Company

Signeasy is a cloud-based e-signature and document transaction management solution for businesses, with over 8 million users globally. A pioneer in mobile-first digital signing, Signeasy strived to address the inconveniences faced by individuals and businesses stuck deep in the print-fax-scan paperwork processing routine by developing a solution to sign and send documents anywhere. Today, Signeasy is available on any device, serving over 160,000 customers worldwide.

Goals

As Signeasy pondered over strategic directions such as moving their focus from individual consumers to business users, they realized that they needed easier access to richer data to aid them in making better decisions.

“We were looking for a product analytics tool to get visibility on important KPIs such as signups, activations and purchases. Apart from the numbers and trends, we needed the ability to deep dive and slice and dice the data according to our needs,” shared Anish Thimanna, Product Manager at Signeasy.

Boosting activation for product-led growth

With their eyes on product-led growth, the Product team at Signeasy was laser focused on key metrics for acquisition, activation, retention, revenue and referral (AARRR). Their next big problem to solve was to improve their activation—the pivotal point when customers reach an aha moment and where they find value in the product.

“Activation is an important piece of the puzzle for Signeasy’s growth strategy. Other than increasing our number of active users, it also has a direct impact on our revenue. Our goal is to improve activation by 25%, which we predict will help increase our MRR by 34%,” Anish added.

Solution and results

Since 2014, Signeasy has adopted Mixpanel to track a large number of customer lifecycle metrics.

“We wanted to reduce the number of questions asked by Product and Marketing to the Data team. Mixpanel is very easy to use and understand without any technical background. This helps Product Managers become more independent in getting the data and visibility they need to track performance and obtain product insights,” said Hema Ramaswamy, Data Analyst at Signeasy.

Staying on top of metrics with Dashboards

Signeasy tracks their myriad of metrics through several dashboards on Mixpanel to enable them to get a birds eye view of various reports at once.

“We use the Flows report to analyze user actions before they sign up to derive the dominant user journey they take. From there, we can plot the journey as steps within the Funnels report to identify key points of conversions and drop offs, to optimize the journey and ultimately drive more users to complete the signup action,” Hema explained.

Signeasy also creates dedicated dashboards for important campaigns, which allows teams across the organization to monitor performance. For example, for their Black Friday marketing campaign in 2021, the Product team created a campaign dashboard that allowed the Marketing team to observe the real-time user journey of how users were interacting with the promotional banners. It also allowed them to track the performance of various banners that were being tested in different locations and with varying coupon values, so they can make quick optimizations to maximize conversions to purchase.

Optimizing the first-time user experience with Funnels and Flows

To tackle the challenge of improving activation, Signeasy was quick to identify the importance of optimizing the first-time user experience. It was a great opportunity to guide users to activation immediately after signing up. 

“We made sure to handhold all users from signup all the way to the final stage when they signed a document and became an active user. If this process did not exist, new users would sometimes land in the system not knowing what to do. We want to remove the obstacle of figuring out the system and reduce the need to reach out for help,” explained Anish.

Signeasy defines activation as the moment a user imports or signs their first document. Thus, they tried to incorporate these two actions within the user’s onboarding process.

From their Funnels report, Signeasy noticed that 22% of users were dropping off at the email verification stage after signing up. Their hypothesis was that users were dropping off when they had to exit the Signeasy app to verify their emails.

With this insight, Signeasy decided to change the onboarding journey to allow a seamless one-click access to the users’ email inbox and back to the app. This will help reduce distractions and get more users to continue the onboarding journey.

The first activation step (when a new user imports a new document), was also optimized. From the Flows report, Signeasy realized that most users were importing documents through ‘Files’ which was originally placed at the bottom of the screen. After noticing this trend, they decided to reshuffle the options to move ‘Files’ right to the top where it was most prominent.

The optimizations proved successful with immediate improvements in conversion rates within a 30-day period. The drop off rate at the email verification stage dropped from 22% to 17%, while the conversion rate of signup to document import improved from 56% to 65%.

Overall, the total conversion rate of new users who successfully completed the onboarding journey and signed a document improved by 15%, from 48% to 55%.

“It is great that we can quantify the results of our experiments as we constantly try to improve our product. For any product to succeed, you need to understand the users and their journeys. Unless there is a tool to analyze the data and quantify key metrics, we are in the dark. If you want to go deep and you want everything in a visualized pattern, Mixpanel is the go-to software,” advised Anish.