The Complete Guide to Text Analytics (2022) Text analytics (or text mining) refers to using natural language processing techniques to extract key insights from chunks
In this Speak Ai Office Hours, we talked about filler words, shareable visualizations, updated reports, and work on pricing.
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1 – 0:00:00
Alright, we’re here office hours. This is 4. It’s been a crazy crazy day already.
2 – 0:00:06
That’s all I really want.
1 – 0:00:08
Does not know we work together but also live together and today woke up with. I don’t know if this is too much detail already but no, no hot water I I don’t I cannot do this in my pajamas on my cell but we’re still moving forward. We’re having a great time and with some very interesting things that have come together in the last week and I’m proud of us for sticking to. Weekly office hours. Even when we all do have so much going on. So thank you guys for joining me.
I think it’s a speak team. Today. We had a wonderful guest last week with Joe, the budget boss who gave some wonderful insights into how he’s building content. And Timothy, yes, I still to meet Timothy. All the talking that I do have the best question of that entire entire thing to just expose how he thinks about writing and the structure in the process that he goes through to actually do that.
Because our hot water off battle is in his room doing stuff and there is a person in the house trying to figure some stuff out so he will be interrupted intermittently. Going into mutan. Probably turning his screen off, but he is here and he still loves anyone who’s watching. He does not hate you,
2 – 0:01:12
so that’s the introduction of the day I guess. Just the idea here is every week we get together.
1 – 0:01:17
12:00 PM Eastern Standard Time on Friday and we talk about updates progress, some of the complex problems that we’re trying to solve, and anything that our team is thinking about people who are. You know using the system speak, watch this, but then also just we share this on YouTube and we’ve had wonderful sort of response from people who do not use the platform but are very interested in technology and natural language processing. And all the kind of work that we’re doing,
2 – 0:01:42
so I’ll shut up for a second Tim Lauren mute,
1 – 0:01:44
vatsal anything that you want to say right off the start. Excited to get started here.
2 – 0:01:55
Another we’re not going to be talking about certain things that are probably a bit more private,
1 – 0:02:00
but I’m always excited to learn more about the stuff going on development side. Monthly.
5 – 0:02:08
To share the updates on the product and it’s it’s hard to maintain mouth shut and right.
2 – 0:02:17
Yeah, you might see Tim little jolting today.
1 – 0:02:20
We’ve had some very fascinating things at the end of the week here, and it’s hard to contain our excitement. But you know, there’s a lot of responsibility for us with some of these projects to be taking good care of. Our people were actually using the system, and some of the projects that we’re engaging in. That’s all you’re off. Mute.
6 – 0:02:37
Anything that you’re thinking friends. This is the fourth officer. I’m so excited about that. A lot to talk. We have a lot to work upon right now,
3 – 0:02:45
but we’re all here so I’m very excited and looking forward to that.
1 – 0:02:49
Well, OK, where are we starting where we starting? A little thing that I’m actually most curious about is shareable charts.
4 – 0:02:56
Tim actually showed like a little video of the just the minimum viable product, I suppose, but I’m just curious like where’d that come from? Like why are we working on that?
2 – 0:03:06
And we plan on doing with it Tim. Share some more on that excellent question. You know, it still takes me to the why the shareable chance really is a an output of the system that we produce and what I mean by that is that we have the input bold media that that you do import into the system. We do our analysis, but the expert in the part that actually delivers the value, tangible PDFs, tangible PNG files, all of all the analytics that goes right into the those files is what we’re attempting to produce it. Democratize as much as we can with shareable data visualizations such as the one that we feel. Implemented for now media and text notes so that every in each category can be brought up and visualized within two different matters in the word cloud and in the bar in the horizontal bar chart, which really. Emphasizes the year, the recurrence of those words throughout the document, but.
Tyler might. Yeah, that’s a good example of a word cloud that you can export off of your media panel meeting site Panel, an published in LinkedIn like I did and we had an awesome as we just mentioned. Awesome interview with budget boss last week. An on this word cloud. If you were to zoom in you will see many of even a couple of names of his of Joseon.
Hum. The topics but also. His blog posts.
1 – 0:04:50
Does this make sense? And I think to add a couple layers in here, it’s a beautiful job. I remember our first you know word visualization. Tim, how you sort of upset with it just like it doesn’t?
2 – 0:05:03
You know, it doesn’t look good,
1 – 0:05:05
you know. And now I think we’re getting much closer to the output that we actually want. And it’s very interesting. There’s I’ve always found a fascination with sharing these an people see a word or a keyword or phrase, and it’s created. This level of engagement or interest. So just as one example. One of the I think it’s in here, but was in one of the other came up from the analysis with RSS feed and there was a podcaster who loved RSS feeds and uses them to create their podcasts that stuck out to him and he actually sent a message.
Started asking about how this automate, you know how speak work then all of this so it’s like a really good way to share the aftermath of a content in and have a conversation and then like have an asset that’s sort of interesting and valuable. So that’s one thing that I was really sticking out to me and. Tim, it’s not quite ready yet, but the part that is, I think is very exciting. Is this opportunity of what you’re doing around the aspect ratios? So Lauren, like the most common aspect ratios on social media, are one by one so square 16 by 9 rectangle and then 9 by 16, which is the Instagram story.
And so we are working on basically the ability to dynamically insert the word cloud into whatever aspect ratio you want, so it becomes shareable across all platforms.
2 – 0:06:23
Fires me up. I hope that Firestone just wanna update that.
