From failed product launch to $2m ARR
From failed product launch to $2m ARR
What I learnt about best practices, iteration, and listening to customers as we turned a failed launch into growth momentum.
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I was working remotely for two weeks when we launched the new Kayako. The launch – a huge deal for the 110 employees that had been working on the new product for the last two years – happened over Google Hangouts and Slack. Everyone joined a video call, with champagne and cake ready in the offices in London and Gurgaon, India.
Everyone had a part to play – it would only happen if everyone had typed a custom command in our Slackbot to take the old marketing website down, push the new one live, and remove the restrictions, finally opening up the new product to the world.
We were confident. The new Kayako was really different from anything else out there: a new customer service and live chat platform for companies that obsessed over their customer experience. It killed the concept of ‘tickets’, and instead promoted a single, effortless customer relationship across contact channels.
Our target market away from IT helpdesks and technical support teams to a new ‘customer-service-as-growth’ persona. With this, we released a new brand, pricing, and positioning. Gone was the dark blue, corporate feel that was a hangover from the 00’s; we created a brand that felt comfortable, personal, and effortless.
A few months in, that confidence had been chipped away by the reality we were facing. Low trial conversions. Product stability issues and bugs. Negative feedback. Revenue was falling. Accounts were cancelling after a few months.
We’d gone from adding thousands of dollars in new contracted monthly recurring revenue (CMRR) from the old product every month, to just hundreds.
It was bad. We got together in a war-room scenario: what was happening, and how do we fix it?
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