I tried taking a break for full time work to focus on scuba diving. Sprained my ankle, so I have nothing better to do than focus on Kaapi full time :) All focus right now on content marketing and SEO.
1 logo churn
- VP Engineering at self-publishing app --> Our oldest customer! Churning after 13 months. Employees got bored and stopped replying to Kaapi checkins.
- MRR --> $1233 (+ $117)
- Active teams --> 60 (-24) (most trial signups from us being on Slack store going out)
- Active users --> 1708 (-106)
- Free 30 day trial to paid conversion % --> 11.3%
- Annual churn rate --> 24.2%
- NPS --> n/a
- Runway before we need to hit ramen profitability --> all done! We can now pay salaries for one of the founders (other is not full time yet)
What's not working well
Unable to find a good rhythm of execution. Many of our projects are half done.
What went well
- Bunch of small things e.g. customised checkin timings, weekly summary emails
- Went bit aggressive on pricing - trial period decreased to two weeks, and per user pricing to $2 with minium billing at $34
- Launched meeting templates on the marketing side. Need to add this to product as a feature
Plans for August
- Launch "remote meetings" feature along with meeting templates
- Finish the 1 on 1 meeting book
- 4 newsletters + 2 leadership guides
- Think about which other marketplaces we can distribute in - MS Teams, Asana, Github, Airtable etc