[WMD 2015] Greylock Partners >> Josh Elman, "Launching A Rocket Off Someone Else’s Back: How To Build On Other Platforms"
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This document discusses strategies for building a product on top of existing large platforms. It advises that companies should launch where existing users are in order to grow, and examines metrics like usage, cycle, and retention that can help determine if a platform's users are truly using and engaging with a new product. Key actions include tracking how often users perform the product's core functions, whether they visit frequently or are one-time users, and if they refer the product to others.
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[WMD 2015] Greylock Partners >> Josh Elman, "Launching A Rocket Off Someone Else’s Back: How To Build On Other Platforms"
- 1. Launching a Rocket off Someone Else’s Back: How to build on other platforms Josh Elman @joshelman May 1, 2015
- 3. This has gone on for a while
- 4. Should you even touch a platform?
- 6. Longer answer: 1) Companies start with zero users. They need to get in front of users to grow. 2) Big platforms have a lot of users. There are lots ways to get in front of those users.
- 7. Everybody starts at zero
- 8. With a goal of becoming huge
- 9. It always starts with hustle
- 10. But hustle isn’t always enough… Go where the users are
- 11. We live in an age of HUGE platforms Description signed up yesterday active users used the service in last month inactive users last used service 1 month ago resurrected users first use in over 1 month
- 12. Partnerships are always nice…
- 13. But partnerships are really really hard
- 14. Should you even touch a platform?
- 15. Ok, but how can I tell? 1) Usage: Do they use your product how you expect? Track: #users taking core actions each day 2) Cycle: Do they use it at the frequency you expect? Track: #users who visit at least N days in a week or month 3) Retention: Are they sticky? Will come back to this…
- 16. LinkedIn Circa 2005 Usage: Find and be found Cycle: Find: 2-3x/week Track: #users who log in and search per day Be found: 1-2x/year(?) Track: response rate to InMail
- 17. Yelp Usage: Find local businesses/ services. And review them. Cycle: Searchers: 2-3x/week Track: #users who search per day Reviewers: 1x/week(?) Track: #reviews / day
- 18. Facebook Usage: Stay connected with friends Cycle: 2-3x/day Track: #users who log in and view News Feed
- 19. Expedia Usage: Plan a great trip Cycle: 3-5x/year Track: #users who search per day
- 20. ARE PEOPLE REALLY REALLY USING YOUR PRODUCT? So they may be using it once, but…
- 21. Really really using? (aka “Core Users”) 1) Top of Mind: Do they come directly to your product vs referred by a link or special offer Track: % users with direct traffic / engagement 2) Recurring: Do they come back again and again Track: % users who return weekly/monthly 3) Referring: Do they share it with others? Track: k-factor, and % users who are referrers
- 22. Launching a Rocket off Someone Else’s Back: How to build on other platforms Josh Elman @joshelman May 1, 2015