Email Automation Sequences

About 3.8B people have used email at least once in 2019

I have written about personalized emails before, but never really covered about the state of email automation. Companies of all states and sizes send automated emails that get triggered when you complete an action on their website or app. User signups forgot passwords, abandoned carts, shop purchases, deals of the week, newsletters, rights issues, account statements, social media updates – every app or website will utilize email automation to a large degree.

Email Automation Sequences are complex workflows that trigger personalized emails to customers based upon triggers and conditions

Just recall a recent service that you have been using and how many emails you receive from them. Be it a simple webinar that you have signed up for. The sequence will look like the below

  1. Welcome email after when you register
  2. Reminder email before a day
  3. Reminder email before an hour
  4. The webinar is currently ongoing –
  5. If you did not attend, join our next webinar
  6. If you did attend, an upsell or a survey about their product
  7. After 3 months, we have another webinar for you

7 Emails just for a 1-hour webinar. Why? Because people engage with it. It’s your primary identity bigger than any of your social media handles. Now similarly, recall when you sign up for a service or complete a product purchase – at the backend multiple email sequences are always running – pushing you to the next step, reminding you to take action, informing you about their new product and service

Just how complex are these email sequences ?

Detailed email sequence for an e-commerce firm
Another Email sequence for e-commerce companies

Email continues to be the most direct way to reach customers, not Facebook, not Instagram, and not Twitter.

Which is why there are hundreds of email automation service providers catering to companies of all shapes and sizes. If you are looking out for more templates for motivation, just visit Autopilot HQ – you have email automation sequences for SaaS, subscribers, follow-up emails, split AB email tests – close to 155 different types of email automation sequences available.

The importance of having a drip campaign is well known to all marketers – even if the first cold email does not work, the second one might or the third one after 2 months will definitely work. If your KPI involves increasing customer signups and reducing churn, check out the below automated examples

Re-Engage: Check this email from Asana for users who have not logged to win back customers who have not logged in for a long time

Upsell at different points in the customer journey – Vimeo does a good job of it

Win-Back after Cancellation

Abandoned Cart: Very necessary to have to push the customer along the journey

Welcome Email along with free + Upsell:

Webinar Reminder

How to start incorporating in your website?

The plethora of options available for email automation sequences is bound to confuse newcomers and experienced professionals alike. That is why I have a written a quick guide to choose the best option based on your requirement

  1. eCommerce on Shopify, Woocommerce, Bigcommerce, etc – < 10K customers

    Do not try to go for fancy alternatives, just look at their respective app stores, and choose the most popular email platform app available. It will save you tons of time and resources with access to ready-made templates.

  2. Blogging – WordPress

    Sendpress, Mailpoet, and Mailchimp remain the best options available. If you are creating a paid newsletter publication, take a look at Substack which will fulfill all your requirements quickly.

  3. Bootstrapped SaaS Firm < 50K emails a month

    This remains the most competitive category as companies want to lockin the company with the pricing usually per customer. Some of the available options get expensive quickly once you get outside their free tier but if you are a new company, it’s just simpler to rent rather than build.
    Autopilot, Omnisend, Intercom, Mailchimp, Hubspot, Campaign Monitor are just few of the companies competing for this space. My favorite option would be Intercom due to integrated chat and email to quickly resolve customer queries. But for complex user onboarding, I would prefer Autopilot. Be prepared to shell out close to $150/month for an email platform at this size with integrations for SMS, Chat and CRM.

