to be using the referral links. As a result, we don’t have any trackable referred customers yet. This approach needs a few iterations before it becomes effective.

First hire: Our first hiring attempt was a failure. During the hiring process, our job requirements evolved, and the person we hired turned out to lack basic computer skills, which were essential for the role. This was a tough lesson about clearly defining expectations and ensuring the right fit during recruitment. Fortunately, subsequent hires have been much better aligned with our needs.

Mastering finances and cash flow management: One of the biggest challenges for 2025 is stepping up in financial management. Right now, we charge customers on a quarterly and annual basis but account for this revenue monthly, leaving us with only a P&L view in our reporting. Managing cash flow effectively and incorporating a proper balance sheet will be key priorities. We also have idle cash in our bank accounts that isn’t being reinvested or utilized efficiently. My personal goal is to learn and implement better financial management practices, including projections, cash flow operations, and strategic reinvestment.

Scaling content marketing and organic traffic: Our organic traffic has plateaued between 3,500 and 4,000 clicks per month. The current strategy isn’t driving further growth, so we need to adapt. My plan is to explore digital PR strategies, such as publishing industry reports that can attract backlinks and boost our domain authority.

Expanding Google Ads: Google Ads has been a reliable channel for us, and the goal is to scale it further. In addition to expanding current campaigns, I plan to launch new experiments to explore untapped opportunities.

Improving attribution: Our current attribution system for identifying which channels bring in new customers is still lacking. We made progress last month, but it’s far from finished. Without clear attribution data, making better marketing investment decisions is a challenge. Refining this system in 2025 will help us allocate resources more effectively and scale with confidence.

Exploring complementary services: Customers frequently ask for additional solutions, such as tax filing, preparation, and insurance. Offering these services could create new revenue streams, even if they’re primarily one-time transactions. It’s also an opportunity to provide more value and deepen our customer relationships.

Strengthening infrastructure: As our marketing scales, the product and operational infrastructure struggle to keep up. Improving our infrastructure—both in terms of the product and partnerships—will be critical to ensuring we can sustain growth without compromising on quality.

Hiring for support and mail operations: One major challenge is hiring a dedicated person to handle customer support and mail operations. Currently, the founders spend significant time on these tasks, which are relatively straightforward to delegate. By hiring someone to take over these responsibilities, we’ll free up time to focus on strategic priorities, like scaling the business and improving the product.