--- title: "Visible has never sent a lifecycle email. It's at $10M ARR." description: "Luke Martin-Fuller left almost every lever in the subscription growth playbook untouched — and Visible is now hiring someone to pull them." language: "en" publishedAt: "2026-08-19T13:41:57.614Z" updatedAt: "2026-08-19T13:41:57.614Z" authors: - name: "David Barnard" url: "https://www.revenuecat.com/blog/author/david-barnard" category: "Growth" categoryUrl: "https://www.revenuecat.com/blog/growth" canonical: "https://www.revenuecat.com/blog/growth/luke-martin-fuller-visible-sub-club-podcast-2026" --- # Visible has never sent a lifecycle email. It's at $10M ARR. Luke Martin-Fuller left almost every lever in the subscription growth playbook untouched — and Visible is now hiring someone to pull them. ## Table of contents - [The web quiz is partly there to talk people out of buying](#the-web-quiz-is-partly-there-to-talk-people-out-of-buying) - [Members submit an audition tape, then get paid cash for the ads that ship](#members-submit-an-audition-tape-then-get-paid-cash-for-the-ads-that-ship) - [The band costs $80 because Visible makes nothing on it](#the-band-costs-80-because-visible-makes-nothing-on-it) - [The research papers are the part nobody clones](#the-research-papers-are-the-part-nobody-clones) - [Guest links](#guest-links) Visible started monetizing in October 2023. Once it crossed $1M in subscription ARR, it took exactly two years to reach $10M. That part is a good number. The list of things the company skipped on the way there is the interesting part. "We've never sent a lifecycle email. We haven't done any experimentation on our web funnel," says co-founder Luke Martin-Fuller. "We haven't tested any paywalls. We haven't expanded in our geographies. We've not added AdWords or TikTok or SEO or AEO." [Video](https://www.youtube.com/watch?v=DnzG2OvRflI) One paid channel — Meta, running user-generated creative — carries the entire acquisition motion. Roughly half of new customers still arrive through word of mouth. Visible sells in two markets, the US and the UK. There has been no price testing. The reasoning is sequencing, not contrarianism. "The thinking really was that unless you've got something of value that is going to be retaining people and helping them, then there's no point investing in all of that experimentation," Martin-Fuller says. David Barnard, who has lived with a chronic illness for over 15 years and came to the product as a skeptic, puts the failure mode in blunter terms. "A colleague of mine calls them paywall wrappers. If the product isn't real, you just got 60 pages of onboarding that hype somebody up, they subscribe, and then they get zero value and don't retain." Visible built the free app first and ran it for over a year before charging anyone. It reached roughly 50,000 users on word of mouth alone, with no wearable attached. Every one of those untouched levers is still sitting there, which is a strange position for a $10M business to be in — and an unusually good one for whoever takes the growth role Visible is currently hiring for. ## **The web quiz is partly there to talk people out of buying** All of Visible's traffic lands on a landing page, then into a quiz that went live in October 2023 and hasn't changed since. Martin-Fuller is the first to say it's under-optimized. But it does one job deliberately. "The truth is that our product isn't for everyone," he says. "And it would be inconsistent with what we're trying to do in the world to just make people buy it." The quiz screens for whether pacing — the energy-management strategy the product is built around — is actually the right approach for that person. Some of them get told no. Barnard's argument for why this isn't self-sabotage is the sharpest passage in the episode: customers who pay but never get value leave worse reviews, kill retention, and feed you misleading product signals about what to build next. "Yes, you may be able to juice conversion, but you're going to kill retention." The supporting number: median time from first landing on the site to purchase is 10 days. People go away and research. Some of them, Martin-Fuller notes, now send an agent to do it for them. For a considered purchase, a long deliberation window isn't a leak in the funnel. It's the qualifying mechanism working. ## **Members submit an audition tape, then get paid cash for the ads that ship** Visible runs two creative programs with a team of two people. The first, Creator Collaborative, works with established creators already in the chronic illness space — compensated on reach or impressions depending on their following. The second, Community Voices, recruits from Visible's own customers. A line in the monthly member digest invites people to join a Slack group. They submit an audition tape. From then on they get a creative brief every week and can send in a video. The compensation detail is the one worth stealing. "If we use it, then they'll get paid some money," Martin-Fuller says. "And that's cold, hard cash. That's not credits or a discount on a future purchase." It's a flat fee, identical whether the video becomes the top performer or gets $10 of spend and never runs again. Everything gets tested on small budgets first. Only one or two videos a week ever receive scaled spend. The program also produced a hire. Visible's social media manager, Gemma, first came into contact with the company when they asked her to make a video. She lives with chronic illness herself and was already an influencer in the space. They enjoyed working with her enough to offer her a job. Martin-Fuller thinks they're leaving something on the table by keeping all of it inside paid. The approach he wants to test is letting members post the same videos organically on TikTok, unapproved and unbriefed, on the theory that one in a hundred goes somewhere. ## **The band costs $80 because Visible makes nothing on it** Visible sells a Polar-manufactured armband at roughly $80, bought wholesale, at cost. The subscription is $20 a month, or $14.99 annually. "We don't make any money on the hardware that we sell," Martin-Fuller says. "The way we deliver value is by building an amazing app experience." Barnard's reaction on first seeing the price was suspicion — $80 reads as a cheap knockoff until you learn there's no markup on it at all. Which is a real positioning risk, and Martin-Fuller concedes it's worth revisiting. He lays out three models the team looked at. Charge a lot upfront for the device and keep the recurring fee low — the Oura approach, which works partly because a ring functions as jewelry, and where a premium ceramic variant makes the standard one feel affordable by comparison. Price everything into a single rolling membership and never mention hardware cost, which is Whoop's model, though you're still committing to 12 or 24 months upfront. Or take the third path, closer to what dog-tracker company Tractive does: drop the entry barrier as far as it goes and make the money on the ongoing service. Selling hardware also removed the free trial entirely. You can't give away a physical device, so trial length, trial opt-in placement, and the rest of that playbook are simply unavailable. Visible's substitute is the original free app — still live, genuinely useful, and deliberately barely promoted. One small mention on the website, fed by word of mouth, and it accounts for a large share of acquisition. ## **The research papers are the part nobody clones** From the earliest version of the free app, Visible let users opt in to sharing anonymized data with researchers. Doing it properly meant informed-consent flows, ethics committee sign-off via an academic partner, and pipelines that strip identifying data while preserving what makes it useful. None of that moved a revenue number. What it produced was papers in journals including Nature, on using heart-rate data to predict future symptom events, and work with Mount Sinai and Imperial College London on the interaction between symptoms and the menstrual cycle. For a community that has spent years being disbelieved, and a category crowded with people selling supplements and courses, that record is the trust argument. Visible is careful about what it claims: "It's not a treatment, it's not a cure. It helps you implement a management strategy." It's also the thing a competitor can't reproduce quickly. Asked about clones, Martin-Fuller is relaxed. "Honestly hope they don't try because they won't get that far." In [the full episode](https://www.youtube.com/watch?v=DnzG2OvRflI), Luke and David also get into why Visible chose not to announce its Series A, the natural-language AI feature that early access users rejected outright, and how a startup ended up giving product feedback to a company that has been building heart rate monitors since 1977. ## Guest links - [Luke Martin-Fuller on LinkedIn](https://www.linkedin.com/in/luke-martin-fuller/) - [Visible](https://apps.apple.com/us/app/visible-pacing-for-illness/id1624474919) - [Visible careers](https://makevisible.notion.site/)