In the first year of existence, a start-up’s goals are somewhat simple:
One, to confirm its enduring purpose and break it up into smaller problems that can be solved one step at a time across content, tech and user-experience. And two, conduct enough small experiments to know what the company might look like 5 years from now. We have certainly tried to do both and learnt a lot from it.
While we haven’t finished a year of the app experience (the app launched in April), December 2016 inevitably is about taking stock.
There are certainly many qualitative moments in the Juggernaut year that will stand out for us (emails from consumers telling us how much they like us, celebrating together or our investors appreciating what we’ve done), but the report card has to be less anecdote and more numbers.
So here they are — the four numbers that defined our digital launch in 2016. These numbers define the stages of our funnel, from intent to purchase.
1. Number of installs: When a user installs an app from the app stores (iOS or Play Store), it is a deeper commitment than visiting a website. An app is something you see everyday on your smartphone that also uses space on your personal device, as against a browser visit that is significantly more shallow.
Currently, we are operational on three platforms — iOS, Android (8 months) and browsers (30 days). Across these platforms, we have 400k+ app installs and 166k browser users. A good start, but we hope to finish the year (April 2017) closer to a million.
2. Number of registered users: This decisively moves the user up the brand chain; post-installation and launching the app or visiting the web presence, the user has now clearly signalled intent, giving the brand some personal information. Defined by the number of users who have signed-on and have therefore become addressable via email even if they haven’t bought a book; 61% of our users have registered on our app.
3. Added to Cart: After reading a sample of the book or looking at the information on the book detail page, the reader has now decided to give reading a book on the app a chance. This is the stage where the user is ours to lose. Since our inception, 180,000 books have been ‘added to cart’, which, within our ecosystem, translates to a ‘reading mode’. A user has to add a book to shelf to be able to read it. Of these, more than 50% users have bought at least two books (We like this number a lot!).
4. 30 books that breached the 1000 downloads mark
Of these 30, the top 5 books have crossed the 3k mark, while 2 books have crossed the 5k mark. Again, a good start when compared to traditional publishing numbers, but we hope to double these numbers in the next six months.
We learnt some very valuable lessons along the way:
- Most readers respond to categories, not individual titles
- Digital readers have very wide and surprising tastes for different mind-sets. A person who reads serious non-fiction also likes rom-coms or picture books
- Books priced under INR 60 have the greatest chance of being read.
Finally, dear blog reader, if you haven’t read a book on the Juggernaut platform, please DO. Not only because we’ve made the @juggernautbooks experience so easy, but also because it’s important to get educated, inspired and find new ways of articulation. It’s made us all better. If that’s not inspiring enough, it’s the one thing a lot of smart and ridiculously successful people have in common: the habit of reading.