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April 2023 Product Report

Summary

In general the product team is shifting attention to V2. This means we’re slowly turning off our V1 initiatives. As it stands, we have 3 remaining V1 projects → all of which are aimed at improving our New User Activation Rate (NUAR).

Because none of our NUAR focused projects have gone to market, we still haven’t seen any change in our NUAR. We identified at the beginning of the quarter that this metric is the single biggest driver of growth moving forward.

Positives

Big Jump in Broadcast Users → going from 150 last month to over 180 this month.

warning: Could be spam here.

Dead user cohort went from 317 users in March to 270 users in April (23% → 19%)

At Risk MAUs went from 143 users in March to 116 in April (12% → 9%)

Over past 12 months we have a 40% user retention which is very good according to June

The number of created tenants went up by 57% (172 in March → 298 in April)

Negatives

Trial conversion rate dropped to 8%

Only 52 new customers in April compared to 70 in March

First “flat month” of growth from new customer perspective in company history

Churn rate doubled to 8%.

there could be a correlation here with the drop in at-risk MAUs/Dead user Cohort

We’ve seen a significant decrease in Team Inbox users → dropping from 92 in March to 77 in April.

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Q2 Product Team Objectives

Q2 Product Team Objectives

Zapier Adoption

Description

We really want to prioritize zapier adoption this quarter and moving forward. To help drive adoption, we released a new in-app integration page that helps users get started with Zapier

Progress

000

100

Surpass 5% NUAR

Description

Right now our NUAR sits at around ~2.5%. We should be able to move this with the following projects:

Team Page and New User Invite Project (in QA) [ 99% Completed ]

Broadcast Adoption Project (in progress as we speak) [ 80% Completed ]

Progress

000

Product Feedback

Description

In Q2 we want to capture product feedback on core user workflows to iron out what exactly works vs doesn’t work in V1. This enables us to scope V2 Beta to meet our core customers needs.

General Product Survey

Progress

000

V2 Prototypes

Description

In Q2 the product team is shifting focus to V2. Initially this means a hault to V1 Project Scoping.

In regards to V2, we are working on the following

Progress

000

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