3RM Founders Update - May 2023
An update on the progress of 3RM for the month of May. In this update, we cover highlights, lowlights, key metrics, appreciation, and goals for next month.
🧱 As a reminder, 3RM.co is building the infrastructure required for enterprise sales in the decentralized internet. We’ve launched our first product, a Telegram CRM, that allows teams to manage their end-to-end lifecycle that exists directly in Telegram.
🌱 Summary
In May, we hit all-time-high records in new users, active users, and almost every other statistical category that we measure. This improvement can be attested to our team’s resilience in consistently improving our native Telegram integration and improving our success rate to 99%.
With the integration (a consistent headache of tedious work for our team) behind us, our team is now expanding the scope of the CRM and network products. In June, we plan to ship more high-impact features than any other month prior.
Since our February launch, we’ve onboarded 363 organizations, yielding 511 users, who have collectively imported 20,000+ conversations that have been comprised of 30,000+ unique participants.
This month, we are asking for more support in helping shape our vision memo. We are putting more priority on sharing our vision with the world. We would like to start by sharing our memo with our direct investor network. If you are interested, please reply and I will happily send it over! I would love to connect further on what we are excited about.
Thanks again for everything. I look forward to sharing more updates in the coming weeks.
💬 Asks
Provide Feedback, Edit, Proof Read, or Help Improve Our Vision Memo
During May, our leadership team spent a substantial amount of time crystallizing our vision for the future of 3RM. We’ve put together a Notion page detailing the problem, solution, timing, market, and competition that we are building towards. It would be incredibly helpful to share our ideas and vision more to get feedback and dive deeper into the opportunities that we see ahead.
🙌 Appreciation
Thanks To Jasper de Gooijer of Seda Protocol, David Silverman of 3SE Holdings, Alex Lin of Shima Capital, Joe Mahon of Lechuza, and Grady Wells of Distributed Global
In our last update, we asked for support scoping out a variety of topics between tokenization, social graphs, ZK, and more. Each of these people stepped up and provided their time and resources to support our team. Thank you so much!
📈 Key Metrics
Go-To-Market Analytics
We saw an overall increase in users and organizations that signed up for our waitlist in May but we’ve only been able to onboard ~30% since we launched. Similar to other enterprise software, we’ve found more success activating our users through a very hands-on consultive approach to setting up their CRM tooling. However, in June, we expect to grow our top-of-funnel and begin more aggressive outbound marketing campaigns as we have found ways to begin streamlining our onboarding flows.
Waitlist - 1,581 users, up 17%
3RM Company Twitter - 1,161 followers, up 1.5%
Twitter BD Community - 148 members, down 2%
Telegram Broadcast Community - 147 members, no change
Telegram Web3 BD Group - 216 members, up 4.1%
Product Analytics
Our focus for May was continuing the habit-forming behavior we saw from some users and expanding that as widely as possible. We saw a 40% increase in the number of orgs using the notes and follow-ups features (from 37 orgs to 52), and heard from users that they were finding a rhythm that made them much more productive.
We were very excited to see the pace of orgs adding Telegram chats continued faster than ever, including batches of new chats added from those who had already imported hundreds before.
With 10,957 chats added in May, our “hidden network” of Telegram users has expanded. Across 20,056 chats that our 512 users have added, we now have records of 30,659 unique chat participants. With the upcoming Network product, we plan to tap into the latent potential for viral social growth.
Each chat represents a relationship, project, deal, opportunity, or partnership between two organizations. We believe there’s tremendous value in this graph and this will feed in perfectly.
🌧 Lows️
Importing Chats Grows, Notes/Follow Up’s Don’t Change
In May, the team was hyper-focused on improving our direct integration into Telegram. We were able to successfully navigate some difficult engineering problems. As a result, we now are recording a 99% success rate in our ability to import the data directly into 3RM!
However, we have noticed that follow-ups get better adoption than notes. In our discovery we understood this is because notes need to exist in a software that is their team’s system-of-record, for many that’s their existing CRM like Hubspot. Follow-ups, on the other hand, are useful for individuals. We are experimenting with integrating GPT-chat, adding more properties, filtering context, and adding more diverse contact/relationship management. We have a tremendous amount of confidence that we’ll be able to unlock usage in the next month and are looking forward to shipping more features than any other month!
🚀 Highlights
Since our February launch, we’ve onboarded 363 organizations, yielding 511 users, who have collectively imported 20,000+ conversations that have been comprised of 30,000+ unique participants
We’ve seen our software naturally integrate into the foundation of communications between web3 organizations. While we are not able to view the subject matter of the above data, we have been able to shape a powerful social graph that we believe will play an integral part in building the future of professional networking and sales.
Increased sense of clarity on vision and roadmap
Our leadership team spent tons of time together in May to reformulate an updated vision and strategy. We’ve started to map out value props for a protocol and align with others in the space who may want to build on it.
Our ideas for a professional network are also shaping up to focus on the key problems we hear in the space in the order that they are likely to be adopted. We’re envisioning a viral, game-like experience that takes social selling to the max; to not just create connections but also foster them past the initial meeting.
With more clarity around what the protocol and network entail, we’re feeling much more confident as a team in how we move next.
🛣 In June, We Expect To:
Expand the scope of our CRM product
To serve a broader set of use cases, in June we’re launching:
Customizable Properties for Status, Owner, Source, Priority, and Category. This will help small teams rely on 3RM as their only CRM.
Contacts and Organization records are automatically created from your imported Telegram chats. Since onboarding is one of the huge problems any CRM faces, we’re excited to be using GPT-4 to infer the organizations from each chat title and auto-populating and enrich the CRM records for our users.
Pipeline View — a kanban view to manage chats by status, helping teams coordinate their activity and visualize it more clearly.
Altogether, these changes amount to a lightweight yet complete CRM experience, giving many go-to-market teams everything they need to operate in the space.
Launch experiments focused on the Network product
As mentioned above, we see a massive latent potential in the hidden B2B network around Telegram chats. We plan to experiment with a matching service and events that help the network emerge and engage with each other before productizing our findings later this summer.
Thanks so much for reading and look forward to chatting soon. Don’t hesitate to check in and happy to set up a time to connect with anyone.
Cheers,
Jackson + the 3RM Team