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How I Built an Audience of 50 Million Members by Solving a Problem with Otis Chandler - Hustle Con 2016

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Goodreads is the largest website on earth for all things books. With over 45 million registered readers who review millions of books, Goodreads grew at an astonishing clip thanks to viral loops. At Hustle Con, Chandler will talk about the process he uses to boost his company’s extreme growth.

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How I Built an Audience of 50 Million Members by Solving a Problem with Otis Chandler - Hustle Con 2016

  1. 1. How I Built an Audience of 50 Million Members by Solving a Problem Otis Chandler CO-FOUNDER + CEO, GOODREADS
  2. 2. @otown #hustlecon Goodreads today 50 million members Top 60 U.S. website 400 million monthly PVs 70% female audience
  3. 3. #hustlecon My #1 secret of success Solve a problem that people have @otown
  4. 4. #hustlecon Goodreads mission To help readers find and share books they love @otown
  5. 5. #hustlecon The most successful companies are mission driven Gives you a lens for where to focus and where not to focus. @otown
  6. 6. #hustlecon “We like mission-driven people” @otown First thing Jeff Bezos said to me
  7. 7. Some of the Amazon Family of companies #hustlecon #hustlecon@otown
  8. 8. #hustlecon Solving a problem is also Jeff Bezos’ top leadership secret, aka. customer obsession “If you’re customer-focused, you’re always waking up wondering, how can we make that customer say, wow? We want to impress our customers– we want them to say, wow.” @otown
  9. 9. #hustlecon@otown The story of Goodreads
  10. 10. #hustlecon@otown
  11. 11. Turns out… lots of people had this problem! #hustlecon@otown
  12. 12. #hustlecon 90% of content is produced by 10% of members @otown Nail product/market fit for your power users– they’ll spread the word
  13. 13. #hustlecon I have a theory about product development When there is a problem a LOT of people have, you will have SMALL numbers of people going out of their way to solve it using manual or hacked-together tools. @otown
  14. 14. #hustlecon@otown A manual solution to buying & selling goods & services in a community
  15. 15. #hustlecon Problem: keep track of all the books I’ve read @otown
  16. 16. #hustlecon To-read lists! @otown
  17. 17. #hustlecon@otown Give people a better tool and many more people will use it
  18. 18. #hustlecon If you see something working, double down on it @otown
  19. 19. #hustlecon If you solve a problem, Google will reward you @otown For a long tail content site, noindex & nofollow are your friend
  20. 20. #hustlecon@otown Give people tools to let them share & spread the word
  21. 21. #hustlecon Address book importers @otown
  22. 22. #hustlecon Viral loops @otown Variables: invites per user, conversion rate, time to acquisition INVITE à ACQUIRE à INVITE
  23. 23. #hustlecon Facebook open graph @otown
  24. 24. #hustlecon Viral acquisition loops @otown Need a dedicated growth team SHARE à ACQUIRE à SHARE
  25. 25. #hustlecon@otown We kept solving problems & growing – gave us a strong BATNA
  26. 26. #hustlecon@otown
  27. 27. #hustlecon Focusing on a problem led us to Amazon Being able to easily share what you are reading. @otown
  28. 28. #hustlecon@otown Kindle launched in 2007 and took reading digital 40% of books are bought online today* *From a Neilson Books & Consumers survey, March 2015
  29. 29. #hustlecon Two secrets of acquisitions @otown 1.  People, strategy, price 2.  Companies are bought, not sold
  30. 30. #hustlecon We are the social network of Kindle @otown
  31. 31. #hustlecon My tenets for building a company @otown 1.  Solve a problem! Work backwards from solving a problem that people have. 2.  Look for how people are solving it manually and see how you can improve that with technology. 3.  Be mission driven. Keeps you focused, attracts the right people.
  32. 32. Goodreads.com Otis Chandler CO-FOUNDER + CEO #hustlecon@amandabradford

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