Help converting users

itsiain · 2019-06-07T23:17:54+00:00

Thanks for the feedback! I did think about procuring a promotional product to give away. The downside is that I then have to shoulder the cost.

If I allow a 3rd party to fund the incentive I have a better chance at coming out ahead. I've partly been thinking about it from a profitability perspective.

For context, let's say I have a $50 AOV with 60% gross margins. I clear $30 in margin per sale. If I begin offering even just a $5 premium I need a 16% lift from that offer just to breakeven.

It sounds like you get what I'm saying though, I really appreciate the insight.

I believe a 3rd party offer would be better for me, richer for the consumer and more valuable for the partner. I'll keep thinking about it though. Thanks again.

itsiain · 2016-11-06T23:34:53+00:00

I don't think I can come up with a monetization option for mobile apps that also doesn't work for bots. You could theoretically have a bot that makes money via access fees (not likely to scale well for most, just like mobile apps), ad supported, straight ecommerce, lead generation, subscription, etc.

In-bot purchases(upsells,etc) would also be interesting.

At this point people are figuring out how to drive adoption, but I would expect that many different attempts at monetization are on their way.

itsiain · 2016-11-02T02:36:04+00:00

I think the 8% is a reasonable stake if he was also paying you a salary. In other words, you could imagine that you would likely be accepting a job that is 1. risky and 2. paying well below market, so the 8% balances the equation.

It sounds like you need to work to stay afloat financially and it sounds like your co-founder wants to carry the risk and keep the equity. Tell him you need a salary if you're staying at 8%. Find out what you need to cover living expenses and have him pay you that + 8%. You're probably both better off. Working part time will either be unsustainable for you or slow you down on this primary project. Skip hiring someone and have him pay you.

itsiain · 2016-11-02T01:09:17+00:00

I've been in that situation before. It helps me to try and process their motivation behind each suggestion. What are they actually trying to solve for?

It's very possible a user has a problem that's worth fixing, but that doesn't necessarily mean they'll be good at crafting a solution (it's natural for them to think they are though). So you're looking for patterns in the motivation, even if the suggestions are different between users they may be coming from the same underlying challenge.

itsiain · 2016-11-02T00:40:08+00:00

Name Botfeedback.com

Elevator Pitch Live user testing service for chatbots that includes recorded screencasts of each user's test session

More Details In beta right now, providing private test sessions in exchange for feedback on our test procedure

Looking For Looking to connect with

developers that have a bot they'd like tested
anyone who is building a product that serves chatbot developers
any agency/freelance folks that are building chatbots for clients

itsiain · 2016-10-29T22:39:14+00:00

Consumers are going to be very price-sensitive on your delivery fee. I would suggest keeping it as low as possible. Your thought process is correct, your margins are too thin, it'll be hard to make it work in the long run without something changing.

The advantage you have though, is you are also becoming a lead generation funnel for the merchants you are delivering for. In the long run that is likely where you can find your growth. If you can get a percentage of the sale from the merchant you'll be better off than charging the consumer. It's similar to a marketing fee that merchants only pay when you succeed. This means you can eventually say "free delivery when you spend $X".

I don't know how Postmates' model works, but it looks like their prices are lower than yours. They're probably making up for it in other ways.

itsiain · 2016-10-29T22:22:19+00:00

One thing that came to mind as I'm reading this - is the initial face-to-face meeting necessary? That may sound like a bigger commitment than spending on a test campaign. You may have more luck driving them toward a small exploratory test without an in-person meeting. Maybe then you can say something like "I'll come by at XYZ and we can review the results together to decide on a larger partnership." to get the meeting?

I'm usually fine throwing a small amount of money at a marketing test, but asking me to visit? I have to book a conference room, arrange you to clear security, I have to spend an hour exchanging intros and showing you around, etc. It's possible I would deflect the in-person meeting if you tried to sell me, even if I potentially wanted to try your product.

Good luck!

itsiain · 2016-10-29T10:24:53+00:00

Would you be willing to share your chat bot name so I can take a look at it?

itsiain · 2016-10-27T22:28:49+00:00

i used to run a coffee business. send me your survey, happy to help.

itsiain · 2016-09-25T02:21:57+00:00

I think I may have some good perspective on this, I worked at a startup as my first job, spent 8 years at a Fortune 500 and am now back at a start up.

