(Leo admiring the sea with his son Feli)
Hi everyone, this is Emilie queen of culture at Wild Audience. 👸🏻 Welcome to our Transparency Report series.
I am sorry to be late for this report. I have a lot of updates for you, Q2 2021 was another busy quarter and then the summer arrived quicker than expected giving us a chance to take a well deserved break. I will extend to the summer for culture and more personal reflection as it is now September.
As always, I have been checking in with every team member to gather all the numbers and insights and hopefully you will see some of them in loom videos at some point in the report.
All our past reports can be accessed on our Transparency page: here
Here is a little overview on how we spent our time during this second quarter:
The sprint projects included a lot of different projects such as:
- Help Documentation Project
- Content Creation (Youtube & Podcast)
- Growth Plan
- Partnership Program and Partner Campaigns
- 2021 Q1 Transparency Report
- Success Project
And many more projects but before I tell you everything about work, let’s talk culture and people because we all know this is my favourite thing. 🤩
If you know us, you know that we are very human focused and the well-being of every team member is something we really care about especially me. I am the queen of culture after all. I want Wild Audience to be a safe place where one can be their true self and where everyone feels supported and heard at anytime and in any situation given. I often feel like I am the mother at Wild Audience, looking after everyone, checking in with them individually to see if they are ok or not (it’s ok not to be ok, remember that), making sure everyone is resting and taking time off to do fun things with their loved ones.
Here are a few pictures of the team doing their things when not behind their laptop (see Leo above):
More thoughts and pictures to come at the end of this report.
As usual, we really enjoy taking you along the journey of growing our new software products (Wild Mail & Wildmetrics) from €10,000 MRR to €50,000 MRR via this Transparency Report and we hope you still love reading it.
Just in case you’re new to Wild Audience, here’s what we do in one sentence: At Wild Audience we help companies build authentic relationships with marketing automation to grow their business.
We do that through our suite of products:
- Wildmetrics [API-based marketing analytics for funnels & ads]
- Wild Mail [ActiveCampaign with two awesome benefits]
- Relationship Funnel [a step-by-step online course to build a Relationship Funnel]
Let’s do this!
Here is a 2-minute video summary recorded by Bastian giving you an overview of Q2:
Let’s have a quick look at the numbers per month:
Summary for Q2:
- We added €80k in total ARR (that includes all our products: WMX, WM and RF).
- We added almost 7k in total MRR (includes all our products as well) and that is almost the double of Q1 which is amazing.
- We added a total of 77 new customers.
- Our Net MRR churn was -0.57% on average which means we are back below zero.
- Our MRR growth rate month over month was 27% (average was 16% for Q1).
April was definitely our best and strongest month in 2021 and Q2 combined. The average growth rate this year so far is 7% and we can see that we are above this in April and June but not in May. We have noticed that we always have one month per quarter that is below. At the moment, we are looking at having minimum €1k new business and €1k in expansion per month. We can see that in May we were below €1k in new business and that explains why our growth rate is lower. In April, we had two big expansions (between €500 and €2k MRR) and in June 6 medium expansions (between €200 and €600 MRR). Regarding new business, June is clearly the best scenario for us.
When it comes to our churn rate, we were negative in April (-0,98%) and May (-1.53%) which is a good thing and then went up again in June (0.8%). Hopefully this number will go negative again in the next quarter.
Overall, Q2 was a great quarter and we are hoping it stays that way or gets better in Q3.
In our attend to be as transparent as possible and improve (with your feedback), we thought we would include a new section to this report and share with you a little bit more about our expenses. In Q2, the total of our expenses was €94.5k which means that we spent an average of €31.5k per month.
On average this quarter:
- 31% of our expenses was spent on team salaries
- 0,3% was spent on advertising (we stopped running ads in May)
- 4,7% was spent on marketing (partner commissions)
- 5% was spent on operations
- 46% was spent on ActiveCampaign licence fees and AWS for Wildmetrics
- And 13% on taxes
Hope that gives you an idea on how we spend our money and if you have any thoughts on this, feel free to comment!
Always back to you guys! 🙂
In Q2, we had a total of 949 conversations with 460 customers which is very similar to Q1 2020. As you know, when it comes to Success we look at two things:
- First Response Time (aka how long it takes us to reply to and solve the initial ticket with a quality response).
Our First Response Time was 2h23. It is a little better than Q1 2020 but we are still above 2h. Our goal is to get closer to 1h but we seem to be stuck over 2h every quarter which is a bit frustrating but I am not giving up. I will keep working on it and think of ways to improve this. We might also have to rethink this goal and ask ourselves if it is unrealistic or not.
For that, I’ve had a look at the data of this quarter to see when and why we took more time to reply to your support tickets:
- Funnily enough, I was working on a Success project back in April/May and that took a lot of my time which means that I was slower at replying to tickets.
- We have team meetings or 1:1s every Friday and that means that we are not able to reply as fast as we usually do during that time.
- The holidays taken during that time also had an impact on the first response time.
Knowing this is really helpful for us to understand why we are struggling to reduce our First Response Time and hopefully it will helps us improve it.
2. Happiness Score
I am really happy by this report. We’ve received 40 ratings from you in 3 months and every single one of them was great. We always try our best with Benji to give you the best success experience we possibly can and we will continue to do so. I can’t thank you enough! 🤩
I also took advantage of Q2 to work on our new help documentation. Yes you heard me, we have created a brand new help center where you can find all our documentations for Wildmetrics, Wild Mail and Relationship Funnel. You can take a look here.