  4. SaaS Firm < 2M emails a month

    At this stage, you will be probably spending hundreds of dollars on your email campaigns. Depending upon your ROI you might be looking for some cheaper options to cut costs. See no further than Amazon SES – 2.5 lakh reliable emails at less $50/month. But you might have to manually set up email sequences and code API for the same which is time-consuming.
    Sendy (one time fee of $59) + Amazon SES – becomes your most preferred option now. Check out this blog post for more options

  5. Self-hosted Newsletters

    If you have huge email lists > 1M subscribers and are planning to go for mass email campaigns, then Amazon SES + Moonmail remains the best option for you to get started. $5/month and $1/10K emails is a great way to start your email campaigns
  6. Enterprise Firms

    Marketo, Pardot and Adobe Campaign – Large firms who are looking for dozens of customizations, run multiple campaings and have a team of marketers

Sidenote: Good email copy is a great website if you are looking for motivation on how to write great email content and pageflows if you are looking for beautifully designed newsletters

Do share your thoughts on email automation sequences below

Why a CSS Kit made $500K in 3 days!

CSS Kit makes $500K

And that too the early access version!

Everyone must have used a template in their professional careers- may be for creating a deck, a video, or a website. Companies have their own standard decks which serve as a great starting point for any newcomer. Software Developers use all kinds of starting programming starting points – Ruby on Rails, Laravel, WordPress, ASP.NET, no project these days starts from scratch. Why? To save time and resources, it’s better to build on top of other’s work which will get you to Launch Day faster.

Tailwind CSS is an open-source framework to build apps and websites faster currently being used by close to 50,000 for developers at last count. (Bootstrap counts 1.6M users). You only need to view the gif below to understand what it does and how massively useful it is for everyone.

from Tailwind CSS website

Its creator Adam Wathan has been working on the project for free since the past 3 years to make it more and more useful for all developers and decided to create two modules for UI components, pre-existing code for the most common elements costing $149 for a module and $249 for both modules. It was a massive success post-launch with Adam Wathan netting $500K within a short span of 3 days. But beyond the headlines, it took him 3 years of hard work to reach there. Why were people ready to pay for something even if it was not fully finished yet? Just due to the massive promise it holds to save their time at a later date which is more important than the $250 being asked for. (Avg Rate – $35/hour, even if it saves them 7 hours – its worth it). I’m sure that lifetime savings would be far far greater than that

What interested me the most was the demand for templates and UI kits across. Consider Avada Theme, since its inception it has grossed close to $35M in revenue so far for the past 8 years with close to 600K sales. This is not the theme or UI Kit, there are hundreds of others making millions annually from Codecanyon.net. Even Mitron App, the supposedly Made in India app by IIT student, has been brought for just $34 from Codecanyon. Consider Grocery App, any restaurant can get the entire source code for restaurant delivery app for $60 with iOS App, Andriod App, payments, signups, Google Maps, Dashboard built on. How much? $80. You only just need to look for it. Want to build a light custom app for video meetings, chat, note-taking, music players? – you will find the entire source code which you use legally for under $100.

It might be the reason why now you have thousands of apps available on the App Store. You can launch any app you wish for $100 and 1 week of development time. 🙂 You can even launch your own coronavirus tracker website and app for $20 now.

Coming back to Tailwind UI. It’s not the only kit available on the market, there are hundreds of other templates for which puts on the fast-track to develop great looking apps and websites in no time!

The low-code and no-code movement will be adopted by developers first and then by marketers.

Codecanyon screenshot

The market size for these remains very hard to quantify because of the range of items available to purchase. Some consider it on a range of $10B to $20B but others peg it below $1B. Envato (Company behind Codecanyon) is on track to do $1B in revenue annually from its digital creators with strong growth.

If you are an entrepreneur, you don’t really need to code an app or website to launch something. Just buy something from the sheer number of plugins, themes, kits, scripts, solutions, templates available on the market. Not considering the sheer number of builders and SaaS services out there, the differentiator has now shifted more from coding to selling your service better. Let me know what you think in the comments below

Side Note: During my time as a front-end developer, it is always much cheaper to buy than build. Investing in a theme or starter kit if will save you countless hours later on. Still a golden time to be a creator.

What I am excited about in 2020 and 2021

Technology shifts at breakneck speed with new products being released every day, new patents being registered every day. Very few of them eventually see the light of the day and fewer make a mark on the world. 2019 for me was the year of voice-enabled speakers, machine learning, and multi-camera phones.