6 – 0:06:27
We already did that. Any charity onto the testing platform right now. So that’s the beauty of that. Speak here is like, you know, we’re sitting next to each other, and that’s a beauty is like it’s already diploid and it’s coming live very soon and yeah.
5 – 0:06:49
Where are all working together and I would love to for the office to sit down as in her quarterly updated as we did too, because all of these ideas are coming from inside and also from you, the one who’s watching this and really cares about speaking.
1 – 0:07:05
I will take in consideration feedback of yours and and our own best thoughts about how to make this product even more valuable to you. And we had Lauren just in that very interesting moment, with the delivery of a couple projects with a new customer. Was this idea of this massive engine that in the end the final output is just a PDF or word doc and that’s what was the actual valuable thing. So how can we make something that is shareable? How can we make something that is just distributable and then adds value to our customers and users? I’m going to take a second here just to add onto this.
I’m sure you might know what’s coming. You might not. I love this so I’m. First of all, so we had. I want to give a little bit explanation for sharing my screen you can see.
Yeah, so this this is awesome.
2 – 0:07:51
We had a jam session with Justin Finkelstein who has been in here bunch of other great people.
1 – 0:07:56
I tag them in the platform and this this is to me. You know sort of. We have done this word cloud and this is the power of speech is like looking in what what is being talked about? What is being discussed and then how can we represent that. So one of the ways that we just showed with this wonderful word cloud that gives you all this different context and people see different meaning. And it piques curiosity and it’s just wonderful.
Shareable asset and I got a little too excited to one night. I think I had a lot of looking at a lot of transcripts during the week and I was like I need some creativity and so we took this jam session that we did an actually turned it into this interactive animation so.
2 – 0:08:36
The fascinating thing that’s all. And I had a discussion about this is how much this meant to people.
1 – 0:08:42
How much does this mean to the people who are part of the discussion versus the people that were not part of the discussion? So that’s one thing that we’re trying to figure out. Is this two abstract people who were part of it? They look at it like wow. We talked about Andrew Yang. Yeah, we talked about VR.
We talked about Canada in this, an invisible solutions the book. But as an outsider, how much context is this create for you? How much meaning does this have? And I just wanted to add one other layer. I’ll stop with that. One of the questions that came up from this is.
Is there a way for speak to automatically generate assets from conversations that turns like conversations into art? And the question that we had was? In this conversation, I created this manually and I was part of the conversation so I knew what things had meaning. But if I was not part of the conversation, how would I choose what was represented in that image and and how much of a gap there is from being in the conversation to not? And if you were trying to do this automatically or you truly encapsulate Ng what happened in in that conversation into that meeting?
So just I thought incredibly fascinating and difficult challenge to actually solve, and that’s that’s it. That’s fundamentally,
5 – 0:09:50
though, it’s much, much more. It’s it’s. It’s a great. Relationship in between with the understanding sort of from as the Outsider insider, but. Fundamentally, all this is about creativity and how any one of us expresses even on this and these office hours were expressing each were expressing ourselves and the more creative we are in, the more creative way we’re doing this, the more context we can provide by our expressions too. The person who who would see this so which means that that if the more sort of the more artistic ability we give to our users that speak.
Besides words such as creation of gifts for example. Also, talking out strong just logical structures which make additional context. Combining one great Evergreen tree as in ornaments on the tree, all of that is supposed to come together. And indeed, the so. It’s a very. This is one of the fundamental problems that we’re dealing with speakers, speakers, both speaking. It’s about speech, and it’s about the output that we can produce with our mouths.
And it’s not as large. For example as if sort of where I want to touch upon that executive speech. But I’m not going to.
1 – 0:11:17
It’s it’s about making you as as aggressive as possible too. Lauren did that answer your question?
6 – 0:11:26
So your question Lauren, I just want to come back to the original equation. What you ask about? And Tanner if you allow me to share a screen for a second,
2 – 0:11:36
I think so. I will give you a lot more context about the reason behind adding the charts and visualizing and saribal you gotta explanation from Tim and Tim and I first it will bring you to battle now. So now who are looking for this report for the very first time we just change the Mafia.
6 – 0:11:55
Also had a lot of work, a lot to include. At the different graphs into the into this piece. So what does that mean to you? Because you get the transcript from any other provider, let’s say order or many other Ralph, but what how the speak here is different from this part in Lauren. I will also add your you know what you ask about.
So this is the transcript with the timestamp on speaker. If this is the same transcript which we just saw the inside of that word cloud. But if I go down. The beauty of what we added last weekend. It’s coming live is this.
So now you have all these about what you talk about from all the insights, right? Is this sound cool,
1 – 0:12:40
Lauren? Come on Lauren, yes yeah yeah. Another question about in in the different conversations about the word and PDF,
6 – 0:12:53
but the beauty with the PDF and word both is like. Now you can jump. Let’s say I want to. I want to see what he talked about here. So now what’s going to happen is. It opens automatically to that video office over 3.
Go to that media and it is going to jump onto that exact transcript.
1 – 0:13:15
So OK, yeah, I think you’re just showing that you’re just we’re still seeing the PDF. Yeah. But what he’s showing wonderfully with his words is that it when you have access to this literally, if you want to dive deeper into the text, or like you’re listening to some,
2 – 0:13:33
you want to hear that exact moment or something really stuck out for you.
1 – 0:13:36
You literally just click on that timestamp and you’re going to hear back, right? In that moment it just open it, open it right up. It really is incredible.
