After the slide presentation I posted about “The Secret Psychology of Snapchat” received such a warm response from readers, I decided to create another set of slides. This presentation is about how to win over your competition’s customer habits. I hope you enjoy it.
For a deeper analysis, see this previous article I wrote on the topic: http://www.nirandfar.com/2015/01/competitions-customers.html
(estimated reading time: 17 secs)
You’ve undoubtably heard of Snapchat, the habit-forming messaging service used by over 100 million people monthly. This week, I teamed up with Victoria Young and Dori Adar to help explain what makes the app so sticky.
We decided that instead of writing a long blog post, we’d share our insights in a slide presentation. Let us know what you think of the format and the content in the comments section below!
(estimated reading time: 18 secs)
Fitness apps are all the rage. An explosion of new companies and products want to track your steps and count your calories with the aim of melting that excess blubber. There’s just one problem — most of these apps don’t work. In fact, there is good reason to believe they make us fatter.
(estimated reading time: 6:17 mins)
Let’s say you’ve built the next big thing. You’re ready to take on the world and make billions. Your product is amazing and you’re convinced you’ve bested the competition. As a point of fact, you know you offer the very best solution in your market. But here’s the rub. If your competition has established stronger customer habits than you have, you’re in trouble.
(estimated reading time: 4:42 mins)
Slack isn’t just another office collaboration app. The company has been called, “the fastest-growing workplace software ever.” Recent press reports claim that “users send more than 25 million messages each week,” and that the company is, “adding $1 million to its annual billing projections every six weeks.”
Smelling an opportunity, investors just plowed $120 million into the company, giving it a $1.12 billion valuation.
“Our subscription revenue is growing about 8 percent monthly, before we add new sales,” says Slack’s business analytics lead Josh Pritchard. “This is, as far as I know, unheard for an enterprise SaaS company less than seven months after launch.”
Perhaps even more surprising, Slack’s user retention stands at an astonishing 93 percent.
How does Slack get its users hooked?
(estimated reading time: 4:14 mins)