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Dan Romero
@dwr.eth
Consumer social products and marketing 1. Marketing creates 1) awareness and, hopefully, 2) demand to sign up 2. For nearly all consumer apps, ~50% of new sign ups never come back to the app after the first day! This declines over the next 30 days to get to a measure of day 30 (d30) retention. 3. Ideally, this decline curve “flattens” (i.e. asymptotic) or even “smiles”. This means you have a retentive product and you can measure $X spent turns into Y downloads and into Z sign ups and into A retained users. 4. However, if your product does not have a retentive curve, then all spending will do is make metrics go up for a bit and then air will slowly come out of the balloon. 5. Retentive social products work because their core value proposition and product / functionality / features creates long-term retention. Exceptional products do that and have a viral growth component (k-factor). 6. So before spending time and money marketing, be sure you have a product that benefits from the marketing.
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Icetoad 🎩 🍕 🎶 🐈 💚
@icetoad.eth
You're 4+ years in and you don't think you have a product that warrants people staying?
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Dan Romero
@dwr.eth
No! If we had one that consistently created retention I would be spending my time differently. We've had brief periods where it seemed like it was working but they have never stuck. Thus, back to the grind.
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Icetoad 🎩 🍕 🎶 🐈 💚
@icetoad.eth
Fair enough. Keep upping the weekly reward money and you'll get there.
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andrew🎩👾
@andsor.eth
10x funding to the existing and new builders, make them rich, they will bring retention up. most socials had to do it eventually to continue to grow. product improvements are never ending, you do it not to die, not necessarily to grow.
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