Although 2020 has turned out to be the year of coronavirus with remote working (Slack, Teams and Zoom) and contact tracing apps occupying the most mindshare yet the year is not over yet. There are several promising technologies that I am keeping a close watch on which can move to become giant ecosystems in themselves. These can be companies, products, open-source technologies, hardware platforms, new tech-enabled business models, but something that drastically alters the way people and businesses live and thrive. Although each warrants its own blog post due to its potential, seeing it all come together gives you a fair idea about where the world is heading.

1. No-code / Automation tools

Excel is the tool that kickstarted the no-code revolution enabling millions of people to create quick automation tools for carrying out simple tasks – Data Entry, Expense Management, Quote Generation, etc. It is bound to be around long after we will be gone with the way it has ingrained itself in people’s lives with many schools teaching it as a mandatory course. No-Code and Automation tools enable non-programmers to quickly build apps without writing a single line of code. Zapier is the best example for the same with an ARR of $35M, a 20X revenue multiplier would imply a valuation of $700M. This is for a tool that does simple tasks like saving your email attachment to Dropbox.
Tray.io, Integromat, Appgyver, Appsheet, Airtable, Bubble, and tens of others are trying to capture what Zapier and IFTTT have built. Let’s see what the next year has in store for them

Example of a no-code automation builder

2. GraphQL and Strapi and …

GraphQL is a query language for APIs and a runtime for fulfilling those queries with your existing data. In layman’s terms, it reduces the developer effort of writing custom API by a large amount with having to describe the data structure only once. Facebook and multiple tech giants are using GraphQL in production today. With tools like Strapi and Hasura, building out an API has never been easier today. I am pretty sure this is a technology which is here to stay

Side-note: Building an app has never been easier today, with hundreds of no-code, e-commerce, and automation platforms, I expect a lot of simple SaaS apps to be launched now. This is a nice list of these apps

3. Oculus Quest

Virtual reality has been hyped for too long now. But Oculus Quest might be able to finally get it right. With a low price point, hundreds of games and apps on the platform, and COVID-19 pandemic it has already started selling out. Having used it before, I can say the experience is extremely good and this can be the next big gaming moment. Virtual collaboration using https://immersedvr.com/ might be a good usage of the technology

Screenshot of Oculus Quest

4. LoRA

LoRA is a long-range (10km +) low power sub-gigahertz radio frequency protocol useful for battery-powered IoT devices transmitting small amounts of data. Although this technology has been flying below the radar, yet thousands of sensors are being manufactured with LoRA capability with a number of deployments taking place. New low power chipsets are being developed actively with LoRA now being used for utility metering in India, smart parking, reindeer tracking, sea turtle monitoring the usage for the same are endless. You only need to take a look at https://lora-alliance.org/showcase to understand the broad usage of this technology and subsequent platforms and deployments possible in all areas of life

Screenshot of LoRaWAN Certified Devices

5. FPGA

Field Programmable Gate Arrays (FPGAs) are semiconductor devices that are based around a matrix of configurable logic blocks (CLBs) connected via programmable interconnects. FPGAs can be reprogrammed to the desired application or functionality requirements after manufacturing. FPGA is a big deal, as they can be reprogrammed until the ASIC or processor design is final and bug-free. Intel acquired eASIC as a way to accelerate its designing and prototyping process. Imagine being able to work at the chipset level to create dedicated chips for AI, Image processing, Video streaming, the possibilities are endless. Market size is estimated to be close to $10B
This is a good article explaining the potential about FPGA

6. Netflix for Games

Pay X dollars per month, get access to hundreds of games, streaming, and an ecosystem. With Playstation and XBOX soon to launch their new consoles and Google Stadia already out in the wild, everyone will try to get as many subscribers and titles to their platforms and create lock-in.