6 – 0:13:44
So instead I actually got a call emergency. So it’s like you can.
1 – 0:13:47
You can click on any of this.
3 – 0:13:49
I don’t know why it popped up for a second.
1 – 0:13:54
My personal email from tab there no. I don’t know if you shared tab or if you share the actual full screen. I’m not sure how you owe it.
6 – 0:14:02
I just said OK, I just saw that I OK anyway, But anyway, this is the beauty of the PDF. Now you can jump onto the any moment on the speak and you can see where it’s going to go on this specific moment.
1 – 0:14:14
So yeah, I can see that shows like a URL to maybe like right click it and do a copier or should you just click and go right there.
1 – 0:14:25
OK, oh God, he’s got it there. Well, from from a research perspective, some of the organizations who are using this, it can really reduce the amount of time it takes to navigate through. If they’ve got dozens and dozens of recordings to be able to pull it up, identify the moments that matter, and then hear back, we’ve seen you know it’s a huge productivity boost, but then just user experience from actually reviewing transcripts and trying to make meaning out of all the actual files that have been processed and transcribed. So a huge addition that was quite a push, I think in about a week and a half that we had and. We went from again. No basically had to do a delivery.
The first time and the amount of work and efforts and hours that went into that delivery, and then the second batch of that actually coming and the reduction because of how much work was put in the first time was amazing and now the product continues to get better. We iterate with feedback and we have build what we are do believe is the differentiator. What we’re doing at speaking I which is not just transcribing speech to text is just one thing. It’s what are the other things that actually have meaning what? What other things are important and the better we can format the output.
Whether it’s the PDF reports or or word DOC reports or it’s these wonderful word visualizations that Tim is now created, the more value we create for our for our users.
2 – 0:15:44
Now do we answer learn? Yeah yeah. I guess I guess it depends on like who you’re delivering it to.
4 – 0:15:52
’cause like people, different people have different things. They are they think are important and have meeting there. So yeah. That’s a very good question.
6 – 0:16:01
So what is coming on the speed? Probably next two Sprint is giving you an ability to what you want to export into the word and PDF. So now you choose what you want to display in your reports. So becausw before we were predicting that because we had not much in terms of exporting other than transcription and insights. But now we are studying giving an ability. Do you want to export the word cloud?
You want to explode them barchart bodies under chart? Do you want to export the transcript with their timestamp or just the transcript? So there are many options we are working on right now,
1 – 0:16:34
which probably you will see in next couple of months. Yeah, I think you know the one you touched on something very fundamental to as some people are,
2 – 0:16:42
and this is the really exciting part.
1 – 0:16:44
I I find is people are deriving value from speak when they keep assets or video or media or text within the system. There’s already value there because of the analysis that we’re doing in the way that we format and in structured data in the way that they can retrieve it. So there’s a beautiful that that’s actually delivering value. But now we’re seeing this additional layer of if people are sharing publicly, whether they’re taking the embeddable player, embedding it on web pages, or taking a transcript, putting it on the page for SEO. Sharing social media assets or taking even you know, exported word doc or PDF and actually presenting to that someone, presenting that to a client or customer. So whether in the system or actually going out we have really done a lot of work to try to make that valuable no matter what the goal in the final outcome that you’re actually looking for is this outcome in sort of content creation strategies is in in.
5 – 0:17:38
In a simple term is extroverted, but we’ve also looked into the internal side of that and started looking into self talk and just finding the. Filler words that you’re utilizing to. Would you spend the night?
2 – 0:17:51
Fuck me where set me up nicely here. I just happen to have. Well, I will. I’ll share this because this I mean this. This is I can hear myself doing this already in this conversation. But this. Was the first real instance of this that so you had something earlier we did?
1 – 0:18:10
You did a search in the transcript after you did a presentation at one time and you typed in,
2 – 0:18:15
you know, and you saw like 56 or whatever the number was. And I remember you just being devastated about that. It’s like Oh my God, and that’s how I felt about this.
1 – 0:18:25
I had a 20 minute video and I programmed all the filler words to be extracted out from the conversation and I saw actually that I said 47 times in 25 minutes and it just hurt.
2 – 0:18:36
It hurts my heart still and it it’s it’s. It’s this very interesting thing because. What we’re not what I’m not trying to do and what.
1 – 0:18:45
No, I don’t think anyone is trying to do is become this robot that just talks perfectly and communicates and never you can be an amazing communicator and still use filler words and still use things like this, but.
2 – 0:18:57
It’s helpful to know that you are doing it at this amount and the shock from seeing some of the numbers on this have changed the way that I’ve now communicated since I first saw it. I can. I can now have this moment in my head where I hear myself say, you know, as I’m saying it and it just kicks and I hope overtime as I continue to analyze and if other people start to print the filler words into
1 – 0:19:21
speak and then analyze, they have that moment as well too and it helps them correct overtime to the way that they want to be.
2 – 0:19:29
That’s my, you know. I guess my main thought on that. I’m not sure if you have anything to add, but in general people do look at filler words as. Challenging communication if you can. Just fill it with silence instead. Do that. Nothing wrong with having silence when you speak,
1 – 0:19:43
and it also comes back to what we’re trying to do is speak with custom categories, insights being actionable and valuable today. What can you? What can you?
2 – 0:19:51
How can you use this as a normal individual? Trying to improve yourself personally and professionally.
