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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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Garrett
@garrett
What was the last retentive social product?
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Dan Romero
@dwr.eth
TikTok
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Garrett
@garrett
TikTok had a new and novel form favor (short form supercut video) that made it unique. Similar to Snapchat (stories/ephemeral messaging) and other notable social media platforms that retained users. Do you think Farcaster needs a new and novel form factor to onboard and retain users?
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Dan Romero
@dwr.eth
> Do you think Farcaster needs a new and novel form factor to onboard and retain users? We'd love one. TikTok also had a multi-billion dollar user acquisition budget (most users acquired via Facebook Ads) and advanced machine learning from their parent Bytedance for multiple years.
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