How Wrike skyrocketed activation by 50% simply asking questions
Epic Web3 Weekly Newsletter
Hey, growth folks 👋
Each week we send you in-depth insights on product growth and the main highlights from our videos with community experts.
👀 New case study
Wrike is a collaborative work management platform that helps control all the tasks and projects. It consists of the four building blocks that are basic for project collaboration — tasks, folders, projects, and spaces.
UX research showed that for most newcomers, Wrike was more of a challenge than a solution. During onboarding, they could not understand all those elements: spaces, folders, projects, tasks, workflows, views.
Dmitry Orlov, Head of Product Growth at Wrike, shared that to fight this situation, they set up instructional onboarding guides. However, it didn't bring successful results as people tended to skip tooltips. Then the company came up with a longer registration flow, asking users questions like:
— What is your team name?
— What project are you working on?
— What things should be done to complete it?
— How would you group those tasks with folders?
— What view do you prefer: table, list, board, gantt?
The registration flow has been lengthened x2, which could lead to lower conversion rates. But A/B tests results showed the opposite — the activation metric was 50% higher and there weren’t any significant user losses.
🧑💻 Are we there yet? Community insights on achieving product-market fit.
Everyone talks about the importance of product-market fit (PMF). Founders work hard to make it happen, VCs use it to evaluate investments, and PMs work with PMF to measure a product’s success in a market.
However, it’s often hard to know if you’ve already reached product-market fit, so let’s see what the community has to say about it.
1/ Andrew Yeo, Investor at AirTree, explores positive signals and red flags that VCs look for when assessing PMF for B2B SaaS businesses. A high rate of ARR growth, low churn, improving LTV/CAC are the rocket ship indicators.
2/ Aatir Abdul Rauf, Director of Product Marketing at vFairs, believes that it’s hard to ever achieve sufficient PMF as it depends on a company’s goals and definition of success. Instead, he suggests the AARRR framework to see if you’ve hit the right spot.
3/ Pushkar Singh, Partner at Tremis Capital & startup deal advisor, drops the thought that startups achieve PMF when they spend money on reaching out to the right audience. In this post, he shares controversial examples of companies that did and did not manage to do that.
4/ KK Diaz, Founder & CEO at A-Game Business Consulting, even brings certain numbers you need to succeed. According to him, you’ve reached PMF, if you retain >75% of your recurring customers.
That's it for today! Hope you found this dose useful and wouldn’t mind engaging with the post.
Sending growth your way,
The Epic Web3 team