Title
|
Fireside
Chat with Mitch Lowe, App Marketing
|
Place
|
D.Camp 5F Seminar Rm
C
|
Time
|
April 10, 2014 4:30PM~9:30PM
|
Speaker
|
Mitch Lowe, 유영철
|
Organizer
|
Wisdome
|
Focus
|
multi-platform service, app marketing
|
1.
Message
1)
Netflix Info
① Business:
launched in 1998 as Kiball? (Netflix’s previous name) (c.f. Amazon 1994 launch)
② Internal
rule- if business doesn’t succeed, reiterate business model renewal every 90
days
③ Stat: grew
up to 40 million customers, 7 million DVD via mail before he took off the
company
2)
Redbox Info
① Business:
started small with 6 kiosks->40,000 kiosks in North America in 2012
② Pattern:
40% of DVDs are returned via different kiosks than the ones they rented out
from
3)
Advices for start-ups
① Execution
is the key for success
A
Build the right team: find someone with
whom you can be with long hours
B
Try zombie test to find the right partner: meaning
when you get bitten by zombies, will he tell you about that fact
C
Keeping the momentum going: improve and do
something about your business to keep investors and customers continuously interested
4)
Regrets
① Didn’t
fire bad people early enough
② Got
lazy in raising money (c.f. US Congress raise money every 2 weeks)- one of the
key reasons why raising money is to recruit best people
③ Didn’t
hire enough smart people and didn’t overpay them
2.
Q&A
1)
What factors did you consider when
launching a service in different platforms; which platform to introduce first?
① Studied
cancellation rate for each platform and asked what makes users quit and how
often do they quit using them
2)
For CineMatch, can you make a comment on
how do you find matching movies for individuals? -> Collaborative filtering
<source: link>
① Searches
the CineMatch database for people who have rated the same movie - for example,
"The Return of the Jedi"
② Determines
which of those people have also rated a second movie, such as "The
Matrix"
③ Calculates
the statistical likelihood that people who liked "Return of the Jedi"
will also like "The Matrix"
④ Continues
this process to establish a pattern of correlations between subscribers'
ratings of many different films
3.
Takeaway
1)
Recommendation algorithm: CineMatch
2)
For start-ups, the importance of interviewing
applicants with as many employees as possible and quickly firing people if they
are not a good fit with the company
1.
Message
1)
App marketing strategy: utilize platforms
(e.g. “카카오 게임하기” ranking, “카카오 친구초청하기”), tracking rules
(e.g. CPK: 카카오 연동)
2)
General strategy
① Game
app- usually peak downloads go one month and can last up to three months
② Non-game
app (e.g. utility apps)- try discount pricing
3)
Success case: Polaris (e.g. US- Facebook;
JN- Twitter; KR- blogs)
① Tried
price discount
② Paid
attention to competitive apps and put marketing money when the number of those
apps is going down
2.
Takeaway
1)
For mobile app marketing, trends in Korea are
moving to non-incentive ad network such as AdMob or Inmobi
2)
For non-game app marketing, put budget on
mobile ad platforms such as Facebook
3)
For Google Play marketing, put money
incrementally such as 1 million KRW-> 5-> 10 instead of the other way
around
4)
Shoot to be featured in each app
marketplace to increase your revenue
5)
Take advantage of competitors’ app ranking trends
(e.g. perhaps with App Annie): meaning
put money in when they are going down
6)
Facebook ads provides 10~20% conversion
rate on average (c.f. 1~3% on AdMob)
7)
When advertising, always put analytics and
tracking tools together
8)
For CPI marketing, run a test such as 1,000
downloads first?
