Re:Half a Decade After Demo Day
by billclerico on Tuesday August 19, 2014 @04:15PM
(#8199527)
We weren't able to navigate it, unfortunately. So we took what we had built (a payments platform & risk engine) and applied it to a new usecase.
It feels like frequency of use is a key indicator of product success. The most successful products get used very regularly.
Re:Half a Decade After Demo Day
by nostrademons on Tuesday August 19, 2014 @05:40PM
(#8199975)
Google uses this as a key litmus test for which businesses it wants to enter - the media's reported on Larry's "toothbrush test", where he's only interested in products that get used at least twice a day.
This is also behind the increasing focus on traffic & turn-by-turn navigation in Google Maps, and the acquisition of Waze. Google Maps as web-based satellite mapping software gets used only once or twice per year, when you go on a trip to an unfamiliar location. Google Maps as a local business directory gets used once or twice per week, when you're looking for restaurants or coffee shops to meet at. Google Maps as a traffic-avoidance system gets used once or twice per day, to figure out the best route around jams.
our users didn’t send money all that often (a few times a year, on average).
Can you say how you guys were able to navigate this problem successfully? We think we found our solution by expanding what we offer, but this problem made segmenting by service use (arguably the best way to monetize) incredibly hard.