tl;dr
Our first month of gross MRR decrease. After 3 months of break, we are starting proactive marketing again.
bonus
I get a lot of questions on - "Why is our ambition so low? Why be happy with only $1000 MRR" and "What's coming next?". So I did a Twitter thread ..
Churn Stories
Got 4 logo churns this month
- CEO at 30+ employees recruitment startup in India --> Stopped seeing good employee engagement after three months. I think employees got bored of the Kaapi nudges
- VP of Engineering at 1100+ employees, US based digital media company in real estate --> Leaving the company
- COO at 120+ employee payment gateway startup for SMBs --> Our earliest customer. After 7 months, employee engagement on Kaapi went down
- CEO at 15+ employees Indian recruitment agency --> Again early customer. Shifting back to office, hence doesn't need Kaapi. But I guess the real reason was that they also saw decreased employee engagement
KPIs
- MRR --> $791 (- $93)
- Active teams --> 35 (+ 5)
- Active users --> 761 (+83)
- Free 30 day trial to paid conversion % --> 17.1%
- Churned paying teams this month --> 4
- 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
New feature that removes 20% of support tickets -- add custom team checkins. Was a long time coming!
What’s not working well
Many teams are showing a pattern of churning out after 5-6 months. Employees get bored of the checkins, and the manager stops seeing any value. Need to figure this out soon!
Plans for next month
- Ability to answer questions via web
- Ability to signup via web
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