More users on the network means more value to the Hey community. Indeed, we need to reach a critical mass of users for the network to be beneficial, which is why we'll focus most of our effort on acquiring, engaging, and retaining users.
Bowling Pin Strategy
Focus is everything. Many startups have failed not for lack of money, human captial, or know-how, but rather because they lacked a laser-focused strategy.
On the basis thereof, we have decided to adopt the Bowling Pin Strategy. The term, coined by Geoffrey Moore, is used to describe a specific way of tackling the chicken-and-egg problem. It contends that businesses should find a niche audience that shares similar interests, then grow that audience segment by segment.
This is what Facebook did. It started at Harvard, then extended the network step by step. Yelp did the same, establishing itself in San Francisco before expanding to other cities
With Hey, we will employ the same approach, with our first focus being to onboard the cryptocurrency community. Once we have a broad enough user base there, we'll move on to the gaming community. This expansion pattern will continue, as we move to increase market reach segment by segment.
Hey's reward and referral system is one of its cardinal strengths and serves as our principal engagement tool. Here’s how it works:
Each time someone likes or comments on a posts, resolves an issue, or invites a friend to join the platform, they get rewarded with impact points. Every day, the user will receive a number of HEY tokens proportional to their engagement, all of which hold a legitimate tradable value.
This system encourages users to participate in discussions by rewarding content creators from the start.
Still, engagement isn’t the only way users can be rewarded on the platform. We also offer tokens to users whose friends have downloaded the Hey extension or widget (see Appendix 1).
To engage our first users, we will create daily content with the help of our beta testers. On pages where there is not yet content, Hey will offer users redirection to similar pages where activity already exists.
Our user’s experience is of the utmost importance to us. We are committed to respecting their privacy and promoting only high-value, relevant information.
Our vision of advertising on the Hey network is very far from pop-ups and interruptive ads. On the contrary, in fact: sponsored content appears as non-disruptive ads in your user feed, always accompanied by a “sponsored” label to ensure maximum transparency.
The content you publish on the extension is made automatically indexable by search engines. This way, content posted on a website via the Hey extension will boost Search Engine Optimization (SEO) for both Hey and the associated site. Concretely, this means that if users are very active in the Hey extension on a particular page, it will help the associated page improve its search engine ranking.
We want users to have a smooth, seamless experience using Hey. The app is designed to be user-friendly, simple, and straightforward. The onboarding process works like this:
You install the extension in one click. It’s immediately added to your browser (Chrome, Safari, or Firefox), where you can begin interacting with peers right away. Hey’s icon is also easy to drag and drop around the screen and disappears when you aren’t active, so it should never disrupt online activity (e.g. reading an article, watching a film, etc.).
As Hey’s internal team works via a trial and error process, we are constantly gathering feedback from beta testers to improve the user experience and adhere to best standards and practices. The goal is for Hey to be fun and frictionless.