Users try out a lot of apps but decide which ones they want to ‘stop using’ within the first 3-7 days. For ‘decent’ apps, the majority of users retained for 7 days stick around much longer. The key to success is to get the users hooked during that critical first 3-7 day period.
One of the main challenges in asking if your idea is “good” or “bad” is that there are a lot of outside influences that go into determining feasibility, and a lot of them don’t have anything to do with the idea itself. One of those is the market category, and some market categories are much more attractive than others. Online dating is one of the hardest categories to compete in, and this article outlines exactly why.
Here’s a simple fact: It’s super hard to get a dating product funded by mainstream Silicon Valley investors, even though it’s a favorite startup category from 20-something entrepreneurs
The key here is churn – once a user successfully finds a date, they stop using your dating service! Continue reading Why Investors Don’t Fund Dating