pivoting in a lean startup - a case study by editme
DESCRIPTION
In 2010, EditMe has gone from a wiki platform, to website CMS for online communities, to internal collaboration software. Matthew Mamet and Matt Wiseley will talk about how EditMe interviewed key customers, did homepage A/B tests, and how we've built our internal KPI dashboard to provide metrics to inform our decisions - all while continuing to acquire and support a thriving customer base of over 650 paying customers We don't have all the answers on what makes a successful pivot, but we're willing to share what we've learned about how we setup our analytics, test our hypothesis, and how we learned to be efficient with our time.TRANSCRIPT
Pivoting in a Lean Startup
June 24, 2010
What is EditMe? In 2003, a side project started by Matt Wiseley while working at Embarc, a
interactive agency.
The web site solution for wiki’s, blogs, content, and collaboration sites
What is EditMe? In 2005 . . . .
The first WYSIWYG Wiki Platform
PC Magazine Editor’s Choice
A MicroISV, Matt quits his day job and moves to EditMe fulltime
EditMe is a new service that empowers non-technical users to quickly and easily build and host irresistibly editable web sites.
Gartner Hype Cycle - 2006
Better add more, better FEATURES! Skins
Style Editors
Modules
Development Platform
APIs
Calendars
To-Do lists
Widgets
Site Export
RSS feeds
Delicious Integration
Image Gallery
Full text attachment search
Form Builders
What is EditMe? 2009
Gartner Hype Cycle 2009
Problem EditMe is too many things, to too many people
How to attract more of the people like our existing customers, who love us? Focus on fewer, simpler features
Which features? Which users? Which results?
Who are current Customers?
Who are current Customers?
Who knows what these people want? The Micropreneur Academy
Authors of “E-Myth”
Small Business Owners themselves (via BNI)
Business Process Consultants that we harassed via Twitter
First Pivot
Our Results Looks great! What do you guys do?
We didn’t pivot hard enough
A/B Tests
New Problem Hey, this thing isn’t as easy/collaborative/awesome/etc as I thought!
How should EditMe help our customers use this product to be successful?
We didn’t know
We only understand AA and the 3rd R
Personalized Account Review
We have a much better understanding Who would like our product
Where to find them
How to encourage them to try it
How to help them understand and use it
Tools Google Analytics to measure Acquisition and Activation
Goals, (tried KissMetrics, switched back to GA) Custom Events Campaigns
MailChimp to enhance Referral and Retention Drip campaigns Autoresponders
KissInsights Surveys for Customer Satisfaction
A Homegrown Report and Spreadsheet to track Revenue
EditMe for collaboration
What is EditMe?Easiest way to create collaborative websites
Combine the learning of everyone on the team and improve the way work gets done.