Tweets

@kylegawley @crisp_im That's the whole point of my thread! 😄

https://twitter.com/mijustin/status/1359226610805731329

@ananthsounder You don't want to be too off.

If your competitors are all charging $39, $29 could be a good starting point.

https://twitter.com/mijustin/status/1359229216391262208

In the beginning, you have to prove yourself!

Your product hasn't built any trust. There's no reason to market it as a "premium service at a premium price."

Many of the luxury brands you know today had humble beginnings.

Most folks have to start small.

https://www.crfashionbook.com/fashion/a26934683/evolution-gucci-designer/

@kylegawley @crisp_im Also relevant:

https://twitter.com/mijustin/status/1359229216391262208

@kylegawley @crisp_im Yes, I agree. Generally, you're anchored to your competitors.

But (in your example) there's clearly an opportunity for a $29/month product that offers more value for a lower cost.

https://justinjackson.ca/charge-more

Even premium-priced upstarts end up being a "lower cost for better value" play.

In WPengine's case, they were more expensive than Bluehost, but they dramatically reduced the amount of time + money a site owner had to spend on security and updates.

(h/t @asmartbear)

Both @crisp_im and @endcrawl are upstarts in established categories.

Neither is offering "bottom of the barrel" pricing, but they do offer a significant amount of value (for a lower cost) when compared to the alternatives.

Another example:

@endcrawl provides software that generates film credits. Their pricing starts at $499 per project.

That might seem like a "high price," but they're still faster + cheaper than doing it the old way.

https://twitter.com/iampliny/status/1359229092198043664

BTW – I'm not talking about charging $5/month when all your competitors are charging $99/month.

I think @crisp_im is a good example: they charge $99/month for their unlimited plan, which is significantly cheaper than what Intercom charges.

More value, at a lower cost. 👍

@N0RESP0NSE It really depends on the context, but if you're brand new (and untrusted) and you're charging more than a trusted incumbent, I think it's going to be harder to make sales.

@_JosephMcDade awww yeaaah 🔥

@kylegawley It has to be both "a lower price" and "more value."

@crisp_im is significantly less than Intercom, but I tried the product and everything feels really high quality.

This idea that consumers automatically determine something that is "low price" to be "low value" isn't true.

I'd argue that most new businesses have to compete on price because they're... new and unproven. 😉

You haven't earned the right to "charge more" yet.

You don't want to compete on price forever, but in the beginning, it's often necessary.

https://twitter.com/N0RESP0NSE/status/1359226922593628162

@N0RESP0NSE I'd argue that most new businesses compete on price because they're hungrier than the competition. 😉

You don't want to compete on price forever, but in the beginning, it's often necessary.

@0xholman I think there are opportunities in certain industries to offer niche software, for sure.

But even those need to be priced competitively.

For example, @endcrawl provides software for film credits. But a major draw has to be that it's faster + cheaper than doing it the old way.

In many categories, the incumbents have gone upstream, and their pricing is now aimed at the enterprise. They've left the SMB market behind.

There's a huge opportunity in targeting SMBs/prosumers who can't afford enterprise prices.

Before I get too many replies and emails:

YES, in certain cases offering a higher price (for a truly premium offering) is a better approach.

But in software (in most categories) your pricing is already being anchored by your competitors:

https://justinjackson.ca/charge-more

@0xholman I'm not sure if I understand.

I explore my thinking in more detail in this post:

https://justinjackson.ca/charge-more

@yarobagriy But wouldn't incumbents have better distribution and brand than a new startup?

Too many founders have drunk the "charge more" Kool-Aid and try to offer a premium price from day 1.

In many established categories, you're not going to be able to compete if you have fewer features but a higher price point. 😜

New SaaS entrepreneurs:

Don't discount the opportunity to go into an established category and offer more value (for less cost) than the incumbents.

"Lower price for more value" is a great competitive wedge.

@_mattdavidson I really like @podysseyapp for recommendations

@podcastharry Ahem. That's a podcast. 😜

@podcastharry That's @_JosephMcDade. He's great!

(We're getting songs from other composers as well)

Interesting read from @packyM:

“How Twitter got its groove back”

Twitter is definitely well-poised to take advantage of the creator economy.

https://notboring.substack.com/p/how-twitter-got-its-groove-back

@crunkilton22 @TransistorFM Thanks! 🙌

Just launched this today 🎉

https://twitter.com/TransistorFM/status/1358941139483590656

@jessethanley @_KevinGraham @Bento Bento looks awesome, but it looks like you don’t have live chat as a feature? (With iOS app for agents?)

@darianrosebrook 12 years is a good run!

@kilianvalkhof @m1guelpf @crisp_im This is what we were doing with Kayako:

https://gist.github.com/mijustin/79c476b2f8e69f474691a9081e74d4f2

Alright, I'm testing @crisp_im out (live) on http://transistor.fm.

Want to come chat with me and help me test it out?

(Happy to answer your 🎙️ podcasting questions as well 😄)

@mikecodemonkey @elevioapp Do they offer live chat?

