Are You Building an Army of Users?
Lately, I’ve been researching onboarding, pre-launch strategies, user adoption and as a result, I’ve run into several growth hacking stories that lead to successful products and brands that were later acquired for hundreds of millions of dollars.
In today’s episode, I discuss two of those brilliant growth hacking strategies that led to mass-adoption and why it worked so well.
Specifically, I’ll discuss Mailbox, later acquired by Dropbox and Hotmail, later acquired by Microsoft.
From my perspective, the thing that made these products worth $100 to $400 million dollars is due to their ability to grow an incredibly large number of users.
Don’t get me wrong, having a good product was still important, but the ability to use these products to achieve mass-adoption of millions of users is a powerful incentive.
While so many people are still fighting to build and grow a brand, they’re missing the most important element that Mailbox and Hotmail did right. They focused on building an army of loyal and passionate users who spread their products and services to friends, coworkers, and family.
Finally, and I only touch on this briefly, but when you’re using your users to grow adoption and increase onboarding, it’s easier to track, which makes it easier to define what’s working and what you need to do to grow.
In this 25 minute episode, I’ll discuss:
- The success of Mailbox’s user adoption strategy
- Why Dropbox was willing to pay $100m
- The simple hack that took Hotmail to 12m users in 1.5 years
- Why Microsoft was willing to pay $400m
- Why building a strong user base is more important that your brand