GeForce Now has a small library of just over 400 excellent games

7. Windows for Linux

Microsoft has doubled down on its efforts on Linux and open-source to ensure its as easy to deploy enterprise apps on Azure as it is on Linux. Their new Terminal for Windows 10 works almost similar to any Linux terminal which appeals to the developer community to a large extent. Microsoft has been appealing to developers like never before having missed the App Store revenue stream, it does not want to be left behind for whichever new platform will come.

More developers -> more apps -> larger platform -> more Windows licenses -> more Azure servers -> more enterprises sign up

8. Animation Engines

I have covered the Unreal Engine can become the AWS of Gaming but the trend to bring animation tools and engines by the likes of James Cameron and Disney is slowly making its way to the hands of new creators with a tight budget. Expect a lot of innovations in this area to bring the creation of animation to everyone. Case in point – Pose Animator. I expect a lot of YouTube Creators to start using these new technologies.

9. Notion

Notion describes itself as an all-in-one workplace for notes, documents, wikis, projects, and tasks. It claims it is the missing piece for Slack. ( I had written about office collaboration tools before). With remote work being the new normal Notion’s usage has exploded in popularity. It is already a unicorn with $2B valuation

Have I missed out any worthwhile technology that can potentially change industries? Do let me know in the comments

The AWS of Gaming – Unreal Engine

Unreal Engine

Before starting the blog post, just take a look at this video

Unreal Engine 5 Announcement

The level of complexity achieved is astonishing, a single statue in the video contains 33 million triangles, the unreal engine demo as a whole contains a rendering of billions of triangles. Second, lighting which is a crucial component that gives depth or equivalence of a 3D is now powered by Lumen, a global illumination system that can work from millimeters to kilometers. If you look closely, the lighting source change affects the entire scene almost instantly.

Don’t fret if you have never heard of Epic Games, They started first by making games but later on moved to license their core infrastructure (Unreal Engine) which helps developers make games faster as well. The company last valued at $15B is growing by leaps and bounds now with major titles like Gears of War, Fortnite, Tom Clancy, Batman-Arkham City, Borderlands, Mortal Kombat, Dragon Ball Fighter, Street Fighter and hundreds of other games. The Unreal Engine now powers games build on all platforms – future and current, iOS, PS5, XBOX Series X, Windows, OSX which lets developers focus on building the game itself.

The new announcement also reduced the license cost for all developers with no royalties until $1M of sales have been generated after which 5% will be charged. If the game is sold via Epic Games Store, no royalty fees will be charged. Epic Games also launched its Platform service allowing developers to build real-time games like Fortnite giving it out for free.

What excites me the most is the usage of Unreal Engine for real-time in-camera VFX –

Previous versions of the Unreal Engine have been used in video games as well as films and television. Disney used the Unreal Engine, for instance, to create 3D environments and landscapes in The Mandalorian. Technology like LED walls and game engines allow production to “travel” to new locations without ever leaving a sound stage. A future is not far where filmmakers will never have to leave their studio to shoot a film. This can potentially save millions of dollars in production for film-makers.

In 2007, architecture firm HKS used a previous iteration of the Unreal Engine to produce a virtual environment of the new Dallas Cowboys stadium that clients could virtually walkthrough. As Hurricane Florence ravaged the Eastern seaboard, dangerous storm surge towered over a meteorologist – only she was safe inside a studio.

UK-based Pharmaceutical research firm C4X Discovery recently starting using Unreal Engine technology to visualize and manipulate 3-D molecules in virtual reality, with the potential to let scientists collaborate remotely in the virtual environment. But Virtual Reality is still a very growing niche with the technology not yet fully developed which makes sense for developers to use Unreal Engine as no royalties until the first million dollars in sales. Unreal Engine will sure power the games and applications built on VR as the people start to buy more headsets and developers build games on it.

