CPV Lab Pro
About the Company
CPV Lab Pro is a performance marketing tracking platform designed to assist marketers in managing multi-channel campaigns by providing a unified view of their advertising efforts. The platform targets affiliate marketers, marketing agencies, e-commerce sites, and small businesses, offering valuable insights into which traffic sources—such as Facebook, TikTok, Instagram, and YouTube—are most profitable. By tracking both organic and paid traffic, CPV Lab Pro enables users to optimize their campaigns for better performance.
The platform has become increasingly important following updates like iOS 14, which have complicated conversion attribution on platforms like Facebook. CPV Lab Pro serves as a third-party marketing tracker, helping businesses maintain accurate attribution and improve the cost-per-acquisition (CPA) for their ads. In recent workshops, companies like Meta have recommended using third-party trackers like CPV Lab Pro for enhanced tracking and attribution.
Since its launch, CPV Lab Pro has grown to over 1,500 users, with nearly 10% month-to-month growth through organic traffic. The company achieved $50,000 in revenue within its first year and continues to expand its user base by offering a robust platform that addresses the needs of its target market.
Idea Behind Company
Julia Draghici joined CPV Lab Pro as a co-founder after the project had already begun. Her husband and his partner initially started CPV Lab as a side project in 2011 to simplify their work in affiliate marketing. Recognizing the need for a tool that could streamline their processes, they developed CPV Lab to consolidate data from various traffic sources into one platform.
The original founders encountered challenges when one partner retired from the project. However, the tool gained stability as CPV Lab Pro, and Julia joined in 2018, shortly after her maternity leave. With a background in computer science, economics, and project management, Julia brought valuable skills to the team, focusing on team management and product growth.
The product was validated as more affiliate marketers began using it, realizing its potential to improve their campaigns through accurate data. The team leveraged affiliate marketing forums and a referral program to build its initial user base, emphasizing the importance of community engagement in their growth strategy.
Creating the Company
The initial version of CPV Lab Pro was basic, with a simple design focused on functionality rather than aesthetics. The co-founder, a skilled developer, aimed to streamline his workflow by replacing cumbersome Excel files with a more efficient tracking tool. The platform was designed to track ads across multiple sources, providing a comprehensive view of campaign performance in one place.
As more users adopted the tool, CPV Lab Pro evolved with added features, including advanced statistics, reports, optimizations, API integrations, and notifications. User feedback played a crucial role in shaping the product's development, leading to improvements in user interface and experience.
The company's growth was bootstrapped, with the founders reinvesting earnings into product development and marketing. Julia emphasizes the importance of listening to customers and being ready to pivot when necessary, ensuring the product meets the needs of its target audience. The founders' commitment to creating a tool that genuinely helps marketers has been central to CPV Lab Pro's success.
Launching the Business
Julia joined CPV Lab Pro after the MVP launch, focusing on full-time product development and customer engagement. The initial launch faced communication challenges, including unclear messaging about management changes and a fee for updates, which in hindsight could have been handled differently. Despite these setbacks, the team learned valuable lessons that helped them refine their approach.
The company was bootstrapped, with the founders taking a hands-on approach to all aspects of the business. They created a website using a free theme and designed a logo themselves, relying on their skills and resources to build the brand. Working from home, they balanced family life with business development, embracing the challenges of entrepreneurship.
Networking became a key component of their growth strategy. In 2022, the company participated in an accelerator program, gaining insights into the startup ecosystem and the potential for external investment. Through networking, they connected with a valuable advisor who has contributed to their strategic development. Julia highlights the importance of stepping out of one's comfort zone to build connections and learn from others.
Earnings
CPV Lab Pro's current platform is stable, with a monthly recurring revenue (MRR) of $7.5K. Despite not reaching their target revenue last year due to global challenges, the company continues to grow without external marketing investments. The launch of CPV One, a cloud version of their marketing tracker, has positioned them as the only affiliate marketing tracker offering both self-hosted and cloud-hosted versions with unlimited events tracked.
The company has expanded its team to six members, focusing on meeting customer demands and enhancing marketing efforts. They aim to secure investment in 2023 to accelerate development and expand their marketing reach. CPV Lab Pro's goal is to become the leading tool for affiliate marketing performance optimization in the US.
Julia emphasizes the importance of understanding every aspect of the business, learning from mistakes, and prioritizing customer needs. The bootstrapped approach has taught them to manage finances carefully, maximizing resources to achieve growth. Looking ahead, they plan to continue building strategic partnerships and enhancing their product to serve their growing user base.
