I want to share an interesting story about two underdog companies that took on the big players in the email marketing world.
I've been following this saga closely and have learned some valuable lessons along the way.
I've been following this saga closely and have learned some valuable lessons along the way.
So, we all know Mailchimp, right?
They've been the top dog in email marketing for a long time. But then, something interesting happened. A guy named Nathan Barry came along with his company, ConvertKit. Now, Nathan didn't try to be all things to all people.
He realized that content creators like me needed a tool designed just for us. Guess what? It worked like a charm, and ConvertKit pulled in an impressive $43 million in annual recurring revenue!
They've been the top dog in email marketing for a long time. But then, something interesting happened. A guy named Nathan Barry came along with his company, ConvertKit. Now, Nathan didn't try to be all things to all people.
He realized that content creators like me needed a tool designed just for us. Guess what? It worked like a charm, and ConvertKit pulled in an impressive $43 million in annual recurring revenue!
But the story doesn't end there. Another player, BeeHiiv come in. BeeHiiv's leader, Tyler, and his team decided to focus on newsletters – another area where the big companies weren't quite cutting it.
They zeroed in on this specific niche and carved out a solid $12+ million in annual recurring revenue.
They zeroed in on this specific niche and carved out a solid $12+ million in annual recurring revenue.
What did I learn from all this?
Well, for one thing, being a specialist can really pay off. By targeting a specific audience or need, ConvertKit and BeeHiiv managed to stand out and make a name for themselves in an industry dominated by a giant.
It's also essential to keep an eye on your competitors and learn from their successes. BeeHiiv saw what ConvertKit was doing and found another opportunity to make a splash in email marketing.
The Internet works better with the long tail because, in theory, there is limitless shelf space. So, as much as your product is relevant to your customers, you’ll get better retention.
So there you have it – a fascinating tale of two small companies that dared to take on the big guys and won.
I hope their stories inspire you as much as they've inspired me!
— Emre
I hope their stories inspire you as much as they've inspired me!
— Emre