1 – 0:19:57
Implement something through speak and it actually helps you improve. And to me this was a wonderful illustration. A painful illustration of that, but I will take it and very happy that it could actually. Produce that little jolt for me. That’s helped me actually improve. I said, actually improve my communication this week.
5 – 0:20:15
Look something up here is to sort of continue in the same line of thought with self talk would be like is that OK?
1 – 0:20:23
I’m going to read a couple of excerpts from the The art of Impossible by Steven. OK, let’s do it. So in in this in this chapter.
5 – 0:20:33
Um? I’m just going to read it actually everyday whole chapter maybe. Just a paragraph. OK. Um, so in terms of. Just. If you want to control your thoughts, positive self talk is the place to start and.
There are only two kinds of thoughts. Those that constrict us, and those that expand us in negative thoughts constrict while positive expand. And there is a big difference in this. An along the lines of conflicting thoughts is this sucks and I can’t handle this. And why is my life so unfair?
And while on the positive on the opposite direction as I choose to be here, I have got this and I can definitely rise to this occasion. An for maintenance of the proper balance. What Cutler summarizes here from the research that had done, was that. The positive there is a positive ITI ratio and it’s. In fact, just three thoughts.
It takes up to three thoughts. Rather, it takes three thoughts to counter the effects of a single negative thought. So 321 is is the ratio Kottler found to be the tipping point beyond beyond which the full impact of positive emotions. Becomes unleashed and it’s a beautiful.
1 – 0:22:02
It’s very fast expressed. Thank you for sharing that. It I don’t know how to say after that actually. I obviously always look through things on it on a technical lens, which is what I’ve been trying to do, and we’ve been trying to do is build up sort of these libraries of what is negative self talk and what is positive self talk and how can we build those in as a category that then you can help you said there’s this breakdown. So if my math is right it would have to be 75% positive in 25% negative for you to sort of reset. If you did an analysis of a text note or an audio note or a video note. Is that true?
One cause, one negative thought. You need 3 positive thoughts to actually sort of balance that out right?
5 – 0:22:49
And these folks must be. Audible meaning that you have. You did express that and you’re not holding to any of either negative or either positive. The expression part is the most important part and that’s speak wise speakers that it’s about the inspection and actually looking back onto what you’d expect.
1 – 0:23:07
I just had one last thing to this from my perspective has been something very fascinating. Even listening to these podcasts around sales wonderful company gone. Who’s doing some wonderful analysis of language and sales, very spoken, but using some of the components and processes of speak and applying it directly to sales, an amazing company, and they have a podcast where they talk about how can you be a leading sales leader in an organization? How can you become the best salesperson and what I found so fat like just?
2 – 0:23:36
Almost I don’t know the exact breakdown, but a third of the actual podcast was directly on mindset directly on for you to be a successful high performing salesperson.
1 – 0:23:46
The work in your morning in the routine to set yourself up for it today. How if you get to know? Wanna call how you have to jump back and use positive self. Talk to remind yourself that you’re like I just was so surprised even from a very data driven company about, you know, I thought it would be all technical data. Here’s what you say. Here’s the words, but a lot of it is just like.
Can you be positive to yourself? Can you forgive yourself when you do something wrong? Can you love yourself and congratulate yourself when you do something right? And so I just think you’ve touched on something really beautiful there. Tim, about human performance and how we actually become the best versions of ourselves.
5 – 0:24:23
Thank you well, I would love to expand them that if they had enough material to, but it definitely is a whole another topic to rabbit hole into.
1 – 0:24:32
I feel like we’ll have some office hours again and we.
3 – 0:24:36
That’s all Lauren you saw.
2 – 0:24:37
Tim and I get off on the on the journey there.
1 – 0:24:39
What, anything any thoughts or do you want to anything that you want to talk about next couple topics that have dumped in Slack today that I want to make sure we get through in our time? Anything else that you want to add here? Or anything that you want to chat about right now? I think it’s an interesting hypothesis,
4 – 0:24:57
at least that you you have to say a certain amount of positive things to outweigh, like the negative things. I think. That’s not really set in stone. You may have to like test out a bit. Maybe it’s a matter of just saying one really nice thing and I can cut out like 10s of bad things you say about yourself.
I don’t know. I don’t know how you would set that set that study up. I’m sure someone has, but it’s curious.
1 – 0:25:25
I’m I’m interested.
3 – 0:25:28
To develop from. It’s the look map public talk,
2 – 0:25:33
right? We’re in public. Yes, this is being recorded. What are you saying?
5 – 0:25:38
Correct that were were would be looking forward actually developing it in mechanisms. Comparing yourself with the previous self but also to compare yourself. Kind of one note and will start off that such as just saying this, the pie chart you can imagine three parts of this so how much of that is my negative and positive talk? And therefore you can see the ratio but more than that there is much to come with. Well yes, so it’s just a sentiment analysis applied to this,
2 – 0:26:04
though we have so many more algorithms to Yep better,
1 – 0:26:07
no no that’s perfect then I I think even at that higher level, what was my? Negative versus positive self talk this month versus last month. Weather noticeable improvements were there decreases and then measuring you know what were those factors that that that actually contributed to it and learn just. I think that’s a beautiful point about how diverse we are is actually people and. Maybe maybe one person depending on their life and their experience and even themselves in that present moment.
They actually need sex positive. Thoughts or articulations of positive thoughts instead of three? I think there is so much variance in that, and I think your I love. I just love sceptical you know, sceptical Lauren come in like I don’t know how I. So I yeah I, I think it’s a wonderful thing in the comparison part that you’re just talking about there. Tim opens up so much possibilities looking through the lens of this, but just in general, across the entire speak platform, I think as a person who’s done a lot of marketing and analytics.
