Creating a Sticky Product: Combining the Power of Data and Community

Creating a Sticky Product: Combining the Power of Data and Community

In today's digital age, creating a product that sticks with users is the ultimate goal for any company. We look at successful examples like Facebook and Evernote and wonder, how did they do it? The answer lies in understanding the concept of a sticky product and leveraging the power of data and community.

A sticky product is one that uses the data a user creates while engaging with the product as fuel to make the experience even more engaging for that user. It's a win-win situation where the user accrues benefits from using the product, and at the same time, finds it harder to leave due to the mounting loss they would experience. The more they use the product, the better it gets, and the more they have to lose if they were to leave.

To create strong accruing benefits, a product must leverage both explicit and implicit actions. Explicit actions are the ones that users consciously take, such as liking a post or sharing content. Implicit actions, on the other hand, are the ones that users may not even be aware of, but the product uses them to enhance the user experience. By combining these two types of actions, a product can create a seamless and personalized experience that keeps users engaged.

But it's not just about data. The role of community is equally important in creating a sticky product. In the curator economy, where curators hold as much power as content creators, community plays a crucial role. People are looking for guidance and trust in an oversaturated world of content. They want someone who can distill and distribute the best content through the lens of an expert.

Micro-influencers have emerged as the favored choice over sought-after celebrities. They have a closer connection with their community and are more relatable. The value lies not just in the curated content but also in the curator's specific outlook and expertise. Knowing who stands behind the content we consume adds value and trust to the experience.

However, the meaning of true curation has been diluted by those who monetize sloppy work and call it curation. As a knowledge-obsessed community, it is our responsibility to rescue the true meaning of curation. We must ensure that curators are driven by a passion for informing and selecting valuable content rather than a hunger for money.

So, how can we create a sticky product that combines the power of data and community? Here are three actionable pieces of advice:

1. Focus on the user experience: Understand your users' explicit and implicit actions and use them to enhance their experience. Leverage data to personalize their journey and make the product better the more they use it.

2. Build a strong community: Invest in building a community of micro-influencers who can curate and distribute valuable content. Foster a sense of trust and closeness among the community members, making them relatable to the target audience.

3. Emphasize true curation: Encourage diligent curation that adds value to the content being consumed. Educate the community about the importance of true curation and the difference it makes in their experience. Monetize curation fairly, rewarding those who put in the effort to inform and select.

In conclusion, creating a sticky product requires a combination of data and community. By understanding the concept of accruing benefits and mounting loss, and by leveraging the power of curated content and a strong community, companies can create products that users find hard to leave. It's about creating a personalized and valuable experience that keeps users engaged and coming back for more.