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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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MJC
@mjc716
two qs how do you model the fact that most of your target audience is on a singular alternative platform? (i.e. you know who they are and where to find them again) considering that crypto social is a lot more financialized, do you think web2 user acq frameworks apply cleanly?
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Dan Romero
@dwr.eth
1. Makes it harder, especially if your UX is mostly a derivative of said platform. The more we diverge from X / Twitter, the better for Farcaster. That said, the differentiation needs to yield sufficiently interesting content / experiences. 2. Retention is retention whether web2 or web3. You can only create durable value if users stick around.
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