Productive Weeks
The last time we checked in, we had finished with our product hunt review and analysis. This post is a bit overdue, but only because we've been very busy. Let's see how quickly we can catch you up.
Extending Our Runway
Through various sources, include SRED, IAP and the CMF, we have been able to extend our runway by up to 6 months if we’re diligent with our spending. This took a huge portion of my time, creating reports, analysis, signing agreements, etc.
New Deck
We have a new pitch deck, and a new vid for you to watch. It’s definitely tighter than the one we released in early January.
Team Sales
Over the past month 2 new teams from very well known companies have picked up group licenses. This puts us at 4 teams, plus 1 if we’re successful in converting an ongoing conversation with another company.
Customer Base Research
We completed a deep analysis of our customer base. Combining outreach to 3 segments of users. We were interested to know 3 main things:
- Why people stop using it on the first day of trying it
- Why people who use it for many days do not convert to purchasing
- How people who pay for Flow see its value
Here are a few key insights from our current subscribers:
- Definite Value in Flow, Many Believe it is Under-priced
- Design Teams Want to Govern Design Production
- Flow Has Cracked Great Code-Gen
- Universal Export for UI Animations is the Killer Feature
As for barriers to entry, those who don’t get past the trial there were some interesting, if not obvious, takeaways:
- Lack of understanding of Flow’s thinking (how to use Flow)
- Lack of Android specific code (Lottie stop-gap)
- Lack of XD & Figma imports
- Previous experience with code export (unaware of improvements)
We also performed an in-depth analysis of the cohorts of people who currently pay for Flow. From this, we’ve determined that there are 3 personas that purchase our product. For example, we found that a majority of purchasers are Senior-level designers who run teams and are focused on efficiency, and who want more control over how final products look and feel.
I’d love the opportunity to show you more. If you’re interested, please reach out to me.
Marketing Experiments
We ran ads for two specific cohorts of people on LinkedIn.
- Senior-level Designers in the Bay Area.
- Senior-level Designers in Austin.
We tracked conversion to our trial activation page.
There were 0 conversions.
Ad experiments for us have always been terrible. So, either we’re not at a place where we can spend enough, or there’s some marketing magic touch that I’m missing.
Loads of Content
We produced a lot of docs and tutorials in the last few weeks.
- Changing a Button to a Hover Element
- Copying Keyvalues and Tracks
- Integrate iOS
- Integrate Lottie
- Manage Your License
- Missing Layer Bug
- Animating a Toggle Button
- Creating an Orbit Animation
- Shape Morphing Tutorial
Open Source Repos
We set up 3 open-source repos for our Flow Common software. We also created a Cocoapod for iOS, an NPM module for React, and a CDN for the Web. Integrating Flow is now easier than ever.
Investment Memo
We’ve also put together an investment memo, for a quick overview of some key questions about our company.
Check it out: June 2020 Investment Memo
