SaaS Interviews with CEOs, Startups, Founders
He plans to be #1 Wordpress Membership Plugin by 2017 with Jason Coleman of Paid Memberships Pro
05 Feb 2016
Chapter 1: What is the main topic discussed in this episode?
This is The Top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base. You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have.
Chapter 2: What is Paid Memberships Pro and how does it work?
I'm now at $20,000 per top.
Chapter 3: What is the projected revenue for Paid Memberships Pro in 2016?
Five and six million.
Chapter 4: What challenges does Paid Memberships Pro face with churn rate?
He is hell-bent on global domination. We just broke our 100,000-unit soul mark.
Chapter 5: How many paying customers does Paid Memberships Pro have?
And I'm your host, Nathan Latka. Okay, Top Tribe, this week's winner of the 100 bucks that I give away every Monday is Kim Dust.
Chapter 6: How does Jason Coleman fund his business without paid acquisition?
She's in the entertainment industry and is currently working a full-time day job and doing her side hustle on the side.
Chapter 7: Who are the main competitors of Paid Memberships Pro?
Kim, congrats. For you guys' chance to win $100 every Monday, simply subscribe to the podcast on iTunes now and then text the word NATHAN to 33444 to officially enter. Again, text the word NATHAN to 33444 after you've subscribed. Coming up tomorrow morning, Top Tribe, you're going to hear from Joseph Michael. He made $500,000 teaching Scrivener. Why not just acquire Scrivener?
That's what I asked. Okay, Top Tribe, good morning. You're going to enjoy our guest today. His name is Jason Coleman, and he's the founder and lead developer of Paid Memberships Pro, the membership plugin for WordPress that over 40,000 entrepreneurs and organizations use to get paid. Jason, are you ready to take us to the top? Yes. So you have to tell a story real quick how you got on the show.
Do you remember? I tweeted you asking if I was on your show, would I have to pretend that I don't know what the famous vibe is? I love it. So are you, you're listening to the show? Are you, are you enjoying it? Oh yeah, definitely. I've been listening for the past few weeks and I've, I started chuckling cause like as the episodes go higher and higher, um, I'm just listening to him.
I'm just like, I'm just amazed that people haven't like either done their homework or I know it's crazy. It's crazy. I look, I, there's nothing I enjoy more than getting people on and cutting to the chase and, and jumping in. So let's do that. Pay member paid memberships pro. Tell me, I mean, what is this exactly? Um, Well, it's a membership plugin for WordPress.
So if you have a WordPress site that you want to sell access to content on your site, Paid Memberships Pro will do both the checkout portion of things to collect credit card information and also the locking down of member content. Okay. And how many current paying customers do you guys have? We have somewhere between 3,000 and 5,000 paying members.
All of our software is open source and GPL, so you can get it for free. What does GPL stand for? That's the New Public License. It's a software license that WordPress uses that, to the layperson, just means that you share all your code in an open source way so everyone can work on it collaboratively. Okay. And how do people pay you? What do they pay you on average per month?
So starting in July, we bumped our price. We added like a higher tier price point. July of 2015? Yeah, this past summer. So the PM Pro Plus, which gives you support, access to all of our add-ons, access to our webinars, and it's kind of like the premier plan on the site, is $200 a year. And almost everybody uses that membership level.
We have a $97 level, but I think like our average orders, including renewals that have a discount is like $170. So you said you had between 3000 and 5000 paid folks. And you said on average, they're paying you about 200 bucks per year. So what does that put your annual revenue at about?
Um, I don't know if the math there is correct, but we, if we do about a thousand dollars a day, so next year we're projected for, you know, like 360,000 plus and we're still growing. 2016. Yeah. Okay. Very cool. And how are you, so those are all, I mean, these are great metrics. Um, do you think of yourself, yourself like a SaaS company?
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