Attrition's Ugly Cousin
Like you guys know by now, I've been building online businesses for decades. And one of the biggest head scratchers I've seen over the years is what I want to talk about tonight.
Attrition is a real thing. Ask any online entrepreneur and they will tell you that people come and go, all the time in this business. It's something we deal with consistently, and as many people come into our websites and communities, people leave just as fast.
But this 'head scratcher' isn't even about attrition. Because at the end of the day, we accept it. We may not like it, but we understand that attrition is just part of the DNA of online businesses.
What blows my mind is how many people join things and then do absolutely NOTHING afterwards.
Let me explain....
We built this little funnel program called StartEarning.Today
It's a slick little program that introduces people to different ways of earning small bits of crypto for doing things they may already be doing. Of course, Hive is front and center in this funnel.
Today I sent out an email to promote Start Earning Today to our lists and decided to take a look at some of the numbers.
Start Earning Today has thousands of members that have joined. It doesn't cost a dime to do so, which may be the reason why so many people don't follow through with the platform.
But still, I like to think it's valuable and gives people a quick way to dive into the world of crypto and blockchains.
One of the programs we recommend inside of it is PreSearch, a blockchain based search engine. We teach people to use this rather than Google and get rewarded for doing so.
Here's where things get interesting....
We again, have thousands of members inside of Start Earning Today, and of those thousands about 800 have followed through and actually joined PreSearch.
Of those 800, about 70 have actually confirmed their accounts and are actively using the platform.
Crazy to me. And one of the biggest head scratcher of my career in online business.
The question is....Why even join something if you never follow through with doing the work?
This literally guarantees failure before you have even started to build a single business! Now look, I'm not saying what we teach is rocket science. And heck, people may even think we suck at showing people crypto. But this goes way beyond our programs...
Even here on the blockchain, we have millions of accounts on Hive...Why do we only have a few thousand active users every day?
What happened to all the people raving about $LEO Threads when the challenges were taking place?
People literally, join things just to say they did and then poof....Seem to vanish.
Is this attrition? Or something else?
Are people just lazy? Looking for a free ride?
I just cannot figure this out, for the life of me. So if you have any ideas or thoughts on how we get more people active and remain active in all online endeavors....I'm all ears.
Until then, I'll try to live by example!
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I don't think there is any easy way. Attrition sucks and there isn't any way to force people to stay. The best thing we can do is encourage others to keep on encouraging them to stick around.
I think it's a bunch of factors, excitement, attractiveness of the project, a vibrant passionate community...But even with all that, people come and go.
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Normally I'm not critical but today I'm going to be, I hope you'll forgive me.
The reason why people sign up for something and then don't use it is simple. One thing is promised and then it is not fulfilled.
I will give you my last case. I registered with a bank with all the paperwork that this entails to hire a service that was very beneficial for me. Once inside, the reality is that the product was very beneficial for the bank. Of course I have not used it, I am one of those thousands who have signed up and have not done anything.
In summary "Lies and advertising coexist in an thin line"
Oh absolutely! I think overall, that has hurt because people are promised the world only to see nothing from their efforts. But a big chunk of the time, people dont even do step one to know what they are missing out on.
I think life also catches by and people eventually give up. I don't blame a lot of people as i realized its not easy to keep up with the system and also not sure how that would bring them reduced in the count numbers. Leothreads has that problem too. But I suppose we just have to focus on who stays :)
That's my thinking too, always focus on the people that do stick around and continue to add value.
Attrition is more of a wearing down feeling after being a member for some time. These folks would be different than the folks kicking tires, having a look and see, joining cause of a friend invite, looking for something that is totally free. If you have to complete a task to get something then it is not totally free. Some folks may complete some steps of a procedure/process presented and then a step causes a lack of interest. For example, I checked out Start Earning Today and when I came to Free Bitcoin, step 1, I became less interested. My feeling was that even if I joined for free I would have to give up some time in my existing routine. Which means evaluating which task is more beneficial. My current task or a new task.
Step 2 was using Brave browser. This is another learning curve and requires changing once again our existing daily routine. I downloaded the browser and explored the idea of earning BAT and I could not see much return for my time. I don't care for twitter, now called X so that step didn't generate excitement for the next step.
Step 3 - Onboaring Hive was a great step for me cause it was easy to see that you get rewarded for publishing content and for many more reason relating to managing and sharing content. Plus your sharing of the huge amount of reward you earned for your content was motivation to explore some more.
Step 4 - PreSearch for me was not attractive enough for me to change my existing searching habit.
Step 5 - Joining ClickTrackProfit means additional learning and once again, requires a change to existing activities. New committments.
Step 6 - Joining PI Network and mining a coin that does not have history would be a speculative activity. Means more time away from existing routine.
It takes a lot of measuring to get to know people who join a site/program. You obviously know this cause you have been at it much longer than I. You have a huge fanbase so you naturally get more signups than the average person getting started. For this reason alone you would expect a higher number of dropouts. It's statistics at play. So you have to put measures in place to see which step is working well and which is not helping you achieve what it is you want to achieve.
As per failure. Well there are two sides to every coin. One losing interest in trying something new is not necessarily failure from the visitor point of view as much as failure to convert from the provider point of view.
As per Hive accounts, I have 7 accounts, I think. The Hive community is very interesting to me cause it has excellent technology usage to leverage a business into a web3 mindset but most people struggled with understanding fundamentals of business in the web2 world.
They moved on to the next promotion. Or, they were oversold, lost interest and reverted back to their usual routine. We are all creatures of habits and vulnearable to addictions. It's a matter of finding the best addiction to share.
When I compare the learning behaviour of the 70s to today, the leveraging of technological changes, the increase in world population and the unlimited connectibility, it all points to a more reactive world with less proactive behaviours. The majority of people interacting online are hanging out on the outside of an onion. Those on the outside of the onion make more noise and seldom have time to dig deeper cause, well they are already busy or caught up into a not so good habit or addiction.
From a business point of view, you have to decide if you target the masses or pinpoint your target interest. So a strategy has to be refined for the desired outcome. From the very beginning of my Project ePaytraffic journey, I had no interest in serving the masses. I still don't because I am building a framework that will eventually allow me to better serve a larger membership count. Measuring a member response to 15 second viewing time for an advertisement is one way to refine focus and boost conversion rate.
Your not alone. I can't figure out why I am not getting more hivers to buy PEPT traffic exchange community tokens. Seems like a no-brainer to me. However, it means I have to refine my P-D-C-A cycle once again.
Thanks for a thought provoking post.
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It's a constant battle for sure, and how you laid it out, for sure there are some learning curves...My concern is that most don't even look at step 1 and try to learn new things at all. Most sign up, and do nothing lol
I know what you mean about most and that is just part of today's reality. So we focus on the ones that make it to the second step and maybe provide more hand holding to continue the journey.
Have a good one Jon