Unreal Engine is slowly building out to becoming the AWS for Animation Engines. Epic Games is surely poised to reap the benefits, be it from developing games, royalties from its game engine, its game store, real-time in-camera VFX, virtual walkthroughs, etc

Did I miss something out? Do let me know in the comments below

Personalized Images in Emails

Email personalization has been around for a long time which ranges from having a simple placeholder for $name to more complex fields like showing recommended items based upon last purchase. In email marketing terms, is it known as dynamic fields that can be populated based upon personal data, behavioral data, professional data, social data, CRM data or other custom data sources of a particular subject. Why is email personalization so important? Studies have shown just have personalized subject lines can give you 26% higher open rates while revenue from rich relevance is 5.7 times higher than normal. Inserting image-based countdown timers resulted in a 5x higher total open rates than average.

Great tips & hacks of basic email personalization are:
> “From name & email” to reflect the name of account manager
> Adding first name of the customer to the subject line of the email
> Dynamic Images based upon location of customer
> Dynamic Images and CTA based upon gender and buyer journey

Example of a dynamic email system built upon Spotify and CampaignMonitor
An example of a personalized image inside an email

One case study from lemlists got them a 57% click-through rate for a survey. Now that is something big to talk about. According to them, it was inserting a dynamic logo and name inside an image which got them to such a higher click-through rate

Another great example I have seen in the wild of the best cold emails is by T-Shirt company Ramp Tshirts. They emailed close to 50,000 companies offering their services with a dynamic image of their CEO wearing a T-Shirt of the recipient company logo. Open rates above 50% and CTR rates were >25%. Their technical breakdown does cover the essential sources of using Hunter to capture email addresses, Clearbit to find the Logos and placeit.net to create the image previews.

Unlike Ramp Tshirt which had to rely on their own inbuilt system for providing dynamic images, you have various startups which provide you a quick service to create personalized emails on the fly

  1. Nifty Images: The pioneer in the space, you can create merge tags and countdown timers very easily using their service. Their pricing starts at $20/month for 50K opens which is a great ROI for the result which you would be getting. It can also support dynamic locations which can be useful for companies trying to get people in the nearest stores
  2. Lemlist: Lemlist is another great service to create personalized images and videos. It lets you create personalized cold emails at scale and can connect easily through Zapier, Gmail, SMTP, and Exchange. For $30/month with 100 emails a day is high ask but should be worth the trouble
  3. Hyperise: A recently launched tool that offers plenty of features to choose from to create personalized emails. It can connect well with existing tools that we use and at $30/month for a 1000 image impressions is well worth the ROI
  4. Marketo, Pardot, Adobe, MailChimp, CampaignMonitor (& 100 others) – These are the big email marketing platforms which offer a lot more impressive features and dynamic personalizations
An example of a dynamic image using Hyperise

A note on Dynamic (AMP) Emails

Ever since Gmail announced the launch of dynamic (or AMP) emails it has got the attention of all digital marketers. With dynamic emails, you can finally take action right in the inbox and not be redirected to an external website. It can be as simple as RSVP to a particular event, save a pin right in email or even browse relevant hotel bookings in Oyo Rooms

Emails have long been just a static piece of information that can get outdated pretty fast, this technique would ensure that emails are relevant and current.

Why did PayPal buy a Chrome Extension for $4B

Everyone must have read the current news of PayPal purchasing Honey which is a chrome extension that applies the best coupon codes on e-commerce websites. It operates as an aggregation for the top coupon codes available. The deal is very similar to one where Rakuten purchased Ebates for $1 Billion in 2014. Ebates was very similar to Honey where it tracked deals and cashback schemes and was acquired by Rakuten as a means to expand in the US network. Rakuten later renamed it as Rakuten Rewards and the all-cash deal has largely paid for itself. Why is the interest in coupon code websites so strong still? You can look at it through the view of a marketplace where shoppers and e-commerce websites are the two sides of the equation.

Shoppers are always hunting for a discount and using Honey, they are quickly able to find the best coupon code which results in a discount of them. What about e-commerce websites? Why do they partner up with Honey? Discovery, lower commissions, improved retention & lower cart abandonment for the customer.

