The ICED Theory and Twitter's Forgotten Founder: Insights into Growing Infrequent Products and the Power of Collaboration

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Aug 21, 2023
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The ICED Theory and Twitter's Forgotten Founder: Insights into Growing Infrequent Products and the Power of Collaboration
Introduction:
In the world of product development and growth strategies, there is often a focus on frequent products that have a high level of user engagement. However, infrequent products face unique challenges in terms of user retention, customer loyalty, and market penetration. This article explores the ICED theory, which provides a mental model for addressing these challenges, and delves into an interview with Noah Glass, the forgotten founder of Twitter, highlighting the power of collaboration in building a successful product.
The ICED Theory: Understanding Infrequent Products
The ICED theory, which stands for Infrequency, Control, Engagement, and Distinctiveness, presents a framework for understanding and addressing the challenges faced by infrequent products. Infrequent products, which have natural frequencies of less than once per month, fall into what is known as the "Forgettable Zone." Due to their low frequency of use, it is easy for users to forget about these products. This poses a significant hurdle for product recall and customer retention.
One key aspect of the ICED theory is the degree of engagement before, after, and during the transaction. Engagement plays a crucial role in ensuring customer loyalty and retention. Complex transactions, a high degree of touch, and predictability of retention all contribute to higher levels of engagement. Reducing the perceived effort invested in a transaction can also decrease customer churn, as highlighted in the book "The Effortless Experience" by Matthew Dixon, Nick Toman, and Rick DeLisi.
Distinctiveness of the product is another crucial factor in the ICED theory. Failure to be distinctive, coupled with the infrequency of transactions, can strain customer acquisition. In the case of infrequent products, market penetration becomes a key factor in achieving product-market fit. Unlike frequent products, the wider time gap between transactions necessitates a focus on reaching a larger audience to sustain growth.
Noah Glass and the Power of Collaboration
In the interview with Noah Glass, the forgotten founder of Twitter, the importance of collaboration in building a successful product becomes evident. Glass emphasizes that Twitter was not the result of a single individual's efforts but rather a group effort. He acknowledges that while some individuals may have received credit, it was ultimately a collaborative endeavor that came out of necessity.
Glass recalls his initial feeling that Twitter had the potential to be something massive. He believed strongly in the product from the beginning and recognized its social aspect as a key driver of growth. The idea of using Twitter for updates from police departments or fire departments was built into the concept early on. Glass also praises the shrewd business acumen of Ev Williams, one of Twitter's co-founders, who had the ability to spot value and transform Twitter into a compelling and engaging platform.
Actionable Advice:
- 1. Prioritize engagement: For infrequent products, engaging users before, during, and after transactions is crucial for retention and loyalty. Streamline processes and reduce perceived effort to decrease customer churn.
- 2. Focus on distinctiveness: Ensure that your infrequent product stands out in the market. Find unique selling points and communicate them effectively to attract a larger audience and achieve market penetration.
- 3. Embrace collaboration: Recognize the power of collaboration in product development. Foster a culture of teamwork and encourage diverse perspectives to create innovative and successful products.
Conclusion:
The ICED theory provides valuable insights into addressing the challenges faced by infrequent products. By understanding the factors of infrequency, control, engagement, and distinctiveness, companies can develop effective growth strategies. The interview with Noah Glass, Twitter's forgotten founder, further emphasizes the importance of collaboration in building successful products. By embracing collaboration, prioritizing engagement, and focusing on distinctiveness, companies can navigate the unique landscape of infrequent products and achieve long-term success.
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