Live chat (on mobile) is pretty important to us.

(I like being able to answer customers really fast, even if I'm sitting on a ski lift! 😜)

So I'm going to try @crisp_im next.

@JanisKelemen @helpspace @honeybadgerapp We’ve had it for 3 years, and it’s felt pretty significant.

Generally, even as a small team, we’re able to respond pretty quickly.

We often triage chats “on the go” on the Kayako mobile app.

@JanisKelemen @helpspace Gotcha.

Live chat is really crucial for us. It's one of the ways we stand apart from our competitors (we can often respond immediately).

We also need to be able to chat via iOS app (as we're often on the go, triaging from home, etc).

@JanisKelemen @helpspace Do you offer live chat?

Ok. @helpscout seems to be getting the most recommendations.

Signing up now. I'll report back! 🤙

@svenluijten @ianlandsman We need live chat as well.

Argh. Ok. I'm in the market for a new customer support app (live chat + email).

We're on Kayako right now and we've now had ~4 hours of downtime.

Everyone seems to recommend HelpScout. Anything else I should look at?

(I'm making a decision today)

@Patticus @hnshah really enjoyed this! Glad you two are back on the mics. 👍

https://overcast.fm/+TeLuN3F48

@typeoneerror Better odds maybe?

Just arrived in the mail: @adii’s new book!

RT @mijustin: Pent-up demand isn't unleashed until there's a solution that satisfies an audience's desire for something better.

Every time…

@ahmednadar Hard for me to know for sure!

MegaMaker was a paid community from the beginning.

I’ve never tried a free community.

@awilkinson @Shpigford Doesn’t most content have some sort of “feed queue” these days?

(Email newsletters, Netflix series’, even Audible books “stack up” into a queue...)

@xoelipedes @falexandrou That’s the old version.

New version is here: http://devmarketing.xyz

@peterc I’ve found the inability to pause or mute audio difficult.

With podcasts, if I’m listening and doing dishes, I can easily pause if someone asks me a question.

@HighFiveRPG My worry is that, with Clubhouse, they’re getting 2-3 millions daily active users, all spending significant time on the app.

Power users might be spending 8+ hours per day, but it’s not hard for the casual user to get sucked in for 2 hours per day.

This is true of all social apps:

The more time and energy you put into the machine, the more the machine rewards you with clout.

For Clubhouse power users, there’s a habit-forming cycle that keeps them coming back:

1. Join a popular room
2. Get noticed and pulled on stage
3. Say something smart; get reactions.
4. “Halo effect” results in tons more followers on the platform (and lots of DMs elsewhere)

@noahwbragg And, for now, those folks are being rewarded with tens of thousands of followers.

I can see why they do it.

My guess is power users are regularly spending 8+ hours a day on Clubhouse.

In investor-speak, Clubhouse’s “user engagement” is off the charts. It’s habit-driven by design.

Investors love engagement, because they can then monetize users’ time and attention.

There are definitely some possible long-term negative affects of social audio that need to be considered.

The fact that they consume so much time is particularly concerning.

Again, I can see social apps being useful when you’re alone, and want to instantly connect with folks. (Perfect for pandemic interaction, really)

@HighFiveRPG @jakecrowe Looks great! 🙌

Another observation:

You can’t be on Clubhouse/Spaces and be around other people IRL at the same time.

(If I’m at home on CH, I almost always have to hide away somewhere)

These apps require all of your real-time attention.

They’re not easily mutable, and you can’t hit pause.

@thekylemarshall ✊ Yup, it’s an (overly?) demanding medium.

@falexandrou Thanks! Did you just order that off Amazon?

@APKoponen Anchor tried that model initially.

Right now, @theothercole is building @VoiceBlastsfm, which looks promising!

https://voiceblasts.fm/

@APKoponen And for long stretches of time!

@McCroden @jayacunzo I really like how @nbashaw and @danshipper do theirs: they go live on Clubhouse and record their podcast at the same time. Then they do a live q&a on Clubhouse.

I haven’t been able to catch them live yet, but I *do* listen to the podcast version. 👍

https://podcasts.apple.com/ca/podcast/talk-therapy/id1517270662

@sethdrebitko At least Anchor was asynchronous!

I can see Clubhouse being an awesome social outlet if you’re single.

But if you have a family... it can be really disruptive.

(I’ve been trying go on only during work hours)

This is actually a big issue:

Increasingly I’m seeing Clubhouse interfere with my home life.

The combination of FOMO, participating in calls during family time, and the requirement of being on 3-6 hours a day (if you want to build a following) are downsides to social audio. https://twitter.com/jayacunzo/status/1358128996165316608

@jayacunzo This is actually a big issue.

Increasingly I’m seeing Clubhouse interfere with my home life.

The combination of FOMO, going on stage when you’re in “home mode,” and the requirement of being on 3-6 hours a day (if you want to build a following) are downsides to social audio.

