11/01/2019

FunFair CCO Stefan Kovach hosted a live Q&A on the FunFair Discord to follow-up on his blog post reviewing 2018 and looking ahead to what’s set to be an exciting 2019. Here’s the highlights…


DWR1: Streamlining the onboarding journey is apparently the #1 focus for most of the FunFair team, that now numbers around 50 people. Best practice is to make iterative changes quickly so that you can learn what works, what doesn?t, etc. – yet nothing has visibly changed since the introduction of AirSwap. What is your approach to trying out different improvements to the onboarding journey so that you can learn if it actually DOES improve conversion and when should we expect to see some updates?

 

FunFair-Stefan: As you rightly say the onboarding journey is our key priority for Q1 and probably into Q2 as well. We are facing some big ticket items with the onboarding journey that are not quick or simple fixes including the KYC and wallet the former requires third parties and the later is not being done well by anyone in the space so at this stage it is not a matter of tweaking and iterating per se. Although we are also working on the UI and UX where iteration and tweaking is more appropriate.

 

DWR: To streamline an onboarding journey, (in my opinion) best practice is to watch / record new users go through the current process while talking out loud about their experience (questions, frustrations, uncertainties, etc.) – such as starting a new cohort of 10-15 new users after each iteration / week / fortnight etc – are you taking this approach?  

 

FunFair-Stefan: In terms of how we are learning from our users interactions with our product we have pretty sophisticated tracking through the funnel and it is clear where the drop off points are at this stage. Further down the line when we have the bigger ticket items in place we will look at the more nuanced behaviours through other means in order to make more subtle improvements to the funnel. Overall we are confident that we have prioritised the funnel fixes correctly and will see significant gains in conversion as a result of them being implemented.

 

DWR: Many members of the FunFair and CasinoFair communities are very interested in doing whatever we can to help FF/CF succeed by providing feedback, etc. All the feedback thus far (posted in #showcase-feedback, CasinoFair telegram, etc.) does not seem to have made much difference in the actual product / platform other than vague statements about it being passed on to the appropriate people? What is the best way for community members to actually engage with the team to assist with meaningful improvements to the platform and truly be helpful?

 

FunFair-Stefan: I will have to look into this but as far as I am aware we do review the feedback channel regularly and consider any suggestions that we consider to be useful. We certainly value feedback but you have to keep in mind we have a significant product backlog that we are working through many of which are not necessarily visible to the consumer or you, on top of which ideas out of context of the wider strategy often are not appropriate for us to just pick up and action even if they are good ideas. I will give this some more thought though as I think there may be better ways to involve the community.



bct: The gambler’s psychology says that a gambler/player wants to go to a casino the easy way and start playing. He is looking for an easy and fast way to the table and wants fast results to wager again and again. Does FF have this in mind and trying to deliver this?

 

FunFair-Stefan: We are very aware gamblers behaviours and preferences and totally appreciate that ease of use and the speed to which they can start playing is important. This is in fact true for any consumer really.

This is why we are working on the funnel improvements and hope to significantly improve the time to get a player from banner to game but as mentioned in my blog in an immature ecosystem where you are dependent on many others this is not always easy. It was one of the main themes that came out of DevCon last year.

We will have an added advantage in this regards when we have a number of brands running and have improved our KYC process in that a consumer need only complete FunPass once before they will be able to seamlessly play on any FunFair powered casino! This will be unique to us.

 

low-pan: In Funfair’s experience, how well are other non-tech industries reacting to the rise and growth of Blockchain companies?  It’s one thing to have technology centric employees that are willing to push the bleeding edge and expect {read: need} to conquer this new frontier, but have you found it discouraging or frustrating that the legal/finance/insurance industries are not nimble enough to acknowledge, understand and assist with the growth of blockchain as an industry?  In other words, are you having to force their old processes into adapting or are they becoming forward thinking enough to anticipate what’s needed and get in front of it?

 

FunFair-Stefan: The blockchain industry is still very much in its infancy and there is much misconception around what the technology is let alone what companies like our own are doing and are able to deliver in terms of new paradigms. It is therefore I guess no surprise that outsiders are slow to react or adapt to our needs. This is particularly acute when you are in a heavily regulated industry like gambling where regulators, banks and all sort of infrastructure suppliers are important to you being able to do business. We are beginning to see some changes for the better especially with more forward thinking regulators but the pace of change is slow but we expect/hope this will pick up over time.

 

dwr: The current size of the FunFair team is apparently around 50. It seems like it would take quite a bit fewer than this to iron out the onboarding issues and ensuring that there actually is a scalable, repeatable business that can then be grown. Wouldn’t it be better to rightsize the team for the current tasks at hand in order to preserve cash and extend runway – thus ensuring that once the scalability issues have been addressed there is enough dry powder left to be able to execute on the bigger opportunity?

 

FunFair-Stefan: As I said in my blog, I am very proud of the team and what they have and are continuing to achieve – we have a stellar group of blockchain and gambling experts.  I also mentioned we will not be continuing to expand the team at least for now. This decision has been made on a number of factors including runway, product progress and what we believe take up will be over the coming 12-24 months.