2 – 0:27:02
People are always looking for benchmarks. OK, great. You showed me all this data and all these reports, but compared to what and and less you can do that comparison.
1 – 0:27:11
There’s alot alot of times struggle and meaning that can actually be derived from it. It just sort of sits there. So we’re looking at again without is like a big data set right now and we have one year of data but we don’t have any data from the year before so we’re now missing out on an entire wonderful analysis or comparison that we could do that would surface these powerful insights. So now we have to work within the frame of just that data that we have. And when I look at client reports for website crap, you know growth or traffic they look at. I want to see the comparison between last year and then I want to see the comparison between the last month in the last three months and then X kind of thing. So just the power of comparison when you’re looking at data and analytics.
5 – 0:27:53
And really, it’s on both sides that we take in into consideration. Individuals as well as businesses in terms of that, we try to understand with all the data that we collect around you or your company or organization. We try to understand it and promote you to work well to achievement of your own goals.
1 – 0:28:10
And it’s it’s. It’s always been this transparent because we do not want to set anybody on particular Rd exactly. But we talked about it was just. Is. You know there’s so much data that’s actually possible, but in most cases people don’t necessarily want to sift. Not everyone loves data as much as we do, and they don’t want to sift through it all. They just want the actionable steps that they can take, or the really important stuff that actually makes a difference in their life.
2 – 0:28:38
Actually damn it. And so those are things that we’re always trying to think of is.
1 – 0:28:43
If there is a massive amount of data dumped into the system, how can you expose what matters? And we’ve done a lot of work on that, we still have a long ways to go, and as we’ve seen data you know it can be. It can be so different what we’re dealing with and the goals can be so different. So how can we actually do this as flexibly and accurately as possible? That’s all you’re quiet. Tell me what you think in French style.
6 – 0:29:06
Just listen. OK, I’m going to touch on to something that I know. There is some excitement about which is the pricing stuff, so again, we’ve been having some discussions privately about this as a company trying to figure out the best way to do this. That’s all was. Maxwell has been spearheading this effort for I would say six months. Before any real action has been taken on it and and showed us this wonderful and will share it as a resource here at price intelligently pricing document that they did incredible work to expose that an.
And it really hit me after exercise like that.
2 – 0:29:45
So yeah, pricing is important,
1 – 0:29:47
but we got some other things to think about and then they show me that document it God you know.
2 – 0:29:52
And so we have been taking a deep dive into that. I would say everyone but Tim I think has taken a deep dive in. But how far to get?
2 – 0:30:10
No, that look. I appreciate appreciate the part where we’re all in this team,
5 – 0:30:14
just were attempting to actually bring everybody up in the same knowledge in the same page of of business development as well as well as. Business just yeah, this is relationship development. Marketing with her were trying to sort of yeah trying to excuse myself here but. It definitely is a. I mean, the best ideas are always born in the cross pollination of them.
1 – 0:30:44
I was just digging into something else. I watched the pricing meeting back Lauren and it just a hilarious moment at the end where you just roasted him. Just like maybe next time we have a meeting everyone will have read the pricing document.
2 – 0:31:00
1 – 0:31:02
Lord and vassal. You guys have spearheaded a lot of this effort and I’ll just say the hilarious part was last week we had a pretty intense Sprint and we showed up for this pricing meeting that we’re also enthusiastic for. But we had that solid special events and Tim and I had just gone haywire all week working on development and there was just this lookin vassal. Intimin eyes eyes. I’m just like.
2 – 0:31:25
It’s just exhaustion, but Laura so excited about the pricing meeting that we all powered through and that was also an exciting moment to me as the team of like we saw the excitement there.
1 – 0:31:35
We knew it was important. We all rallied together and had an amazing meeting. No matter how tired we all were from the week. So appreciate that and it’s led to some changes. I think in mindset and then even some changes not physically but digitally on the site that will share in a couple of minutes too. But just any thoughts? I guess from the start Lauren or VAT.
So based on that document and what you’re thinking after this discussion. Lauren there’s still. I don’t know.
4 – 0:32:03
I feel like a brief document other 2 three times. There’s just so much information to go over there. So many important topics to get to it. We probably won’t be able to get to it in just a few meetings, really. But yes, I think it is important if you know what time. I’m sorry if I flamed you at all last time, but if you don’t want to read it, you don’t have to read it.
It’s fine. It’s we can.
5 – 0:32:29
So it’s a. Stuff to stuff to reach me out, yeah, but I do appreciate you sharing this and it’s a very valuable asset for the whole team. I.
1 – 0:32:43
No need to apologize to me when you get it. You did a lot of great work on development last week and we’re all trying to prioritize and make sure we’re spending our time in the right way so Lauren is worn as the money guy on the team. This is this is Lauren stuff, so Lauren I know what you mean. You’ve done a fantastic job on setting this up for here and even though we made we talked a lot about changes on how we can do this more and you put a ton of work in the first iteration of our pricing to make sure that we did a good job and always you will learn and you grow when you progress and you make changes and you. You figure out new ways to look at things or value things, but I just I do commend you, for there was a lot of analysis and a lot of breakdown of pricing and how we actually do this with a very complex system that we didn’t actually know what exactly was coming or how everything was going to work can take all the thanks for it’s not,
4 – 0:33:31
so was the one who did find that PDF two and if we had found that two years ago when we first started talking about pricing, it would have been. Would have been a game changer, but you know, hindsight is 2020 I guess.