@lesley_pizza @arvidkahl Really good episode. 👍

@JamesCridland Yes! I find the experience is better on Spaces.

“I think a podcast’s primary driver is to develop “relationships” with interesting personalities.” – @nbashaw

Another example of this: I’ll often tune into @WTFpod and listen only to the intro monologue.

It’s like me checking in on @marcmaron to see how he’s doing. ☺️

@Aboundlessworld @coreyhainesco @nbashaw I’d argue it’s not the same. 😉

🤯 by the level of feedback @MattGiovanisci just provided me in DMs.

He gave me 10+ specific, actionable steps I could use to make @TransistorFM perform better in Google searches.

(Highly recommend you follow his SEO stuff).

@jonnyburch @TwitterSpaces But, at $10B, that would be the 2nd most expensive acquisition ever for them.

(WhatsApp had 450 million users when they were acquired for $19B)

You should read Nathan's whole piece on podcasting.

It's good. 👍

https://every.to/divinations/a-post-mortem-for-social-podcast-discovery

@typeoneerror @TwitterSpaces Yeah, but all those products were integrated. He didn’t just buy them to to destroy them. He bought them because they were a clear path to acquiring more users, and improve ad revenue.

@spencerfry Noted.

(The $1.2b valuation is correct I believe)

@chrisbrogan @TransistorFM @pjrvs 🥰 the love goes both ways

@ajaypond @TwitterSpaces How can you be so sure when Twitter Spaces is still in beta?

Folks keep saying "Clubhouse could monetize via paid memberships."

Have we seen memberships work at a "$10B valuation" scale?

The biggest player that I can think of is Patreon, and their annual revenues are currently around $35 million (valued at $1.2B).

The scale seems off.

@typeoneerror @TwitterSpaces Which acquisitions has made and done that with?

Haven't they mostly stuck around/been integrated?

@AlexanderHaque Have we seen memberships work at "Facebook-scale?"

(Or even, "$10B purchase price scale?")

The biggest player that I can think of is Patreon, and their annual revenues are currently around $35 million.

@ajaypond @TwitterSpaces Why do you think it's not panning out?

How would you move forward if you were Twitter?

@AlexanderHaque But… if memberships worked in that way, why wouldn’t they apply it to all the creators they have on Insta, FB, WhatsApp?

@ajaypond @TwitterSpaces Twitter is already building a competiting feature (@TwitterSpaces)

@matteing @TwitterSpaces So many cool trendy companies just don’t have enough gas in the tank to last though.

HQ Trivia
Meerkat
Vine

$10B is a lot to spend on a feature that Twitter is building internally, with a small team.

@arthcmr I’m not convinced.

You only truly get a sense of how well monetization will work once it’s in place.

FB could already put all those ideas in place for their existing features (video, events, groups etc) but they haven’t done much there.

They’re still (primarily) an ad biz.

@AlexanderHaque I’m not convinced by those monetization ideas.

You only truly get a sense of how well monetization will work once it’s in place.

FB could put all of those pieces in place for their existing live features (video, etc) but they haven’t done much there.

They’re still an ad biz.

If the ultimate aim is to integrate Clubhouse into Facebook's social graph, it doesn't make sense for them to buy it for $10B (they could build it much cheaper, the same way @TwitterSpaces is).

If FB truly wants to keep Clubhouse separate, is it worth buying "6 million users?"

@jonnyburch If the ultimate aim is to integrate Clubhouse into Facebook's social graph, it doesn't make sense for them to buy it for $10B (they could build it much cheaper, the same way @TwitterSpaces is).

If FB truly wants to keep Clubhouse separate, is it worth buying "6 million users?"

@foundbryan @NicWondering agreed

@AlbumEpitaph Nice! 🙌

“Why do people listen to podcasts? If you ask people, they’ll tell you they want to learn things and be entertained. But if you observe their behavior (and reflect on your own) I think a more primary driver is to develop “relationships” with interesting personalities.” – @nbashaw

I think a $10B valuation is way too high:

- Clubhouse still feels more like a feature that fits on top of an existing graph (Twitter, FB, etc)
- Clubhouse currently has no path to monetization; ads feel difficult here
- It’s fun now (for me too!) but I think the format will wane

@destraynor @emmetgibney Clubhouse feels more like a feature to me. (Like Stories)

Clubhouse doesn’t feel like it should be even close to that kind of acquisition price.

Facebook bought:

Instagram – $1 billion
Oculus – $2 billion
WhatsApp – $19 billion
Giphy – $400 million https://twitter.com/Keith_Wasserman/status/1357697913904717824

@lovevalgeisler @klaviyo Congrats Val! 🎉

@Swizec Wowser

@emmetgibney Yes!

@amorriscode Yeah. I keep meaning to start using an rss reader again.

Newsletters, blogs, podcasts:

the classic internet is back in style.

A mindful, slow pace. Less frenzy.

Feels good.

@adamwathan Hahahahaha.

(From one dad to another, good joke. 👍)

@cgenco OH YEAH. 🙌