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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.

Q2 Product Team Objectives
0
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
Progress
000
60
Product Feedback
Description
Progress
000
20
V2 Prototypes
Description
Progress
000
40

User Cohorts

Total Paid User seats: 1,414
CleanShot 2023-05-10 at 14.37.23.png

Product Metrics

Trial Conversion Funnel:
CleanShot 2023-05-09 at 18.14.29.png

This speaks to the phone number aspect of our Trial Adoption Project

CleanShot 2023-05-09 at 18.19.25.png

April was an alarming month due to churn rate. First time since we shift business models that churn was anywhere close to trial conversion rate


CleanShot 2023-05-09 at 18.09.42.png

CleanShot 2023-05-09 at 18.01.52.png

We’ve now gone 2 straight months with negative growth for our Inbox User Cohort

CleanShot 2023-05-10 at 08.39.34.png

we’ve continued to see a shift where more tenants are multi-user tenants. Overall this is good news. the large increase in single-user tenants may be related to spam

CleanShot 2023-05-09 at 18.00.51.png
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