February was a good month: the rapid growth in customer numbers drove a new sense of urgency into us. The anxiety to grow changed into a feeling of ‘how can we manage and scale it’. Creative conversations about possible campaigns made way for ‘what do we need to do to optimise the customer journeys; how can we drive more partners faster and what do we need to do for distributors implementation asap.’
Exactly what you’d expect at this stage. Not easy, and by no means solved, but expected. This also means that for the next few months we will be focusing mainly on execution.
Feb in summary: Continuing to report against our key OKRs:
Acquire Activated Customers:
- Connected and active customers up 370% m-o-m.
- Implementation planning with 2 of our 4 distributors have kicked off in earnest. With detailed planning sessions about the API requirements, customer journey expectations and adoption campaigns.
Sign-up Merchants / Retailers:
- 26 merchants signed up.
- 82 in the pipeline of which we expect to convert 26, which are slightly less than our expectation in Jan.
Build Sustainable & Scalable Product, Tech & IP:
- Customer activation rate 41.9% (up from 34.8% in January).
- Over 17,360 upsides have been paid to date (8,380 in Feb alone, which is up 330% m-o-m).
- Auto-match rate continues to be above 99%.
- No major incidents: Production stability and performance remains good.
- Overall success outcome rate of 81% on customer calls (down 8%).
- We are feeling good. Growth has a wonderful way of aligning teams and interest. I felt the team pulled together incredibly well during the month of Feb. We need to watch for burn out and continue to support each other.