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The "Cold Start Problem" has significantly influenced strategies for launching networked products. It refers to the challenge of launching a product that relies on user interaction and network effects, but struggles to provide value without an existing user base. This problem has led to strategies such as seeding the network with initial users or content, leveraging existing networks, or creating incentives for early adopters. For instance, Google+ tried to overcome this problem by creating hype in the press, but it lacked the strength of small networks that successful products have, leading to poor user engagement.
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Users heard about Google+ in the press, not from friends. Because of this, engagement was poor. Users averaged 3 minutes on Google+ per month around launch; in the same period, Facebook users averaged 6-7 hours per month. The launch of Google+ was based on hype, and it never had the strength of small networks that successful products have.
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When a networked product launches, it faces a chicken-and-egg problem: people need to use it for it to be worth anything. So how do you start the very...
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