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Ship on Farcaster, and talk to users.
(A Story)
1. Background
Last week we rolled out Bracky's "Reply-Guy" mode. Basically, until last week Bracky would only respond if you @ or reply to him. This mode allowed Bracky to reach out "cold" to anyone talking about a prediction market he's running, right when they mention it.
2. The Challenge
As you can see from Six's cast below, the big risk with cold outreach from a bot or agent is that it's super annoying. While this is the downside, the exciting potential is that we can take people from "zero-to-bet" instantly, and without anyone from our team even interacting with them. That's a scalable growth strategy if it works.
3. MVP Version
The first version of Reply Guy we shipped was getting about 10% Transaction Tate. Much lower than we were hoping. But I noticed that the Like Rate was about 5x higher. I wondered: "Why are people liking the message, but not taking action?"
4. User Feedback
I spent a week DC'ing a bunch of people who were getting messages from Bracky, but not responding. About 70% of FC users got back to me and gave me feedback. I workshopped with people "Would you bet if it was this message?" "Would you bet if it was that message?" etc.
5. Iterated versions
After a couple iterations, we landed on a version that was getting ~50% transaction rate. This means, we are bringing in about half of the new sports fans that we reached out to cold were becoming Bracky users. That's the kind of signal we're looking for before expanding to X. (We know people there are less experimental and positive, but if we can do even half the rate we found on Farcaster, we should have a meaningful growth strategy.)
6. Lesson
Farcaster's superpower is its awesome users. But it's not just that they are friendly, curious, and experimental. It's that they are willing to spend time helping you if you ask.
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