Insights
Monday.com Grew Traffic 19% to 75.6 Million Visits in Q4
Of the popular cloud applications for workplace productivity, Monday.com is holding up better than most as economic pressures lead companies to reexamine their application portfolios and look for ways to cut costs.
Monday.com is scheduled to report fourth quarter and fiscal year 2022 earnings on Monday, February 13. An analysis by Similarweb Investor Intelligence finds that Monday.com continues to show strength, even in the face of stiff competition and tough prior-year comparisons.
Key takeaways
- Monday.com traffic grew by 19% year-over-year in Q4, while some competitors were shrinking. For example, traffic to trello.com was down 8.4%, traffic to asana.com was down 6.1%, and traffic to slack.com was down 3.4% over the same period.
- For the trailing 12 months that ended in January, traffic to Monday.com was up 27%, year over year, to 316 million.
Monday.com shows growth in key metrics
“Monday’s position as a relatively economical, multi-use solution may be a boon in a pressured spending environment as businesses re-evaluate their SaaS stack in search of cost cuts,” Similarweb analysts wrote in a Q4 research summary.
Monday.com Self-Service Trial Activations
“Collaboration software was among the first subsectors to face the impact of seat and vendor consolidation, which began in earnest in 3Q21,” the researchers wrote. As a result, Monday.com and its peers now face tougher comparisons with prior year periods.
Despite that, Monday.com is one of a handful of these collaboration platforms that continues to show strong user growth.
Monday.com is one of a handful of digital collaboration services growing traffic while many competitors have stalled
Digital collaboration is a complex and crowded market, so deciding which other companies Monday.com should be compared with is a challenge all by itself. But Monday.com is seeing stronger traffic growth than, for example, either Slack (now part of Salesforce) or Trello (owned by Atlassian), or Asana.
Notion is showing stronger growth, but that’s partly a factor of its status as a personal productivity app as well as a collaboration tool.
Read more: Notion Tops the Ranks of Collaboration and Productivity Tools
Room to grow
Ranked by total traffic, Monday.com lags some established work management competitors like Slack, Trello, and Asana, as well as the upstart personal productivity and collaboration app Notion, but is more popular than Miro, Airtable, and Smartsheet.
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