Blog

2021 Year in review

Team Morningscore salutes you
Karsten madsen - CEO of Morningscore
Karsten Madsen
Co-founder & CEO @ Morningscore.io

This is the post where I look back at 2021 for our software startup Morningscore.

The 2021 goal was to triple the revenue of 2020. We were supposed to scale a smooth machine. The idea was to do that through more direct sales and cold calling. And then reach the promised land of “cash flow positive” which means we would make more money than we spend and therefore no longer need investments.

This is not what actually happened.

Journey highlights

2021 was a big learning year for, I believe, all of the crew. It was a U year. Let me explain. We went into the year with a lot of confidence and assumptions that got smashed around spring. It was quite painful at times. Our new direct sales efforts proved to be a wrong strategy, at least at this time. And version 3 got delayed more than 6 months! The U shape represents our roller coaster ride. The U shape goes down but then goes up again. This happened to us. All the pain led to action and a way deeper understanding of where to take this business. Since June we learned so many things that finally just made everything click. We released version 3 with a huge bang. Read about the version 3 launch here. The excitement was real. We found the perfect model for sales and marketing. and I could go on and on.

The whole team is so pumped on energy to take on 2022 because we deeply believe that we have it in us to take this company so much further now. Epic plans! 👩‍🚀

This also means we no longer are aiming for cash flow positive. We are instead aiming for the even more promised land of hyper growth 🚀

What we achieved in 2021

  • Morningscore went from version 2.9 to version 3.0. Yes, just 1 release. But it was huuuge.
  • We almost doubled our customer base from roughly 400 to 700 monthly paying customers.
  • Subscription revenue roughly increased 220%

In the next chapters, I will dive into these results and tell you what happened in more detail.

The Product in 2021

From October 2020 to October 2021 we worked on version 3. This video (which doesn’t show the product lol) is our proud launch event:

Since v3 was such a big change in our code we had to migrate customers from v2. The remaining part of 2021 was dedicated to that and polishing the v3 rocket.

Polish continues in Q1 2022 with the relase of v3.1. But then after that we are back to releasing a lot of new cool things again. And with 2-3 months interval. So excited about releasing new features quick again 📦️

2021 Financials (money talk)

Below are the key metrics of our results in 2021 compared to 2020 and 2019

METRIC 2021 2020 2019
Revenue $0.53 million $0.24 million $0.10 million
Expenses $1.14 million $0.55 million $0.30 million
Employees** 13 8,5 5
MRR $45.000 $23.000 $10.000
CAC* $700 $500 $400
LTV $2000 $1500 $1300
Customers 709 421 212

*In 2020 and 2019 the CAC was not measured properly. Estimations have been given. **Measured in full-time employees.

Looking ahead

Here is a super short overview of our 2022 goals.

Product milestones are shown on a timeline in our roadmap.

And these are the business goals:

  • Go from a revenue of $0.5 million in 2021 to $1.1 million in 2022
  • Go from roughly 700 customers to 1500 customers
  • Go from Morningscore version 3.0 to version 3.4
  • But as always the most important goal is: Be an awesome team and enjoy this wild ride 👽️

P.S. 🌳

We dream of a world where doing good equals healthy business.

That is our company vision. But talk is cheap. Action counts.

Last year I said we would plant 1 tree per month per customer as of January 2021.

Now we have planted a total of 4753 trees in 2021. And of course we continue in 2022.

Can we reach a total of 20.000 trees? Game on 😎

Follow us on LinkedIn to get in on the action 👩‍🚀

Let's hear it from the customers

What the users say about us

We like to keep things simple, and so do our customers. Here's what the users have to say about Morningscore.

5 out of 5 stars

“Morningscore gives me that vital view of our rankings on search engines, and I can see up-to-date information on how we're performing against our competitors and whether we're gaining or losing traction. I also find the tool very easy to use. It just works.”

patrick qureshi salary.dk
Patrick Qureshi
CMO, Salary.dk
5 out of 5 stars

“The tool is very affordable, but at the same time it's both complete and easy to use. My favorite part is that it's actually more than just a tool - it's rather a comprehensive, complete suite.”

carlos tiscar
Carlos Tiscar
Co-founder, EC Shops
5 out of 5 stars

“A truly usable and effective SEO tool without many disruptive elements. This means that I can actually use the tool for something specific that gives our business value.”

heidi kirstein seo tool review
Heidi Kerstein
Marketing coordinator, Fitness Engros A/S
5 out of 5 stars

“I’ve used Morningscore since the beginning of my company. I tried many tools, but my heart fell for Morningscore because it’s so easy to use - and because I work with many small businesses who MUST have the tool for me to help them.”

christina lund schmeltz
Christina Schmeltz
Owner, LS Marketing
5 out of 5 stars

“I use Morningscore because SEO is not my specialty, and I don’t want to spend time on it. I have an internal team who takes care of SEO, but I need to know the outcome of their work. With this tool, I can log in and see our performance from day to day.”

esben oesterby
Esben Østerby
Founder, Iværksætterhistorier
5 out of 5 stars

“I was looking for a tool to help my customers see exactly what we’re working on and what value it gives them. I’ve found that with Morningscore. I recommend the platform to anyone who needs to manage and improve their SEO.”

Trolle Hansen trolle reklame
Trolle Hansen
Owner, Trolle Reklame
5 out of 5 stars

“If you are looking for a solid SEO tool with an awesome founder and an amazing support team, then look no further. Morningscore is definitely one of the best tools that I have on my arsenal.”

vinson lozano
Vinson Lozano
Agency owner, Konker Digital
5 out of 5 stars

“Morningscore is the easiest SEO tool I've ever seen and used – and I've tested so many of them. The charts and data may be comparable to those of competitors, but the fun part comes in when you make use of the many ways to play 'catch me if you can' with a competitor.”

rasmus schuebel kreativling morningscore review
Rasmus Schübel
Owner & Founder, kreativling