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Identifying the Friction

One of the most rewarding experiences of building @Kollecto is identifying  & relieving friction.

This past month was full of friction!

 

I was getting lots of signups on artkollecto.com

And lots of people were filling out Art Taste questionnaires for their Advisors

But few people were responding when I tried to schedule a chat with their Advisor!

This was frustrating for one particular reason!

Almost all of my clients who had conversations with their Advisor were having great experiences with Kollecto.

 In fact, 60% of them were gearing up to buy art through Kollecto!

So the friction was in one particular place- getting people on the phone with their Advisor.

So this week I made some changes to my sign-up flow.

People still express interest through artkollecto.com

But I added a question to the Taste Questionnaire asking people how they’d like to interact with their Advisor. There are 3 options:

  • Phone call first, then email
  • Video chat first, then email
  • Email only

For those who want a phone call or video chat, they can schedule the time right in the questionnaire instead of doing it as a separate step.

It’s only been a few hours & I can already see the difference!

There’s been a wide variety of answers to the ‘how do you want to communicate with your advisor’ question.  

My new sign-up flow is letting us communicate with people the way they want to be commutated with. I’ll keep you posted on how this experiment progresses. 

UPDATE: Over 70% of new customers picked ‘email communication only’. This is a HUGE learning

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My side project has a side project!

Project set-backs always feel like crap… but they usually spark exciting new experiments & iterations.

 

This was the theme of my week while building Kollecto- my side project to help young people become art collectors.

Last week I saw lots of user growth due to a Product Hunt post on Kollecto. A good number of people came all the way through the pipeline, filled out client questionnaires, & picked an advisor. But when I emailed people to schedule calls with their advisors, my response rate was low.

Learnings:

  • People are using Kollecto advisors to make calculated purchases rather than as ongoing mentors who’ll help you articulate your taste & teach you about developing an art collection.
  • The idea of working with an art advisor is still intimidating to the layman
  • If I want to help teach people about art collecting & my advisors are being perceived/ used as sales clerks, then I need to front-load Kollecto’s user experience with more education before I throw them into a relationship with an advisor.

So I’m building a side project for my side project!

I’m building a 10-week course for aspiring art collectors. Students get weekly lessons in their email inbox. Upon ‘graduation’ they’ll get their own Personal Art Advisor + other goodies to help them start an art collection. I’ll keep everyone posted on how it goes!

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That time I mentored someone & copied everything I learned at Foursquare…

While interning at Foursquare, I was lucky enough to be mentored by two amazing people- Brynne Zuccaro & Jon Steinback.

No really- everything I know about marketing, I learned from them!

 

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So when I started Kollecto & hired an intern (Nahyun Kim), I copied everything I learned from Brynne & JS.  Several times a day, I ask myself, ‘what would Brynne do’ when it comes to partnering with Nayhun. I think Nahyun & I have a really great working relationship largely because I have Brynne & JS as references.

Nahyun & I have crafted a scenario where she manages one of the things I know best- acquisition marketing.

This may sound counter-productive, but it’s allowed me to learn a new set of skills while simultaneously passing a skill-set off to her.

 I guess this is how mentorship is supposed to be… cyclical.

Thanks Brynne, JS, & Nahyun 🙂 

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Killing three birds with one stone (aka Product Hunt)

As part of @OrbitalNYC Bootcamp, we have some crazy assignments.

One assignment is to post something on Twitter/FB that gains 20+ retweets. What?! 20 retweets is a lot!!

Another assignment is to get someone to write a blog/news post about something you made.

This week- I tried to kill three birds with one stone…

The first bird was part of the ongoing market-fit experimentation I’ve been doing. I’ve been testing user segments & channels to figure out WHO is interested in a product like Kollecto. I’m learning, for example, that young real-estate brokers love my project!

I’ve also been getting interest from tech early-adopters. So I wanted to, more thoroughly, test this segment.

To do this, I went to ProductHunt.com and searched for Art startups. I then emailed ~5 people who had submitted art startups before. I got responses from 2 people- and Jack Smith was kind enough to write the post for me.

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Then, I posted a tweet about the Product Hunt post & sent emails to my network asking them to upvote the link.  My upvotes ended up being ~65% from friends & 35% organic. 

I ended up with 13 favorites & 18 retweets (not 20, but close)!

16 retweets were from friends (I guess that’s how twitter works). It was also in my best interest to boost eyeballs on the post- since my original objective was to test the ‘techie market’. So I spent ~$20 on promoted tweet ad, targeting people who follow both @ProductHunt & @Guggenheim.  This got me two more retweets & more Kollecto signups. Maybe I’ll get the final two as a result of this blog post 🙂

 image

So that’s three birds-

  • Bird #1- 
  • Test the ‘tech early adopter’ market (this went well & I got lots of signups- the Product Hunt post drove ~40% of my signups to-date).
  • Bird #2-
  • Get someone to post/blog about your project
  • I got an extra blog post from TechAvenge– they seem to pull content from trending companies on Product Hunt
  • POST-PUBLISH UPDATE-I also got an extra blog post from Autosend who featured my blog post here

image

  • Bird #3
  • Get 20 retweets (well…18!)

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PS-

To prep for this campaign I read the Autosend article on how 23 startups got their first users. It gave me lots of ideas!!

I was also really inspired by an article Gary Chou shared on ‘the forward intro email’ by roybahat. I applied the tactics in the article when asking people to post Kollecto on Product Hunt.

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Starting with friends

This week I did a lot of experimentation aimed at answering the ‘who want this’ question.  I think my take-away of the week is that I should focus my early growth on my personal network.  This is common in the traditional art advisory space (and for services in general) where most work is referred by word of mouth.  What’s interesting is that I’ve been pursuing the opposite strategy- actively not targeting friends so I can understand how a true stranger-customer responds to Kollecto. 

Has anyone read articles on whether starting your business with friends/acquaintances is a terrible idea?

My first 3 customers have been acquaintances- one who read about Kollecto on social media & reached out to me; another 2 who I reached out to b/c they both told me (months ago) that they wanted to be art collectors.

I frequently have friends ask me for art collecting advice or to come along when I visit galleries. Is it a bad idea to start here? My concern is that it won’t be scalable & that my growth will plateau after I exhaust my friend-base.

Below are the segments & channels I tested this week:

 

Segments tested

  • Recent grads
  • Art lovers  & aspiring collectors
  • Designers & fashion bloggers
  • Recent grad friends who’ve expressed interest in art (my network)
  • Management Leadership for Tomorrow young professionals (my network)

Segments not tested yet

  • Established collectors
  • Tech early adopters
  • Museum young professionals

Channels tested

  • Email
  • Meetup.com (internal messages that push to external email)
  • Linkedin 1:1 messages
  • Twitter 1:1 messages

Channels not tested yet

  • Twitter ads
  • Facebook ads

Messaging tested

  • Tips: Free tips on affordable art collecting
  • Service: Personal art advisor for $40/mo

Resultsimage

Next steps

Next week I’m going to pursue a few more channels & segments and then start scaling what works.