How Corrily Improved IFTTT's Revenue by 56%

When an integrations SaaS company wanted to revamp their pricing strategy, they turned to Corrily to launch a sequence of price experiments that led to a 56% improvement in new monthly recurring revenue (MRR).

Actions

Increasing prices for higher-income economies (3.5x in Netherlands, United Kingdom and Canada).
Increasing prices moderately even in lower-income countries. (0.8x in Bangladesh, Sierra Leone and The Philippines)
Adjusting for specific target audiences in a country (Germany for example was kept close to 1x).

Results

56%
improvement in new MRR
-30%
fall in conversion rate

About IFTTT

IFTTT, short for “if this, then that,” is an integrations Saas company with over 25 million users worldwide. Users can easily set up triggers and actions to automate processes.
The business had primarily focused on enterprises and more recently pivoted to the consumer market with a freemium model.
International user base with heavy concentrations in the US (23%), India (8%), and Japan (5%).

Timeline

Integration

May 2021 (3 days)
IFTTT and Corrily entered into agreement. Data access was granted (via a one-click Stripe webhook). It took 3 days to fully integrate Corrily’s API across all pricing pages.

Optimization 1

May - July
Corrily’s API tested different price points for a month before becoming confident enough to propose a set of optimal prices. The optimal prices were compared to baseline prices in an A/B test which showed a 56% improvement in new MRR.

Reporting

May - July
During the engagement Corrily helped IFTTT track key paid user metrics across platforms (desktop, Android and iOS).

Optimization 2

August - Ongoing
After seeing consumer willingness to pay increased prices, IFTTT decided to launch an additional product.

Smooth integration, timely updates, & priority support

Corrily provided white-glove support during integration, working with developers closely over a shared Slack channel. This included code review and integration testing.
During the optimization phase, IFTTT had access to a dashboard to monitor the experiments.
On a regular basis Corrily provided ad-hoc analyses of performance, as well as regular catch-ups and reports.
During the engagement Corrily helped IFTTT track key paid user metrics across platforms, partially replacing the need for services such as Baremetrics or Chartmogul.
Price was always sort of a black box for us at IFTTT. Corrily has changed that by helping us understand our users’ willingness to pay, precisely how much should we charge them and the impact price movement has on our revenue metrics. They have been great business partners for us on this pricing journey!
- Erin Grogan (CFO of IFTTT)

Ready to see your revenue grow with Corrily?

Join other successful companies, such as IFTTT, in finding the optimal prices for your users.