markitechture: The Best Freemium Data Visualization Ever
markitecht:
Cohort Conversion Rate Over Time
I want this graph in an analytics product so badly it makes me dizzy.
Look closely until you are sure you understand the power of this visualization.
This is not the Evernote conversion rate to premium over the years they have been in business. This is the cumulative conversion rate for a group of users, as they live with the product for several years.
Read the full post at markitechture.tumblr.com
(Source: markitecht)
But I’ve seen too many people confuse detailed data with truth. You don’t know if a market opportunity exists until a real customer thinks enough of your idea to part with their scarce money or time to get it. And you don’t really know until that customer finds your idea valuable enough that they keep using it, recommend it to their friends, and purchase it again.
Media has already swiftly shifted from a world of content created by elite to one of mass participation. This is rapidly going further to where even traditional journalism and news is becoming crowdsourced, from on-the-spot reporting through filtering, preliminary writing, fact-checking, headline selection and layout, usually overseen by professionals
In 1997, we said that 50% of the business would be from streaming by 2002. It was zero. In 2002, we said that 50% of the business would be from streaming by 2007. It was zero….Now streaming has exploded….We were waiting for all these years. Then, we were in the right place at the right time.
—From Ken Doctor’s excellent article “Reed Hasting’ Six Lessons for the Newspaper Industry”.
Netflix is a company I really admire particularly since they’ve had, and overcome, so many challenges over the last 10+ years. Sounds like Sarah Lacy’s interview with Reed Hastings was very enlightening (and worth checking out). And Ken Doctor’s synthesis into lessons for the newspaper industry is spot on, particularly his summary:
As the tablet age, in particular, dawns, it’s not about re-purporsing bunches of news; it’s about delivering that news in ways that delight and satisfy audiences.
There will always be a place for mass marketing, but in the next three- to five-years, a website that isn’t tailored to a specific user’s interest will be an anachronism
—Facebook COO Sheryl Sandberg, speaking to Arianna Huffington at an Advertising Week event earlier this week (Full report at PaidContent).
I totally agree with Sandberg’s premise. I also think her timing is probably about right. While the technology to deliver a site that is tailored to a user’s interests already exists (whether through Facebook’s Instant Personalization or DailyMe’s Newstogram solution), publishers seem to be taking a ‘slowly, slowly’ approach to letting personalization power a significant part of their sites.
If your first employee doesn’t love what you do, doesn’t wake up each morning dying to work on HIS product, you have likely chosen poorly, and that’s exactly what we did.
—From Paul Biggar’s detailed and brutally honest account of why NewsTilt failed.
Paul lists 15 lessons from his NewsTilt experience: from making sure you’re passionate about your idea to making sure you can really work with your co-founders.
The “Hire well” lesson (from which the quote above is taken) really resonates with me.
Working at a startup is stressful (given the uncertainty and pressure), so it is essential that early employees are passionate about the company’s vision …and its equally important that Founders communicate that vision and any changes/pivots quickly and clearly with their team.
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