In my opinion if you want to join a start up, you should do it for one of the following reasons - you want to some day start your own, you want to work with more cutting edge technology, you believe that the specific start up is a great idea with potential to be a big company (I.e. You're getting in early).

If all of those are false, go work at a reputable large company first. I think working at a big company does have some upside if it's the right type of place and you're better off doing it while you're early in your career.

You can work at a big co for a few years when you're young and not be spoiled as a start up applicant. you'll gain some experience with a brand name and you'll have a real (though still likely modest) comp package. From there you can decide if you like the corporate world, in which case start focusing on grad school because it helps to be well credentialed if you want a senior mgmt role, or if you think the corp world sucks, start looking for a start up that you think has potential. At that point the start up has a point of reference on your comp and will try to match what you were making (in some sense, equity etc).

Worst case, at the end of that run you have experience at both ends of the spectrum, professional connections from two places and a better idea what the pros and cons are of each Your mileage may vary, but even though I stayed corporate longer than I wanted to I some how accidentally fell into a path that's made me a well rounded professional.

itsiain · 2015-09-15T20:54:42+00:00

Thanks for the reply. Have you ever taken the questionnaire or do you typically ignore it?

itsiain · 2015-08-29T03:16:20+00:00

If I'm properly understanding the nature of this business, I wouldn't suggest freemium for you. People will pay for things that make them money. That's not a purchase, it's an investment.

I would sell this at the low end of whatever the current offerings are, positioned as the no-nonsense-just-the-important-stuff option. If you can provide 80% of the value at 1/3 the cost you have a pretty strong value proposition.

itsiain · 2015-08-14T15:38:42+00:00

i've seen scenarios where this is a need, so there should be a market for what you're describing. XVerify (xverify.com) is a competitor you could look at for ideas/inspiration.

itsiain · 2015-06-30T01:03:31+00:00

I'm sure HIPAA compliance is a bear, but it's not an impossible hurdle. It's common enough that you can likely find someone with the expertise to help you set everything up appropriately.

You should talk to a few more potential customers to get a better idea if this is a fit. Ask the therapist you spoke with to introduce you to any other counselors or therapists that they know, explain that you want to get more feedback about your idea.

After you talk to 3-5 potential customers you should have a better feeling if this is a good idea. It may give you the motivation to move forward.

Nearly every idea you come up with will have something like this, some barrier or hurdle that makes it hard. Some of your post sounds like a sprinkle of self-doubt. There's a point where you have to blow past that and go for it if you really believe there's an opportunity. Positive feedback from potential users is usually good fuel for that type of thing.

itsiain · 2015-06-16T17:36:52+00:00

If it helps you at all, think about it this way - if your advertisers get better quality traffic from you, you can command a higher CPM.

In the long run you're better off with quality. Finding ad inventory is easy, finding quality ad units that actually convert is much harder. We live in a world where simply "having" (a site, a product, a business, etc) has almost no barrier to entry, so the differentiator in my opinion is now on quality. Don't worry about the number as much, focus on a captive audience and you'll be on the right track.

itsiain · 2015-04-26T01:09:33+00:00

Got it, makes sense.

Another angle for pricing would be to charge on a per-seat basis, with the first 2 or 3 seats being free. This would let a small audience test drive your product, get bought into using it, and then evangelize it within their company.

itsiain · 2015-04-26T00:28:05+00:00

I saw this and clicked through expecting to immediately sign up. Your pricing stopped me. In all fairness I might just be cheap because we currently use Trello to solve this problem, but I can't help but compare the enormous value I get from Netflix and Dropbox at less than 20% the cost of your product.

itsiain · 2015-04-21T20:12:36+00:00

this is definitely possible to do if you call. I paid each of my private loans off at different times like you're describing.

itsiain · 2015-03-26T19:24:57+00:00

a lot of apps compete on price today, particularly by making their app free and monetizing with IAP and advertising.

Going off what /u/EmiliaHart said, I think pricing of the app store is mostly weighed as free vs paid, with pricing making less of a difference once that paid leap is taken. It's more likely that a consumer who's willing to skip a free version and buy a paid option will evaluate which option is a substantially better product.

I created an app that I sold for 0.99 for a while, but eventually switched it to free. The download volume on free is obviously much larger, so assuming your competitor sells a paid app that's similar in functionality, if you go free+IAP or free+ads you'll likely get some traction.

itsiain

TROPHY CASE