6 – 0:33:45
It’s it’s a. It’s a lot into the into that resource and it’s like it’s. It’s also not that easy to digest. It’s like if you just go through once. It is not that easy to digest about. How do you run the business? Also in terms of the development you create the features or create the solution, but unless until you don’t monetize that, it’s like it’s pretty tough to you know.
I don’t know, survive into the business. So in my perspective, like when when I go through that first time, I make sure that it is worthwhile. To share with the team, because if I said it’s not worthwhile, that’s that’s sort of the waste of the everyones time and what is the beauty of the resources? The different case studies is like how do you plan from the day one about your pricing is like what it’s you know, elaborated on. What’s the design into the whole resource is like Lauren.
You might be angry with me. It’s like we followed the same strategy into the beginning about how do you price? And and one thing stuck to me, if you go up up little bit. Yeah one more page. Yes yes one down down, down on the under chapter one.
Every SaaS company is different, but almost every single one makes a mistake that puts the company in jeopardy. So it’s like you know they don’t understand that pricing, it’s stuff that is not the straightforward answer and and also that’s the my best taking, you know, taking line is like company who are blood, sweat and tears into making a great product. The spend countless hours. You know resources to bring in new customer, but their research says that few companies spend time in terms of few hours on their pricing. So that’s very interesting. But but at speak, we we spend into the beginning of that time, probably. If is that connecting to the June, September, October 20. 19 is that correct?
2 – 0:35:42
What is time?
3 – 0:35:46
We go through like what is our expenses like that’s a normal strategy.
6 – 0:35:51
Every company usually follow, but after going through this research it’s a very much. It’s a lot I opening, at least to me in terms of like how do you? How do you plan? How do you decide? How do you sell? And like?
1 – 0:36:04
Yeah yeah. So I think we’re outcomes with this.
5 – 0:36:06
So what are the decisions that we made according to this PDF? To this greatly, for make us to change.
1 – 0:36:12
So I think I think there was a couple of things that we talked about in that conversation. Which one of them is? Have a wonderful onboarding flow, but we were still missing out on a couple of things that would be very helpful for us to understand. Truly, who is who are abusers and who are our customers, so I think that was one shift that we are talking about and the other one which has been a very difficult conversation that we haven’t necessarily figured out. A resolved is what is our what is this value metric? And that’s a big part of that document, and again I’ll link this as a resource, but. Very successful companies wrap around what is.
What is the value. The most valuable? I don’t know. Yeah, the most valuable thing to measure, which is also aligned with the most valuable thing for users as well too. And that’s if you have like a couple of examples we saw was wistia with how many videos are uploaded and then we talked about that.
It’s just how many videos are uploaded for us. Is that moment minutes of audio and video transcribed? Is it keywords produced and insights that amount of text notes, so many possibilities and variations here, and I don’t think we’re quite resolved, but where? The fact that we’re thinking about this is guiding us in the right in the right direction.
6 – 0:37:21
Yes, correct. And the one biggest factor Timothy from that book is you have to set up the pricing in such a direction that you grow with your customer. If you stop growing with your customer, that’s then it’s something is off, so it’s like always you have to set a price which if customer want to grow you also grow. So yeah, that’s example with the you can take an example of the Zapier ristea any any any other successful companies. Which who always grow with their customer is like you reach as a factor of zebes what you’re going to do right. You want to upgrade a plan. You reach a minutes of sharing your videos.
What you’re going to do you include a plan.
1 – 0:38:00
So like, yeah, that’s a very interesting factor which mentioning to the book one thing that.
2 – 0:38:06
Is coming live for new customers battle which was after we had that conversation. It was that switch was at least we all agreed was getting as much media and text into the system was a valuable thing and yet we had annual plans that people would sign and they would pay for those annual plans. But we would only give them the allotted amount of hours per month. So every month we would reset their thing. But they had paid annually.
1 – 0:38:30
Why would we not just give them the entire allotted amount upfront so they could actually start uploading files and get a value immediately? We have one customer who keeps they wait for it to reset and it’s so silly we put this barrier and restrict or that was completely unnecessary on our own customers and actually jeopardize the actual value metric that we care about and they care about. And because of that conversation that just clicked and I messaged him like what are we doing and he was like you’re right and it’s like it’s like a simple
2 – 0:38:59
switch that we’ve made. It is going to create an immensely better user experience as a customer and I believe also show the value of speak and probably lead to
1 – 0:39:07
people wanting to. Upload more media and actually progress and upgrade and grow with the system.
4 – 0:39:15
Makes sense, I guess. For the if they do the whole forest plan for the whole year, what’s that 300 minutes per month? And then for the year?
1 – 0:39:25
That’s 3600 minutes. Close back for his plan is actually 600 minutes OK,
4 – 0:39:32
sorry so 7200. So 100 hours. Do we have people who need to upload 100 hours right away?
2 – 0:39:39
I think so. I think it’s been acting once for sure,
1 – 0:39:43
yeah? And it’s going to happen more going to come, you know, as we set this system up for more bulk media management and bulk analysis and comparison of multiple media file files in an overall analysis, that need is going to continue. And I think you’ve asked a very valid question and also this is the first time that we shared this with you.
2 – 0:40:00
But why at least why not limit?
