The RavingFans® SDK .
Test Your RavingFans® Ranking
The Underlying Assumption? Once a critical mass of users develops an ‘irrational’ relationship with a product or service, they are moving from the general market to a “no competition zone”. In other words, once users enter a RavingFans® state of mind, it is extremely hard to get them to switch products.
Still have some questions? See our FAQs section below.
- Why an SDK?
We developed this SDK after meeting with over a hundred startups that simply didn't have the data we needed for analysis.
Google Analytics, AppAnnie, Flurry, SimilarWeb and other ventures didn't collect this data either. Most data collection companies work with aggregated data (total number of downloads, average sessions time, etc) which we find of little value and devoid of meaningful context.
We hope that one day they will - as it will make our life much easier.
In the meantime, installing the SDK provides us most of the data that we need to make an investment decision.
- Privacy concerns
The SDK is collecting the following data
1. Name of the app - so we'll know which app this data belongs to
2. Unique user ID - each user is given a specific identifier, so we can analyse behavior patterns. This user ID is unique to us and is not correlated with any other user identification and/or device ID
We do not extract or otherwise save personal information. It has no value toRavingFans® model.
3. Begin \ End of session - that's the info we're interested in. So, for example, we can answer queries like
"what percentage of the app's daily active users use the app more than 3 times a day?"
- What kind of companies could be tested?
TheRavingFans® model is suitable for habit forming products and services. They can also be of a B2B nature.
The main point: we're looking for products that become an integral part of users' lifestyle, to a degree that they "cannot live" with out them.
Currently, the SDK is suitable for mobile apps. If your product or service doesn't really fit, but you still want to talk to us and test your product, you may contact us at IamIntriguedBy@RavingFans.vc. We will do our best to get back to you as soon as we can.
- How does it work?
The data extracted is sent to our server in the cloud and automatically analyzed by the model.
We're looking for 3 things:
- The existence of a critical mass of Raving Fans
- Continuous growth of this group
- Higher than category average Raving Fans retention rates
We can give a definite "no" within 14 days and a definite "yes" within 90 days.
The 90 days is a satisfactory time frame for us to be satisfied with sections 2 and 3 (growth and retention). Once we're through with the test you may uninstall the SDK - but you may also keep it, in case user patterns change.
- If I receive a negative answer, what does it say about my venture?
The RavingFans® model is looking for products and services that cause their users to show patterns of addictive, obsessive or compulsive behavior. We believe this is the way to identify phenomenal companies. However, it may be the case that a venture is not phenomenal, but still extremely successful. So, even if you receive a negative answer, it doesn't mean that your product / service is below average (most of the ventures we test have good products and great teams) - it simply says that it doesn't generate "irrational" patterns of behaviors.
- Are the results confidential?
All of your dealing with Follow[the]Seed, including all of the information that you send us either via SDK, mail or otherwise, will not be published or transferred to a third party without your knowledge or consent.
We expect you to have same level of confidentiality with respect to our mutual communications in the future.
- What does it give me?
We invest up to $2M in startups with a high RavingFans® score.
So if you pass the RavingFans® analysis in flying colors you will potentially have:
1. Additional funding for making your dream venture reach its potential.
2. Knowledge that you are currently building a phenomenal product or service.