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How I Gained 5M Users In Just 7 Months | OpusClip, Young Zhao
@ EO
09/21/24
Takeaways
YZ
Young Zhao
09/21/24
@ EO
After three months of launching OpusClip, we only gathered about 200 users, but within seven months, we reached 5 million user signups and nearly 10 million in annual recurring revenue.
YZ
Young Zhao
09/21/24
@ EO
Users expressed a strong desire to pay for premium features like higher resolution and more downloads, indicating a shift from initial interest to willingness to invest in the product.
YZ
Young Zhao
09/21/24
@ EO
If a product doesn't help users save time or make money, they may see it as just a cool product rather than a valuable business tool.
YZ
Young Zhao
09/21/24
@ EO
OpusClip transforms long-form video footage into engaging short clips with just one click, saving over 99% of time and resources needed for social video production.
YZ
Young Zhao
09/21/24
@ EO
Many creators are introverts who struggle to socialize in person, leading them to seek alternative ways to connect, such as through social apps.
YZ
Young Zhao
09/21/24
@ EO
I co-founded a social app called Sober, aimed at helping people socialize after drinking, but it failed shortly after Snapchat launched, which had a similar concept.
YZ
Young Zhao
09/21/24
@ EO
Entrepreneurs often start by addressing their own needs and then expand their solutions to help others, driven by a desire to make a positive impact on society.
YZ
Young Zhao
09/21/24
@ EO
In 2015, I went to China with friends from Silicon Valley to explore business models, but our attempt to adapt a successful US model for local restaurants didn't succeed due to differing ecosystems.
YZ
Young Zhao
09/21/24
@ EO
I established a talent agency focused on food reviews shortly after TikTok's launch, recognizing the potential of short videos in marketing.
YZ
Young Zhao
09/21/24
@ EO
After four years running the agency, I noticed top talents leaving to become solopreneurs, preferring to create content for themselves rather than for businesses.
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Young Zhao
09/21/24
@ EO
Instead of managing creatives directly, I decided to develop an AI-powered product to empower creators and automate content creation, alleviating their pain points.
YZ
Young Zhao
09/21/24
@ EO
Successful entrepreneurs often possess a sense of altruism, seeking to help others and derive spiritual benefits rather than just commercial gains.
YZ
Young Zhao
09/21/24
@ EO
The first product idea was an AI-powered live streaming tool, developed during the pandemic when everyone was working from home and consuming live content.
YZ
Young Zhao
09/21/24
@ EO
After launching the live streaming product, we realized it didn't address any real pain points, resulting in only 200 users after three months.
YZ
Young Zhao
09/21/24
@ EO
The only feature that resonated with users was the clipping feature, which allowed them to repurpose content from live streams for distribution.
YZ
Young Zhao
09/21/24
@ EO
We decided to turn the clipping feature into a standalone product, which led to tens of thousands of users signing up for OpusClip within two weeks.
YZ
Young Zhao
09/21/24
@ EO
By the end of 2023, OpusClip achieved nearly 10 million ARR and 5 million user sign-ups, just seven months after launch.
YZ
Young Zhao
09/21/24
@ EO
Real product-market fit is indicated by users who are willing to pay for the product, unlike the initial users of Opus Studio who showed no commitment to pay.
YZ
Young Zhao
09/21/24
@ EO
Users expressed a strong desire to pay for features like higher resolution and more downloads, indicating they found value in OpusClip.
YZ
Young Zhao
09/21/24
@ EO
If a product doesn't save time or help users make money, they may view it as just a cool product rather than a necessary tool.
YZ
Young Zhao
09/21/24
@ EO
In the AI era, many teams excel in technology but struggle with achieving product-market fit, often overlooking what users truly want.
YZ
Young Zhao
09/21/24
@ EO
It's crucial to start with user needs and continuously engage with them to ensure your technology is the best solution for their problems.
YZ
Young Zhao
09/21/24
@ EO
Managing user expectations is challenging, especially when AI delivers results that may not fully meet their needs, necessitating manual features to enhance user experience.
YZ
Young Zhao
09/21/24
@ EO
When AI can only deliver 80% of the solution, it's essential to ensure that the remaining 20% is effectively handled by human intervention.
YZ
Young Zhao
09/21/24
@ EO
At OpusClip, we launch a new feature every week, which is part of our culture and aligns with current trends.
YZ
Young Zhao
09/21/24
@ EO
Users appreciate OpusClip not just for its current offerings, but for our rapid feature releases that keep pace with market demands.
YZ
Young Zhao
09/21/24
@ EO
When launching an AI product, it's crucial to experiment extensively first, as AI results can be unpredictable and exceed expectations.
YZ
Young Zhao
09/21/24
@ EO
Many AI products start in a lab or beta phase, and only after stabilizing and reducing costs do they become core offerings.
YZ
Young Zhao
09/21/24
@ EO
Instead of spending too much time on building an AI core product, launch smaller experiments to gather early user feedback before full integration.
YZ
Young Zhao
09/21/24
@ EO
User feedback for our product comes not only from direct interactions but also from analyzing social media engagement metrics like views and shares, which provide ten to a hundred times more insights than direct feedback.
YZ
Young Zhao
09/21/24
@ EO
We aim to enable anyone to create content without the hassle of video editing, allowing them to focus on their ideas while OpusClip handles the tedious tasks.
YZ
Young Zhao
09/21/24
@ EO
The video production process consists of three major stages: pre-production (topic selection and script writing), production (filming and media preparation), and post-production (editing and sequencing).
YZ
Young Zhao
09/21/24
@ EO
AI technology has evolved to enhance the overall story and narration in video production, rather than just focusing on specific scenes or frames.
YZ
Young Zhao
09/21/24
@ EO
Advancements in generative AI allow creators to generate footage from minimal input, automating much of the content creation process.
YZ
Young Zhao
09/21/24
@ EO
With AI advancements, creators are shifting from content creation to focusing on creativity, allowing them to spend more time on innovative ideas.
YZ
Young Zhao
09/21/24
@ EO
In the AI era, authenticity and genuineness will become rare, as it's easy to produce fabricated content with AI. My advice is to remain true to yourself and be real.
YZ
Young Zhao
09/21/24
@ EO
As AI-generated content becomes ubiquitous, being authentic and genuine will be key to standing out and fostering creativity.