1 – 0:40:02
If they do have a library that they want it done but just didn’t? It didn’t make any sense, and they’ve already put the investment into speak. We care. We were thankful that they even they signed up for speak and actually paid for an annual plan. Why? Why limit them like that so?
2 – 0:40:16
You know part of the speakers sometimes think and move very quickly, but that is something we won’t go too much into this, but is also the other part that we’ve seen as more and more people start using speakers.
1 – 0:40:26
The responsibility that we have to protect the user experience protect the changes that we’re making quality assurance on the development that we’re doing, and the changes were pushing. And I know that there’s a lot of work going on in that, even in a small team right now to make sure we’re doing that as best as possible. We don’t want to impact any of our users in a in a negative way, and it’s very important that we keep pushing out changes in. Successfully and making sure everyone is happy with the experience.
6 – 0:40:51
Yeah, it’s like so far that I don’t know in in my in my world sort of common sense. It’s like that’s so much. It’s just sort of user common sense, like why don’t we just straight to the users like I was like? Yeah it is like if they held a minutes in, you know beginning of their plan or not. But it’s like there is no point to restrict the user if they already subscribed for one year. So it’s like they can dump the minutes, find the insights, or maybe they want to sell as a library.
1 – 0:41:20
They can do everything what they want. I’m going to, and this was also tell me sort of ask that outcome. I have had you have heard you guys have all heard.
2 – 0:41:29
My rant was those people visiting our pricing page. But then there’s not people signing up. So what is happening? What have we done wrong? And then it was pretty obvious when you look at the pricing page. She was this mammoth of a beast of duplicated data and information.
This was there. This is our pricing page, it was massive. I don’t think people even got down to the bottom of this page. They bailed halfway through there like this is too much. I don’t understand. I don’t want to.
1 – 0:41:54
I don’t want to look at this and and and how many things have we actually show now? Switch to show the updated pricing.
2 – 0:42:00
But like how many when you’re just coming here? And I said this, the vascular one. Time to someone might tell you to go sign up for speaker.
1 – 0:42:07
Go learn more about speak and then all the sudden you come to the pricing page. Just overwhelmed with information. Why? Why are we doing that to to people to our users and in the past?
2 – 0:42:15
In a way I felt like. I felt like our pricing page was not assigned area of weakness,
1 – 0:42:21
but it was almost like the last place I wanted people to go ’cause it was just like we hadn’t figured it out. We haven’t figured out how to communicate the value. We all know we’ve built something valuable. The users tell us that the customers tell us that. So to not have a pricing page to be able to illustrate the value of that felt pretty hurtful sometimes and so it’s not perfect and thanks.
2 – 0:42:43
But thanks for the conversation. There has been a significant update and it fits. On one screen it my glowing tried to take this approach of not duplicating any data,
1 – 0:42:53
each plan containing all the features in the previous plan plus the highlighted offerings.
2 – 0:42:59
There’s more that we can do here, but this was a lot of.
1 – 0:43:03
Thinking and talking and working through that pricing document and then that final moment that sometimes happen when you are just like so frustrated about something, you just do it very quickly. You just sort of execute on it and have a nice little toggle to show annually versus monthly.
2 – 0:43:18
Seeing what this adds and then seeing OK this what’s actually included in the free plan?
1 – 0:43:23
And then what are the valuable pieces that get added on as you actually upgrade? Whether that’s at the higher plans, adding team members, getting more amounts, getting a discounted transcription and analysis, getting being able to export PDF reports instead of justice, SRT captions, and then even increasing levels of support from our team. So if there’s anything that you guys want to add to that just to equation for Dollar who are listening for the first time.
6 – 0:43:48
So if I understood correctly, the forest plan includes. All about all the features, so it’s like they can have the team management team collaborations and for second example, the sampling plan includes 3600 minutes,
1 – 0:44:02
but including all other features which mentioned into the seed and sprout. Is that correct? For it is very correct.
2 – 0:44:09
My only breakdown I’m having right now is so at 3600 for the annual plan and sapling and then you see forest. Is it clear that you don’t get the 3600 plus the 7200 or people adding?
1 – 0:44:21
That’s my only thought about that. Do they actually think? Can you guys are better at math than me?
2 – 0:44:27
Whatever that is, I don’t want them to think that they’re getting it.
1 – 0:44:31
I mean, it would be nice if we could, but the 3600 plus the 7200 you’re actually getting 7200 so that was I felt the only breakdown of logic that might actually be happening in the current pricing structure
2 – 0:44:42
that we have set up.
4 – 0:44:43
Maybe keep the man said that separate from the other features kind of just keep it on the pricing and then start off like the column saying everything and seed. Plus this, but try and keep the meds. You know ’cause that’s probably going to be like the volume metric then yeah,
2 – 0:44:59
that could be like zeroed in on exactly.
1 – 0:45:01
So yes, that’s that I one of the amazing parts about that price. Intelligently document that was made so clear was that pricing is a team thing, and generally in teams that there’s no one who actually owns it in a way. And so I went. So I’ve sort of journeyed forward ’cause I just couldn’t stand looking at the pricing page anymore, but this was just sort of the first iteration that I want to improve on with your guys feedback and hopefully customers feedback. As well, too, that’s already amazing. That’s already amazing and beautiful to set into the one screen.
