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> We charge users a fee, .. to sign up. This friction causes users without a strong intent to do financial investments to drop off. .... The mere act of signing
by zxienin 4y ago
> We charge users a fee, .. to sign up. This friction causes users without a strong intent to do financial investments to drop off. .... The mere act of signing up does not create a user.
This is so obvious.
It amazes me, that one needs to swim against the tide, on something as obvious as this.
this is a good post.
- danuker 4y ago> Choosing a financial services firm to manage one’s personal finances is a critical, long term decision. This is not true for every industry. For example, a lot of mobile games are "freemium". It might be worth offering free services to some people, in order to get them hooked. Maybe that way more end up signing up.
- salawat 4y agoYa know... I'm reminded that the only other industry that uses terms like 'users' and 'hooked' is drugs. When did software and computing become drug dealing?
- danuker 4y agoIf you ask me, it's when smartphones started outnumbering PCs. There is almost no software freedom on smartphones.
- kevinh 4y agoHook/hooked aren't limited to drugs and software. Books, shows, songs, news articles, etc. all have hooks. They just don't use the term user because the mode of interaction is different.
- doctor_eval 4y agoThat’s an old trope, but it’s not really true. My TV has a user guide, so does my fridge, my brush cutter and my soldering iron. And, while I wouldn’t say that “hooked” is a term used widely across the whole software industry - though obviously in this context it’s more common - nevertheless, it’s hardly a term we share exclusively with drug consumption. In fact, without thinking about it much, I think the nearest similar industry may possibly be day-time TV.