The ICED Theory: A Framework for Growing Infrequent Products and the Power of Curation in Learning

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Aug 09, 2023
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The ICED Theory: A Framework for Growing Infrequent Products and the Power of Curation in Learning
Introduction:
Managing infrequent products can be a challenging task as the limited window of interaction makes it difficult to maintain user engagement and retention. In this article, we will explore the ICED Theory (Infrequency, Control, Engagement, Distinctiveness), a framework to grow infrequent products. Additionally, we will delve into the power of curation in learning and its benefits for both curators and their audiences.
The ICED Theory: Boosting Infrequent Product Usage
Products can be categorized based on their natural frequency of usage, known as the Use Case Frequency Spectrum. Frequent products, which are used more than once per month, fall in the "Habit Zone," making it easier to build recurring habits with users. On the other hand, infrequent products, with less than quarterly usage, are in the "Forgettable Zone," as users are more likely to forget about them due to the low frequency of use.
One common mistake is applying the same tactics and strategies used for frequent products to infrequent ones. Most modern product and growth strategies were developed for companies with frequent products, treating infrequency as a bug rather than a feature. Managing infrequent products requires a different approach, and understanding the ICED Theory can be instrumental in achieving growth.
The ICED Theory consists of four dimensions: Infrequency, Control, Engagement, and Distinctiveness. By strategically moving from the left to the right side of the spectrum for each dimension, infrequent products can be successfully grown.
- 1. Infrequency: Understanding User Behavior in Limited Interactions
For infrequent products, the window of interaction with users is limited. To effectively manage these products, it is crucial to gain knowledge about the users and product within this short duration. Conducting customer research in a transactional domain can be challenging, but uncovering pertinent pain points and understanding users' mindset during the hiatus between product use is essential.
- 2. Control: Crafting a Complete User Experience
Controlling the user experience is crucial for infrequent products. While some products like TurboTax offer a complete experience within the product itself, others like Indeed.com have limited control over critical components such as the job interview process. Offering a seamless and memorable experience, even outside the product, can significantly impact user satisfaction and retention.
- 3. Engagement: Immersing Users throughout the Transaction
Engagement plays a vital role in infrequent products, particularly during a transaction. Reducing perceived effort and making the transaction as effortless as possible can dissuade customers from seeking alternatives. Additionally, understanding whether a product requires single touch or constant touch can influence the overall engagement strategy. Predicting retention is also crucial, as some infrequent products have predictable retention while others do not.
- 4. Distinctiveness: Standing Out in a Competitive Landscape
The distinctiveness of a product can greatly impact customer acquisition and repeat acquisition. Brands like Airbnb enjoy strong recall among customers and non-customers alike due to their unique value proposition. Non-distinctive offerings often rely on search engines and paid traffic, making customer acquisition challenging. Striving for distinctiveness while navigating the infrequency of transactions is essential for sustainable growth.
The Power of Curation in Learning
In addition to understanding the ICED Theory, another valuable skill worth developing is curation. Curation involves collecting and organizing relevant content for a specific audience. Here are three key points to understand about curation in learning:
- 1. Audience Relevance: Curating content requires familiarity with the target audience to ensure the collected materials remain relevant. This enables curators to provide valuable resources that meet the specific needs of their audience.
- 2. Copyright Benefits: Curation encourages full transparency of source material, making it beneficial for copyright purposes. By attributing the original sources, curators can share valuable content while respecting intellectual property rights.
- 3. Knowledge Development: Active curation allows curators to become increasingly knowledgeable on a subject. Similar to reading multiple books on a topic, curating content helps curators deepen their understanding and expertise, benefiting both themselves and their audience.
Conclusion:
Managing infrequent products poses unique challenges that require a tailored approach. By understanding and implementing the ICED Theory, product managers and growth strategists can navigate the complexities of infrequency and drive sustainable growth. Additionally, developing the skill of curation can benefit both curators and their audiences, fostering knowledge development and providing relevant and valuable content. Embracing these strategies and skills can pave the way for success in the world of infrequent products and learning.
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