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Do we need virality to build sustainable product?
I am curious, why most of viral product doesn't work for long term.
They shortly goes up and then left behind by customer. Such as clubhouse
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Durga Singh
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Nah. A sustainable product is one in which it costs less to run the product than it's making. For example, it costs $20/year for a website that you sell a $5 course on. Once you hit that 4th sale, it's a sustainable product.
A lot of viral products, especially in tech, BLOW through money. Like, food delivery apps were hemorrhaging money, drivers were barely paid above minimum wage, and users were paying high prices. That is not a sustainable product. Where's the money going you may ask? Lawsuits and investors...
Investing is great if it's done correctly, with proper funding and not with venture capital with ridiculous interest rates. Unfortunately, sustainable growth doesn't bring 2000x profit, so that's why you see the crash and burn. They flew too close to the sun.
@backseosoftware I agree with you on this one.
but I do have a question, with the recent trend on investors (angels, VC's etc) not wanting to splash the cash anymore because of some scams like the Theranos, the Ftx, and many other scams on Kickstarter. Would you still say that VC's are still splashing the cash on disruptive Technologies that never really hit product market fit?
@dynasty yes. this expands outside VC too. we'll see it soon with a lot of AI companies. happens to all the buzzwords
@katushkas indeed, but getting in front of many people can potentially bring in more benefits quickly than sustained growth no?
A good product should create hype periodically and not take off like a rocket once and fall rapidly. Therefore, hype should be part of the product promotion strategy, not an accident.
It is difficult to name a successful product that would not be on the hype. Therefore, I believe the hype is necessary for the profound success of the product.
Basically the things that make a product shareable aren't necessarily the same things that help a product's retention.
Either one without the other won't work long term as you say!
I strongly believe storytelling is more important than virality for building a sustainable product.
While virality can provide an initial boost, sustainable success depends on more than just short-term hype. Building a truly valuable and sustainable product involves focusing on user needs, delivering consistent value, adapting to feedback, and fostering a loyal user base.
Virality can be a tool, but a well-rounded product strategy that addresses long-term needs and continuous improvement is essential for lasting success.
What do you think?
@akanksha_hunts completely agree with your point!
That is why I am building https://www.newsjack.me/, I am convinced that if integrated in a well ready product might be very beneficial
I think in today's world, yes. The main thing is to use the hype correctly.
I think there are several lines of defense that new products need to cross to remain sustainable.
First one is accessibility. I think Clubhouse hurt its chances by starting out as an iOS exclusive app and by the Android release the hype slowed down. Outside factors didn't help either, as people started to get tired by the whole remote situation introduced by COVID. I think streaming platforms do an incredible job in this area.
Second one is the network effect. Okay, I got Clubhouse, who else is there? It's like going to a library where you can read books written in a language you don't know. It's nice and all but it's of no use for you. I believe TikTok succeeded in this area by turning the flow upside down: it showed people content they'd share and consume with others who might not be connected to them in any way on the platform itself.
Third one is value. The moment Threads opened its gates for the public, it was flooded with ads and brand generated content. Users who were otherwise curious about the new platform met with the same thing they can see everywhere on the internet: ads. It represents no value to users, therefore they let it go.
Accessibility, network effect, value. I think at least 2 of these 3 factors need to be delivered to remain sustainable.
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