CONTXTO – July 15 – Weeks ago, César Hoshi and his partner and CEO Pedro Neira decided to close down Mi Media Manzana (MMM). At one time, it was the largest online dating Android app made in Latin America. He is now sharing some of his personal lessons….
If you’re going to pivot, pivot your product and features, not your purpose.
We built MMM as a serious dating site. Since we lacked results, we made many decisions for changing the product. Without even noticing it, our new versions didn’t respond anymore to the purpose. We weren’t focusing on long-term relationships anymore. I’m not saying you should not change your purpose, but if you firmly believe in it (which we did), your product should always be consistent with it (which we didn’t).
In moments of crisis, don’t forget the right questions
Moments of crisis are the best moments to ask the right questions (how to add value to your users). Conversely, they are some the worst moments to ask the wrong questions (only focus on the shareholders pressure and cold metrics).
In a marketplace, you should worry about liquidity and density, not overall growth
We spent $25K on the online marketing budget for user acquisition per country, which were four in total. By the time we noticed, we had already spent $100K, and not a single country was self-sustainable. Our approach was totally wrong. We were focusing on „countries“ when we should have been focusing on „cities.“ In the online dating industry, this is crucial since people want to go out with someone close by.
Apply known frameworks but don’t try to do it alone.
„Hooked – How To Build Habit-Forming Products“ is one of my favorite product books out there. I read in 2016 and was amazed by the powerful insights regarding the „Trigger, Action, Variable Reward, Investment“ framework. Inspired, I tried to include some of it to our development process, but not hard enough.
Discover early on what are the inputs for your „one metric that matters“
User retention was our most important metric. We obsessed over retention but it took way too long to realize that we couldn’t control that metric. Due to the nature of our dating app business, retention was an output rather than an input that we could control. The mistake with that single focus, though, is that you try to control things you can’t.
Have uncomfortable discussions early on, especially when defining the problem you are trying to solve
Nothing is more certain to cause a project to fail than a misunderstanding of the problem you are solving. You should never start building something unless all of your key players have the same understanding of the problem.
by César Hoshi
See full article at Contxto
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MEDIANAMA – July 12 – The French Senate has approved a digital tax, known as „Les GAFA“ – Google, Amazon, Facebook, Apple, on digital companies that have a revenue of more than €25M in France, and more than €750M worldwide. This bill is likely to be signed into law by French President Emmanuel Macron within two weeks. The tax is expected to yield €400M in 2019, and €650M in 2020. It will affect ~30 companies, including GAFA, Meetic, Criteo, Instagram, and Airbnb. Other EU countries, including Austria, the UK, Spain, Poland, the Czech Republic, and Italy have also announced plans for their own digital taxes.
by Aditi Agrawal
See full article at Medianama
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TECH2 – July 11 – WhatsApp in India prohibits promotional content, restricts mass distribution of brand messages. Big brands like Zomato, McDonald’s, Reebok, Tinder, among others are reportedly using branded GIFs and stickers to push ads on WhatsApp.
See full article at First Post
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WASHINGTON EXAMINER – July 15 – Generation Z is a group comprised of individuals born between 1995 and 2015. They grew up in an age when boredom could be solved instantaneously by unlocking their smartphones. Instead of going on dates, Gen Zers swipe through Tinder, exchange Snapchats, and send direct messages on Instagram. In fact, the average American adult swipes through dating apps for ~77 minutes each day. Instead of building longer-term connections with romantic partners, Gen Zers build hundreds of surface-level connections with their followers, creating relationships that are empirically less fulfilling than the more serious relationships undertaken by older generations. They have become increasingly stressed and isolated.
by Elizabeth Nealon
See full article at Washington Examiner
TECH2 – July 13 – As per app researcher, Jane Manchun Wong, who often takes to Twitter to reveal her findings, Facebook Dating is now planning to introduce fresh onboarding screens to lure more people. Facebook advertises the fact that users activity remains „private“. While that might be assuring, we all know by now that anything that happens on Facebook isn’t really „private“.
See full article at First Post
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