the five mind-myths of the micro-mobile studio
DESCRIPTION
Who said Year One was easy? This isn't just any post-mortem, it's a survival guide. Come join 4gency's founder as he outlines one vision, two games, twelve months and $25,000 nobody will ever see again. Learn the five dangerous myths that nearly sunk a new mobile games studio, and walk away with a map of landmines you can avoid on your way to fame and fortune. Delivered at Casual Connect USA, July 2013.TRANSCRIPT
The Five Mind-Myths of the Micro-Mobile Studio
Charles CoxFounder/CEO, 4gency
2
Who is this guy?
• “Weekend warrior” mobile devs, 2 teams of four people• $25k initial investment, 1.5 years in operation• 2 games, 75k users, 4 platforms, 3 revenue models
Mobile + Tablet Games
Why is he here?
Alternate Titles for this Presentation:
“How Not to Spend Your First $25,000”
“The Incredible Shrinking Revenue Share”
“I Screwed Up But You Don’t Have To”
“$1 Wines for CEOs on a Budget”
3
Why is he here? (continued)
I’m here to share my experiences.
If you’re just getting started…
or if you’re near launching…
or if you’ve had a few scrapes too…
I’m with you.
Let’s see how we can do better together.
4
4gency’s first year: hopes & harsh realities
5
OMG a profitable month!
Node.Hack Released Armored Drive Released
The Five Mind-Myths that nearly sunk us
1. We’ll chase the market
2. Forget marketing, it’ll sell itself
3. Our game will totally go viral
4. Ignore that metric, it’s lying to you
5. One more title and we’ll get a hit
6
7
“The tablet market is super hot, you guys.”
– Actual CEO quote
Myth #1: We’ll chase “the market”
• No such thing!• Micro-markets!• Do you know yours?
– What do they like?– What do they hate?– What do they spend?– Where do they find new
games?
• Room for innovation– Lead your market from
something they know to something they will like
• Talk to them early!
8
Our genres. Whoops.
Could have used
this about a year
earlier, thanks
“The tablet market is super hot, you guys.” – Actual CEO quote
9
“Nah, I’d rather put my money in R&D.”
– Actual CEO quote
Myth #2: Forget marketing, it’ll sell itself
• You can’t have a product without development.
• You can’t have a successful product without marketing dollars.
• Better R&D wouldn’t have pushed the arrow further up the curve.
• Why didn’t we answer this question: how are people going to find us?
10
“Nah, I’d rather put money in R&D.” – Actual CEO quote
Where we ended up
11
“They’ll hit the Share button. A lot.”
– Actual CEO quote
Myth #3: Our game will totally go viral
Users are not an acquisition strategy.
12
“They’ll hit the Share button. A lot.” – Actual CEO quote
Yeah, that’s like 2%
This doesn’t mean
“share button”
1%
1%
1%
1%
13
“IAP % can’t be that low. The metrics are wrong.”
– Actual CEO quote
Myth #4: Ignore that metric, it’s lying
14
“IAP% can’t be that low. The metrics are wrong.” – Actual CEO quote
Pre-Release Test (Canada) Global Metrics Post-Release
Forget statistical significance –
zero is still zero Gee whiz, think you could have
predicted that?
• CEOs may need a reality reminder from time to time.• Numbers usually work, but sometimes…• If in doubt, keep testing.
15
“We learned a lot. This next one will be big.”
– Actual CEO quote
Myth #5: One more title and we’ll get a hit
• There’s a reason investors want to see recurring revenue.
• Keep asking: where will your loyal user base come from?
• Virality from title-to-title is even less than on a single title.
• How will your games influence and lead into one another?
16
“We’ve learned a lot. This next one will be big.” – Actual CEO quote
How is this going to pay the bills?
All together now: the Five Mind-Myths
1. We’ll chase the market
2. Forget marketing, it’ll sell itself
3. Our game will totally go viral
4. Ignore that metric, it’s lying to you
5. One more title and we’ll get a hit
17
Did anything go right?
• We’re still here, aren’t we?• 75k users, good ratings on App Stores• Pocket Gamer Silver Medal for Node.Hack• Valuable post-mortems on http://4gency.com• Fodder for portfolios and resumes• A commitment to risk harder and smarter
In all…$25,000 = one damn good education.
18
The “Anti-Myths”: how to get it right
1. Find your niche and serve it
2. Have dedicated marketing budget
3. Acquire, acquire, acquire users
4. Test, verify, and trust your metrics
5. Think beyond each title
19
Thank You!
20
We’d love to hear from you!
Visit us and Node.Hack at the Indie Showcase
Charles CoxFounder/CEO, [email protected]
Mobile + Tablet Games