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Biggest Points I wasn’t able to cover in today’s EthDenver Talk re: Mythical dApp User
Old Recording Here:
Deck Here: https://docs.google.com/presentation/d/1E1c8m9qkk3DbCrcFfotkse7gAOwTvck_q46J1_Vhd5Q/edit?usp=sharing
Old Recording Here:
Deck Here: https://docs.google.com/presentation/d/1E1c8m9qkk3DbCrcFfotkse7gAOwTvck_q46J1_Vhd5Q/edit?usp=sharing
Probably because there just aren’t many of them. Especially compared to Web2. dApp User Growth has…kinda, maybe declined out since October.
I was shocked to see a 150k decline from MAU’s for the top dApp + runner-ups on dAppRader (in the Ethereum category).
I was shocked to see a 150k decline from MAU’s for the top dApp + runner-ups on dAppRader (in the Ethereum category).
Makes me wonder about some of the growth @ercwl and other’s have called out re: Pancake Swap et al. Are gas fees styming Ethereum growth during a bull market? Huge unanswered question and should be of concern. https://twitter.com/ercwl/status/1358661480669929474
(Also, def check out the L2 solution @yalormewn and @owocki launched last week) https://twitter.com/owocki/status/1349734616186327049
Tweetdeck & Twitter Fishing
I’m a huge fan of Tweetdeck for studying the language and sentiment around the market you want to enter.
Create columns and lists to better understand the ongoing conversations and filter out the noise (ie. shameless shilling).
I’m a huge fan of Tweetdeck for studying the language and sentiment around the market you want to enter.
Create columns and lists to better understand the ongoing conversations and filter out the noise (ie. shameless shilling).
And as I said in the talk, a customer’s POV and perspective is 10x more important than their money right now. They spend $50 on your product, that’s a single sale, and if you haven’t anticipated every edge case & dead end you’re likely to lose them as a repeat customer.
Another way to say it; Early on I would rather pay you to tell me what keeps you up at night then you pay me a couple of DAI when testing my product out. Asking them questions early on is the single highest impact activity to making your dApp ready for the limelight.
FINALLY, the most important thing I wasn't able to cover...
Skin-in-the-Game Signal Matters
The most common responses after a 20 second pitch is “…interesting!” “This is a good idea” or “this is interesting” isn’t good signal.
Hearing “this is interesting” is useless.
Skin-in-the-Game Signal MattersThe most common responses after a 20 second pitch is “…interesting!” “This is a good idea” or “this is interesting” isn’t good signal.
Hearing “this is interesting” is useless.
Simulate the kind of commitment you would need customers to make in order for your product to be viable and see if they bite.
If they don’t, ask (in a super friendly, not at all confrontationally way) why not? They’re doing you a favor, being honest with you. Act like it.
If they don’t, ask (in a super friendly, not at all confrontationally way) why not? They’re doing you a favor, being honest with you. Act like it.
I'll add to this thread as I think about it, but shooting from the hip, these are the most important things to consider when thinking about #CustomerResearch + #BizDev in the Web3/Crypto space.
