Ways to grow your Monthly Recurring Revenue (MRR)

To grow your MRR, it's best to recall the four ways that MRR changes and focus on developing your pricing model to optimise each category. Here are a few simple ways to improve:

Reduce free plans

Free plans don’t count towards your MRR. Your goal should be to convert as many potential customers to paying subscribers as you possibly can. Whenever possible, use a trial instead. Converting a trial to a paid subscription is usually easier than converting a free plan to a paid one.

Upsell or change your pricing model

If correctly implemented, add-ons and metered billing are effective ways to upsell your existing customers. Building valuable tools in addition to your core product makes it easy to add new plans to an existing subscription. Offering per-seat or per-usage billing means your revenue can grow with your customers.

Reduce involuntary churn

Stripe offers products such as automatic card updates and Smart Retries to reduce the involuntary churn that a normal business might encounter due to expired/lost cards or various network failures. You can also email your customers after a payment failure using our webhooks, or have Stripe do it on your behalf in the Settings Dashboard.