Why lower cart abandonment? Basic human psychology on why e-commerce websites issue discounts, coupons & cash-backs. It is instantly attractive. But the proliferation of hundreds of coupon codes has now created a worry among shoppers that they are not getting the best deal and delays their purchase while they search online or on other stores for better deals. When the shopper uses Honey, it ensures he gets the best deal and ultimately leads to purchase decisions quicker.

Why lower commissions? All e-commerce stores run an affiliate network that ensures when the website through which helped you discover your product earns a commission. Overall it is much cheaper for e-commerce stores to run an affiliate network rather than spending thousands of dollars on advertisements. So overall, Honey ensures lower commissions.

Coupon Codes are still very big business for e-commerce. In 2019, retail e-commerce sales worldwide amounted to $3.53 trillion dollars whose revenue is expected to top $6.54 trillion dollars soon. The famous flywheel model also applied to Honey when it launched in 2012 when the founder was just searching for coupon codes. It expanded quickly every year where it kept on getting users as it kept on adding more merchants. It now had 17 million users and 40,000+ partnering websites. It had close to $100M in revenue in 2018 and was growing 100% annually.

Working out the financials, PayPal paid 20x revenue and close to $235 per user. This makes it a very pricey acquisition. So why did PayPal pay $235 per user of Honey?

  1. Addition to their Value Chain: PayPal already owns the payment processing for e-commerce stores. It can integrate coupon discovery right to its network of e-commerce stores. This will work both ways, PayPal can ask its huge e-commerce stores to integrate Honey as well for deal discovery. It is already one of the most popular payment providers, it won’t take long for it to become a top coupon code aggregator as well.
  2. Behavioral Data: Honey collects behavioral data about online shopping and can quickly create patterns. Such data is very valuable because it can improve the targeting activities of their advertisement. The European Union Agency for Cybersecurity has estimated that the average revenue per user in digital advertisements reached $59 in 2017. According to Paul Benno, a lecturer at Columbia University, the additional revenue that PayPal can expect can easily reach $1.37B
  3. Wallet Integration: PayPal can additionally integrate (question of when not if) Venmo with Honey so that all rewards can go into their wallets directly as a cash-back. This would increase the usage and members of Venmo, a huge win for PayPal
  4. Additional Commission: PayPal can renegotiate with the e-commerce stores for a higher commission from its improved power position or provide a complete deal for payment processing and deal discovery for the store.
  5. Revenue & Profit from Honey: Obviously, the current revenue and high margins from Honey will add to PayPal’s coffers significantly in the future as Honey is growing at 100% and is cash-flow positive

Note: San Francisco-based Ebates offers a website that offers customers a way to earn cash back when shopping online at over 2,600 stores including Amazon.com, Macy’s, Best Buy, Home Depot, and others. In 2013, 2.5 million members spent over $2.2 billion on shopping through Ebates. With the acquisition, Japan’s largest e-commerce firm now has a new entry point into the U.S.’s growing e-commerce market, as well as a means to offer similar products, including online e-coupons, back home where they could complement Rakuten’s own online shopping loyalty program, Rakuten Super Points.

The Rise and Rise of Office Collaboration Tools

What is the typical workflow in any corporate office environment? In most companies, it is heavily run by the ubiquitous and familiar service that we all know about. Email. Want to share some files – email, update a weekly report – email, escalate an issue – email, drop a note quickly – email, remind someone – email, etc. But is it the best possible tool for collaboration

Email remains Swiss Army Knife for online communication, but not the most effective tool for collaboration

An example below of a weekly meeting working

Email Workflow: Employee A receives a weekly report from a vendor or analytics service. He forwards it to his manager who looks at it the next day. He asks Employee B for additional metrics and information for the same. Employee B takes a day to compile and resend it to the manager. The manager realizes there is a problem and forwards it to Employee A to take action. Employee A sends it back to the vendor for correction. The vendor updates his service (A date issue) to resend the correct report.
Time Taken: 4 days

