Business update - March '21

Business update - March '21

Flat revenue growth; almost the same MRR as last month

tl;dr

You get out what you put in. Focus on SEO and content marketing is starting to pay results. We got our first few signups via landing pages like Best Slack standup tool & 10 best Icebreakers questions for remote teams

But this is such a long term game that I need to balance it out with short term gains via outbound cold emails and sales.

Customer Stories

1 logo churn
  • CTO at 5 member AI startup --> Moved to Discord from Slack
1 new logo + 1 new revenue expansion
  • CEO at Russian digital agency --> found us via google search keyword
  • 50 member SE Asia startup --> revenue expansion

KPIs

  • MRR --> $826 (+ $34) (all expansion revenue)
  • Active teams --> 38 (+ 3)
  • Active users --> 761 (+135)
  • Free 30 day trial to paid conversion % --> 17.3%
  • Churned paying teams this month --> 1
  • 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)

Biggest wins

Got a good chunk of expansion revenue from a fast growing startup. They are one of the few accounts on per employee pricing. Feels good to grow along with a customer. Value based pricing #ftw

What’s not working well

Really really difficult to find a balance between marketing vs product development.

Plans for next month

The two important goals for April are both carrying over from March, which kinda sucks:

  • Ability to answer questions via web
  • Ability to signup via web

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Business update - March '21

Flat revenue growth; almost the same MRR as last month

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Our first month of gross MRR decrease

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We are ramen profitable now!

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