6 – 0:45:34
But also having that understanding about which features are important. It’s not redundant too. It’s like, oh, this is not included. This is incredible. It’s like it’s very straightforward,
2 – 0:45:45
and we’ll see. We’ll see how this thing we had some sign up this week,
1 – 0:45:49
so we’ll see, you said something very interesting to me after was I wanted to see where the X is for you know what? You don’t get in the plan? Then you get in the next plan. An I’m still thinking about that a lot, but a couple of those examples, it’s like here. Let’s not highlight we’re not giving you. Let’s highlight what we’re giving you because we have.
2 – 0:46:09
We have provided so much. We’ve done so much work to build this and we we’ve given a lot, so I hope highlighting that was just something to like everything is green checkmarks there.
1 – 0:46:19
We didn’t do that very typical like axe. Here’s what you don’t get. It’s like here’s what we’re actually giving you, and we want you to succeed within this plan. So just just something else that that there so.
4 – 0:46:31
An important point that came up in that pricing document two is it was saying the different, so we have the four different subscriptions. You can go for an the idea that they’re trying to say is for each subscription is supposed to be targeting like a specific like customer profile. So like our customer profiles can change depending on the subscription they go to. Um? And we’re also talking about, you know, maybe we should be focusing more on like a company size of 50 to 200.
But that’s not entirely reflected. I don’t think. Maybe it’s depending on the Department that we’re actually targeting, but it seems like it’s more geared towards. You know, individuals in the first 2 and then like later on, it becomes more about like you know 10 to 50 and then 50 to 200.
1 – 0:47:24
So just something to think about like we’re looking at each individual subscription is like who is that for exactly? Yes, and I agree, the names are a little extract.
1 – 0:47:38
I’m thinking about that a lot too, and even you know in some plans you see for for teams of this size or organisations of this size, like we’ve done some of that through the actual members. Like you know, five team members who would be using this. So in a team that obviously not everyone is dedicated to media functionality that might make sense for an organization since 25 to 50 people, or I think there’s still some more clarity that we need on that. I still love the names with the themes of forest and. You know, see the forest.
But I agree there there could be some more clarity I think, especially if you’re coming off the first time.
2 – 0:48:13
Like oh, this is cute,
1 – 0:48:15
but I don’t know if this is for me or not, so I don’t know if you have anymore thoughts that sold Tim Lauren on pricing. I know we’re at the end of our time. Here is one other question I want to ask you guys at the end of this. It’s a short. Should be a short answer, but that’s not anything out.
Some pricing here. No, that’s pretty good.
6 – 0:48:32
We still have it. We still need some brain storming in terms of the GNU always features and solution we had. It’s like. We just have to manage in such a way that we can just change the. We can change the features which category goes into the beach. Plan when we cannot change the plan price every six months or three months, so having that consideration about so yeah, that’s that’s required a little bit more brainstorming about which features which new features we are adding, or which new solutions we are adding in which category,
1 – 0:49:02
and how does that going to stand. And this one thing that’s not in the pricing plan, which is one of our favorite features, is the embeddable recorder. So there’s something still missing here, and there’s still definitely some work to do.
2 – 0:49:15
My question for us, for all of you before we leave,
1 – 0:49:18
this is more of a manifestation thing, but it was if you have one and only give you one. But if we could have one, if you could have one guest on our office hours and we got to interview them, get to ask them questions and they come and spend an hour here. Who would that guest be? Don’t ask. The old quick that’s all OK.
Likes Freeman. Oh wow, that’s another good answer. Timothy’s might not have any answer for us. He’s got these. You’re a mute if you’re going to say.
5 – 0:49:51
I would. I would love to bring a. Her name is. Any Jean Baptiste she is a head of inclusion team at Google. Yeah too buzzword name but nothing wrong. Annie is really smart. She’s she’s really smart.
She wrote this wonderful book about just user experience and thinking about customers in that in such a deep matter. Total fan of her and I would love to bring her on. I’ve never heard of her,
4 – 0:50:28
so I’d love to look into her somewhere.
2 – 0:50:31
Second surgery Sahil Sahil sometime to meet him for sure. About you. Ask the question that I don’t know. I would love to. I guess this is maybe a silly answer,
1 – 0:50:47
but I would love Larry Larry Page or Sergey Brin and we were, you know, we were talking a little bit earlier about some of the systems that we built and how it interacts with search engines. And I know there’s still a lot of skepticism around Google and what they’ve done, but the information? The death help people with throughout time still blows my mind every single day. I think about it that I could just type in something and get the, you know, the most relevant valuable answer you could ever imagine. So those two people, but and that their burners, as in they go to Burning Man, which plus one on that.
So I I know there’s some very interesting stories from there.
2 – 0:51:28
I’m sure they’ll be some more people that we can think of,
1 – 0:51:31
but just that idea of how many things as a team we’ve collectively manifested by just putting it out there and saying that, and maybe maybe won’t come on the office hours. But I think it’s really nice to just think about that and and and what we could actually learn. Learn from these people. Anything else before we wrap this one up.
1 – 0:51:51
That is pretty awesome. Looking forward to the next one.
6 – 0:51:55
We talked quite a bit about the VIS visualization. Part of each. We added quite a bit on the mindset and the pricing part.
1 – 0:52:03
So yeah, these are the good talk we had today. I always enjoy this. Look forward to this every week so thank you again for the time. Today I will see you probably after this call. I’ll talk to you again soon. Will take this into private speedboat now.
But thank you again for joining and everyone who tuned in who watched us were really appreciative of and we’re just going to keep building for you. Keep innovating and very excited for what’s to come.
5 – 0:52:27
Thank you. Thank you.
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