[WMD 2015] Greylock Partners >> Josh Elman, "Launching A Rocket Off Someone Else’s Back: How To Build On Other Platforms"

Launching a Rocket off Someone Else’s Back: How to build on other platforms

Josh Elman @joshelman

May 1, 2015

Just Yesterday…

This has gone on for a while

Should you even touch a platform?

YES

Short answer:

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.

Everybody starts at zero

With a goal of becoming huge

It always starts with hustle

But hustle isn’t always enough…

Go where the users are

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

Partnerships are always nice…

But partnerships are really really hard

Should you even touch a platform?

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…

LinkedIn Circa 2005Usage: 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

YelpUsage: Find local businesses/services. And review them.

Cycle: Searchers: 2-3x/weekTrack: #users who search per day Reviewers: 1x/week(?)Track: #reviews / day

FacebookUsage: Stay connected with friends

Cycle: 2-3x/dayTrack: #users who log in and view News Feed

ExpediaUsage: Plan a great trip

Cycle: 3-5x/yearTrack: #users who search per day

ARE PEOPLE REALLY REALLY USING YOUR PRODUCT?

So they may be using it once, but…

Really really using? (aka “Core Users”)

1) Top of Mind: Do they come directly to your product vs referred by a link or special offerTrack: % users with direct traffic / engagement

2) Recurring: Do they come back again and againTrack: % users who return weekly/monthly

3) Referring: Do they share it with others? Track: k-factor, and % users who are referrers

Launching a Rocket off Someone Else’s Back: How to build on other platforms

Josh Elman @joshelman

May 1, 2015