Product Launch & Feedback
User Acquisition Strategy
Qualitative & Quantitative Feedback
Before the launch, we collected a list of over 200 people on our waitlist through personal networks, incubators, business partners' networks, online platforms, self hosted webinars, etc. After launching our alpha version app, we gained many invaluable qualitative and quantitative insights. Here are some of the findings:
One of the most interesting findings was that over 80% of app downloads were directly from the app stores, which was not how we planned. To avoid Apple's 30% commission (this was before Apple backed down on its controversial in-app purchase rules), signup was not available in the app, and we would direct users to sign up on our website and then send them an app download link to sign in to the app. However, after seeing the data, we realized we needed to enable in-app signup.
After talking to some users, we learned they loved the user-friendly setup flow, which included bank and software integrations, and how easy it was to navigate the app. However, they felt it was missing a welcoming experience when they first got into the app. So, in the next version, I added a guided tour that combined tooltips and financial tips for introducing the app and making them feel that "we got them."
"Bank connection anxiety" is real. 7 out of 10 people who signed up abandoned it at the bank connection step due to a lack of trust in the brand, so we started co-branding with organizations helping BIPOC business owners and sharing the same social mission with us. We've also added elements on our website that increase our credibility, like business partners' logos, privacy and security information, testimonials, etc., and started building our digital presence through social media.
- This project has sharpened my conceptual skill in understanding complex information and thinking on an abstract level to formulate ideas
- Being a startup founder gave me the ability to create and evaluate solutions from different perspectives and holistically
- Working with the dev team and API vendors helped me acquire knowledge of mobile development and how APIs work
- Gained a deeper understanding of the importance of product prioritization and its business impact
- Learned new skills and tools such as Agile Development, digital marketing, go-to-market strategy, Jira, Studio 3T, etc.