I did look at the numbers, and to the best of my knowledge, the reasons are because the growth in February was very high, and I think a lot of people tried the app and figured that it wasn’t a good fit, so they left.
This makes me think:
- I should position my app to target the right customers
- Deliver the right messages (e.g. on the landing page)
- Potentially give a longer trial period, so people have more time to evaluate if Black Magic is a good fit for them before paying.
I also send an email to ask people why they canceled their subscriptions. The most frequent feedback was:
- Black Magic gives a lot of data, but no suggestions on actions.
- They don’t have enough followers to make use of the CRM features.
Positioning the product
Based on what I learned, I think I know what kind of product I want to turn Black Magic into.
Since the beginning, Black Magic was an “all-in-one Twitter tools” kind of service. But since the introduction of the Magic Sidebar
, it gets popular as a Twitter Analytics & CRM tool.
The hard truth is that I can’t build a product for everyone.
I advertised Black Magic as a Twitter tool for everyone in the early days so that I can capture the most eyeballs to the product. But now, advertising it as such can be harmful to both me and the customers.
So what’s Black Magic’s position?
I want to build Black Magic to be a product that focuses on people who have a decent size audience, typically 1,000+ followers.
The product will focus on:
- Analytics, insights
- CRM (reminders, take notes, search, tag, etc.)
- Tools to manage and engage with the audience
- Data and reports
This tweet from Arvid summarizes it very well: