Mention's Story: From Startup Studio to Global Success

Mention, a Paris-based company, is a prime example of how a startup can rapidly gain traction and build a global customer base. The company's journey started within a startup studio called eFounders, where its founders identified a need for real-time web monitoring tools.

• The founders, inspired by the challenges of keeping track of online mentions for their own projects, envisioned a solution that was both affordable and user-friendly.
• Their initial focus was on "prosumers," including individuals, entrepreneurs, freelancers, and micro-organizations. Mention launched a completely free plan to attract early users, taking inspiration from Dropbox's successful referral program.

Early Success and the Shift to B2B

Mention's free plan attracted millions of users, becoming a popular alternative to Google Alerts. While the company experienced remarkable early traction, the majority of its users were not paying customers.

• Realizing the potential of their product for the B2B market, Mention made a critical pivot, targeting companies with 5 to 250 employees. This strategic shift led to a significant increase in revenue and the company's MRR.
• The company grandfathering existing users on their free plans, while introducing new pricing for new customers. The pricing structure included a $30 monthly plan aimed at catering to smaller businesses.

Inbound Marketing as a Growth Engine

Mention's success in attracting new customers can be attributed to their commitment to inbound marketing. Recognizing the limitations of paid advertising for a freemium model, the company focused on creating valuable content.

• Their inbound strategy involved producing high-quality content, promoting it online, and attracting visitors to their website. This approach yielded long-term results, with their best articles continuing to generate traffic even after a year.
• Mention's inbound efforts led to a steady stream of trial signups, exceeding 10,000 per month.

Overcoming Language Barriers

Mention's decision to launch in four languages—English, French, German, and Spanish—aided in building an international customer base. However, it also presented significant challenges.

• The need to translate all content and product materials slowed down the product release velocity.
• The company had to support customers and manage inside sales in four languages.
• Based on their experience, they recommend focusing on a single language for startup growth.

Optimizing Growth Metrics and Tracking Customer Satisfaction

Mention employs a strategic approach to goal setting and metric tracking. They divide the company into five distinct teams: tech, product, marketing, sales, and customer success.

• Each quarter, the company defines "battles," which are essentially KPIs, that align with their overall goals. These battles can range from top-line numbers like signups to MMR growth and churn.
• The company tracks progress on these battles weekly, ensuring team alignment and focus.
• Mention uses Net Promoter Score (NPS) surveys to gauge customer satisfaction and identify areas for improvement. They also leverage NPS surveys to initiate conversations with customers, which has shown a significant impact on conversions.

The Biggest Mistake and Lessons Learned

Mention acknowledges that one of their biggest mistakes was neglecting to prioritize customer retention after acquisition. They initially focused on attracting new customers and neglected to cultivate relationships with existing customers.

• This oversight led to a decline in customer retention, and the company learned a valuable lesson: "A new customer cannot be more important than an existing customer."
• To address this mistake, Mention implemented a dedicated customer success team and improved their customer onboarding process. They also created detailed profiles of each paying customer, providing their team with valuable insights into customer needs and preferences.

Resources for SaaS Growth

Mention's CEO, Matthieu Vaxelaire, recommends focusing on action and hands-on experience as the best way to learn about SaaS. However, he suggests Jason Lemkin's blog and Quora responses as valuable resources for learning about SaaS best practices.

• Lemkin's contributions offer insights into SaaS strategies, growth tactics, and industry trends.
• Mention also highly recommends the Groove blog as a valuable source of information for SaaS companies.