Here is a video from Bastian giving you a summary of what happened:
- The product team marked a total of 159 tasks in Asana (116 in Q1).
- And invested 574 hours into WMX (548 hours in Q1).
- We improved our Funnel Management and you can now save funnels.
- We worked on design & user experience for funnel feature.
- We built a new data infrastructure & architecture (this was clearly the biggest task of the quarter).
- We created a new database and migrated our old database to the new one.
Here is a little overview of how the time is spent on WMX per team member:
Here you have a top 10 of the tasks that took most effort (measured via time) to complete:
Here you can see the total of hours spent in Wildmetrics during this quarter:
More (and big) updates on Wildmetrics coming in our next report.
Marketing & Growth
This quarter, Benji is taking you on a little journey to see what happened:
We worked on 10 partner campaigns in Q2:
Our Youtube Channel looks a little bit different as you can see below and you can find a lot of new videos. Check them out here.
Summary Q2 2021:
- We are getting a lot of organic traffic (61% of our traffic is organic) thanks to our focus on partners.
- In terms of funnel performance and during Q2, we got 450 new leads. From these 450 leads came 170 new trials and 27 of them became customers. Not all our new customers go through this funnel and that is why numbers differ from the ones mentioned earlier.
- We updated our Growth Plan like we do every quarter.
- Benji worked on the partnership program to improve it and created 10 partner campaigns.
- He spent some time giving a new face to our Youtube Channel and published one new video (tutorials, interviews and much more) every week.
- We have also been publishing behind the scenes content and financial insights on our social media channels Instagram and Twitter every week too.
Not to mention that Benji went to Patrick Wind Mastermind BBQs this summer to build relationships and have fun with like minded people. Here are a few pictures:
I (Emilie) am writing this report sat at the terrace of my dad’s bar in a small village in France. I have been there for nearly three weeks visiting my family for the first time in nearly two years. It’s been incredible walking in the beautiful french countryside, foraging food and watching sunsets with friends and family. I didn’t realise how much I had missed it. This, among other reasons, explains why I am late with this report.
Here are a few pictures for you:
You got it now. Q2 was a very busy quarter for us, working a lot in the back end of Wildmetrics, Growth, Operations and Success. The team has been working really hard and it was essential to take a break. We do so many things at the same time (and we love it!) that we sometimes forget to look at the bigger picture and don’t see how much we do and achieve. At the end of Q2, we all felt the need to take a break and it was a good timing as the summer was finally here (sorry Leo, summer is on its way to Argentina too). If you’ve been following our journey for a while, you will know that the summer is when we all slow down and recharge our batteries. For us, it is a time to disconnect, step back and also reflect. It is definitely been a time of reflection on my side and I am sure for the rest of the team too.
During that time, our priorities change a little bit maybe as we slow down and that’s why things get put on hold like our team challenges and this report. It also means that we are slower at communicating things within the team but also with you guys. The good thing is that we have learnt to slow down and still show up for you guys.
So this summer was an opportunity for everyone to focus on themselves, spend time with their family and loved ones, do fun things and breathe a little bit. We really want everyone to disconnect completely and we have created a work environment that allows it. This is essential to me and everyone knows that I take it very seriously especially as the queen of culture. Don’t get me wrong, that doesn’t mean that we wait for the summer to live and enjoy life. This is not the way we see things (we encourage people to take long weekends and days off during the year) but it is a time when we as a team disconnect all together (just like Christmas).
This summer was even more special as everyone had a lot going on personally to say the least. Here is a little recap of everyone’s life lately:
This is Pancho and his beautiful family. This year, they’ve welcomed a little addition to their family Eli and adjusting to life with a new family member in a middle of a pandemic is no easy task. Pancho took a break this summer to travel to Spain with them. The holiday included a lot of beach time, a yoga festival and a van trip. This holiday in Spain was also in preparation of something very exciting as they are planning to leave Germany in a few months and move to Spain.
This is Bastian enjoying some family time, having fun and working with friends between Portugal (Ericeira) and Spain (Barcelona and Costa Brava). As you know, surfing is his thing so he’s been surfing a lot and went for a surf trip in Fuerteventura where he was also working. This summer, he’s been disconnecting completely for a few weeks to really slow down, enjoy the little things, spend time with family in Spain and reflect on Wild Audience and its future.
Benji has also been busy on his side buying and renovating his new flat with his partner Iris in Barcelona. They have also announced the arrival of their first baby which is wonderful news and we are incredibly excited for them. A lot of important life changes coming up and for that, some holidays in Costa Brava with friends and family were needed too.
This is Leo and his lovely family. As you know, they are currently living in Argentina, by the sea where Leo has started surfing. He’s been spending a lot of time with his son Feli, playing, going on adventures and visiting his family in the city. Something exciting is coming for them too as they are preparing to move to Europe (Spain) in a couple of months and we can not wait.
Last but not least, half of the team met in Barcelona while Pancho was on holiday in Spain. Leo and I were a little jealous but hopefully we can all meet next year for our first physical team retreat in 2 years. 😍
In Q3, there will be a lot of improvements and changes for Wildmetrics. The team will be working on:
- improving the loading speed of Wildmetrics and make it way faster than it is now.
- creating a trial & onboarding experience.
- creating the first version of billing.
- improving the way we import ActiveCampaign and Stripe data.
We are super excited to share it all with you as it feels like a new chapter for Wild Audience.
Thank you for being here and see you in our next Report 😌