Trade Ideas’ Missed Opportunity | Kyle Vallans
Though Trade Ideas is a product that the majority of successful traders need, the problem is they target the wrong user. Their marketing goes after the newer and/or inconsistent trader, and as a result, they have a real churn problem, have had to make mass layoffs, and continue to focus on the wrong thing—building new products instead of solving the core issue, which is retention (better support/documentation) and enterprise sales (to firms, funds, brokerages, etc.). It sucks to see it.
The core product is incredible, though all of the features they have worked on over the last few years are totally unnecessary and have taken the team away from focusing on what matters most: lowering churn and getting enterprise customers (in this space, I use enterprise customers as firms, funds, and brokerages). They also attract the wrong users by spamming affiliate links, which is another issue they have. It seems with Trade Ideas due to the poor documentation, half of the time, people don't even know what they are signing up for... and when they do, they are so overwhelmed that they just cancel and reach out for a refund right away!
