It’s been an enlightening season at Mixtroz. In early March we pivoted the business to virtual to meet a new market need; successfully pre selling the new feature and deploying it fully by May. Over the course of the Summer months, while we experienced immeasurable loss, we worked hard to make up for a dip in revenue that we experienced in direct correlation to the pandemic resulting in 300% growth Q2/Q3 and we are tracking toward 60% growth from 2019 for the year in the year that our initial market was eliminated overnight.
MARKET - The virtual market is currently valued at $78B with projected growth to $774B by 2030. Like Mixtroz LIVE we’ve found space in the market well-positioned as a tool opposed to event software that can be used to increase engagement and collect useful data wherever people gather (meetings, orientations, training, etc). Looking forward, the market will be hybrid and we now have an offering that meets this new requirement.
PRODUCT - Our next dev sprint is focused on our video hosting & scale. We will begin a transition from our open sourced platform to something more reliable like, Amazon’s new VCM (video conference management) platform, Chime.
ADOPTION - We’ve learned that SDR (sales dev rep; cold calling) led growth is not the right approach for Mixtroz at this stage, instead as we move forward we are focused on product led growth. In addition, our icp (ideal customer profile) has shifted and we see both traction and potential within organizations with ‘network effects’ (i.e. National HQ, chapters Nationwide) which allows us to play on the virality our product has always exhibited.
TEAM - We are kicking off the search for an in-house technical lead, now is the time!
TRACTION - Revenue is up, Q2/Q3 growth = 300%. Within the last month we’ve welcomed Alabama A&M, Auburn, Johns Hopkins and Emory among others to our growing customer base!!!
FOUNDERS - We are still standing and taking the words of the late, great Chadwick Boseman with us wherever we go, “I don’t know what your future is, but if you are willing to take the harder way, the more complicated one, the one with more failures at first than successes, the one that’s ultimately proven to have more victory, more glory, then you will not regret it. This is your time.”
With additional funding our focus at Mixtroz is growth and the build out of phase one of our ‘touchless conversion sales model’ = true SaaS.