Slack Workflow: Slack App from vendor automatically shares an excel report on a shared channel with Employee A, Employee B, and manager. Employee B notices the date discrepancy and replies on the same channel marking in red the problem. The vendor acknowledges and shares updated.
Time Taken: 4 hours

The shortcomings in email for collaboration are many – lack of history, lack of rich integrations, lack of shared platform, lack of file management, lack of quick feedback and the list goes on. Another issue which then arises is the large number of people whose inbox keeps flooding because they are kept in a large number of email communications. Don’t get me wrong, email is great as a tool, but office communication now requires a much faster, quicker and more collaborative tool. It has become the leading team collaboration tool in the past few years with 12+ million daily active users

Take a look at the excellent published demo here of what slack does

What are some great uses of Slack (or Microsoft Teams) that excites people ?

  1. Quick Video Call or Screen Share – Do you require a different tool other than email for a quick video call or screen sharing when it can be done right from one app
  2. Knowledge Management – Every team and company struggles with maintaining good documentation of processes, workflows, error management or just plain information about whom to contact when something fails. With the right app, you can ensure that all communication (including files) get saved for future employees to peruse
  3. Slack Bots – Utilize Slack Bots to inform Software Developers for new errors or server errors in their deployed software. Similarly, notify sales on new leads and proposal updates, notify marketers every time your brand gets mentioned on social media, remind finance in case weekly report not being sent out, notify HR about a new resume that got uploaded. There are 1500+ apps which is growing exponentially for every use case you can think of
  4. Scheduling, Calendar and Time Management – Set automated reminders to yourself, teammates, get informed about meetings every morning, automate reminders about your leave plan, you got everything under 1 roof. You can even add a message to your to-do list right from the app
  5. Shared Channels – What excited me the most was shared channels. Rather than keeping a hundred people in cc every time two companies need to work together, you can just use a shared channel to discuss, get clarifications, get approvals, all in one easy to use app
  6. Integrations – Do you use Google Drive, Asana, Google Suite, Slack has hundreds of integrations you can use and get started quickly.
  7. There are apps available which allow you do quick pollsremind you on birthdayscoordinate team lunchessubscribe to RSS updatesdirectly communicate with website visitors, it’s worthwhile to have a look at the Slack App Directory to see what people come up with
Slack Screenshot

As employees gradually move towards more remote roles, tools like Slack become critical for collaboration. According to research firm IDC, global “team collaborative applications” market is currently worth $3.5B and growing by an astonishing 75% every year. Consulting firm McKinsey said workplace communications technologies can increase employee productivity by up to 25%. It can get different parts of a company to work together, break hierarchies, spark chance interactions & innovations and get things done faster.

But whatever the critics say about the higher number of distractions due to slack, you cannot deny the wide variety of integrations Slack has managed to launch. All dominant video tools – Skype, Google Hangouts, Zoom, Webex are available, same for project management – Trello, Asana, Jira, Confluence, same for developer tools – Github, Jira, GitLab, Jenkins, CircleCI, Sentry, Datadog, etc. The shift towards dominance of Slack as the central collaboration platform for every type of office communication is happening, which is why it’s now valued at close to $13 Billion. Although it won’t be possible to replace email, but it will be possible to replace office communication through Slack

Digging in the financial metrics, Slack is worth about $25 for every dollar of revenue it brought in over the last four quarters. Other SaaS companies are worth around $10 for the same revenue dollar. Both metrics are rich valuations; some SaaS companies trade at far lower metrics as does nearly every other market segment. Its only rival – Microsoft Teams which already has a larger base (165M) than Slack as it is bundled with Office 365 offering a significant amount of growth. Slack also says many of its users are already Microsoft 365 customers but prefer to pay for its superior service instead of Teams

I would love to hear about what you think about Slack or Microsoft Teams