This is edition 12 of Overdraft. Sign up here to get this in your inbox early.
House keeping note: I have switched from Tinyletter to Substack and I imported everyone in. If you are seeing any issues with this letter, please let me know. It’s meant for paid newsletter and publishing but I have no plans on putting this behind a paywall (yet) >:)
If you have been on Twitter this weekend, you might have noticed some interesting conversations happening.
I think they were two distinct events but both centered around Drift – the live chat tool that recently raised 60 million from notable folks. It was subject of some questions by folks like Pete from Databox and Dharmesh from Hubspot.
It’s interesting to note that Hubspot was the previous employer of the Drift co-founders and Pete (CEO of Databox).
What exactly happened? Here are the tweets:
When two competitors chat on Twitter about how their market is not a zero sum game and they should focus on the customer and just solve problems.
(PS - then they go back to making their competitive battle cards to sell against each other.)
See Mike Volpe's other Tweets
What Mike (ex CMO of Hubspot) is referring to is a brief spar between Dharmesh and Elias (CTO at Drift) – someone from Drift tweeted about ‘haters gonna hate’ or something along the lines to which Elias brought up a ‘winners take all methodology’.
Politely disagree. Most markets are not zero-sum games, they're positive-sum games. Lots of potential customer value to be created. Customers don't want "winner takes all". They want many people working to help solve their problems. #CustomerFirst
Replying to @jeffreybramhall and 2 others
There's only one race. Only one Numero Uno. Winner takes it all. We are not going to fake friendships. Transparency. Focus on the customer. Death to #CustomerFriction
21 people are talking about this
I am with Hubspot on this one. There’s a LOT of marketing automation tools out there. Each serves a customer and solves a problem, business has never been a winner take all market because there are niches and edge cases you can’t solve for. Otherwise, you risk your product becoming bloated monsters of features that don’t make any sense. Hubspot was the previous employer for a lot of Drift folks and Hubspot has recently been rolling out a ‘conversations’ tool aka live chat for your site. So the whole product competition angle made this all the more interesting.
If you’ve been following Drift they’ve been pretty loud and proud about how live chat converts better then forms.
Pete CEO @Databox has been running some content programs where they do a survey of practitioners and publish their findings. One of their more recent ones is around ‘Do forms actually underperform compared to live chat’ – to be clear there’s a lot of live chat platform out there, from Olark to Zendesk and of course Intercom (which does more than just chat though).
Forms vs live chat -- which gets you better/more leads? https://www.surveymonkey.com/r/Forms_vs_WebsiteChat …
Responses are pouring in & so far, forms are crushing live chat.
Where are all the live chat 'conversational marketing' converts to tell us what's up?
cc: @handythinks @WebInbound @davegerhardt
15 people are talking about this
Pete tweeted that the early results of the survey indicated forms actually perform better – not entirely surprising, different use cases perhaps (a longer essay for another time) which kicked off an interesting twitter thread:
Lots of comments. Some questioning the survey methodology, others wondering when does chat actually perform better?My take: if your ‘bot’ is going to have 5 options for me to pick from, just use a form. Chat isn’t about bots (which aren’t actually bots) it should be about conversations. While we’re on the subject – lets not call marketing tech run on decision trees and if/else statements – AI.
Because it leads to situations like this:
Wow, that chatbot gave up quickly!
See Rob Sobers's other Tweets
All for today. I am trying to be more regular on this newsletter. If you (other then my dad who replies to every single one) enjoyed this let me know.