Earlier this year, ECC outlined a new product strategy that focuses on user feedback and market research. As part of this strategy, we began surveying visitors to both z.cash and electriccoin.co websites. This will be an ongoing effort, but in this post, we’ll summarize our findings to date.
The power of promoters
We received 1,048 responses across z.cash and electriccoin.co from the beginning of July to the end of September. We asked three questions related to protocol usage (“How often do you use Zcash?”), user type (“What best describes your relationship to Zcash?”) and satisfaction (“How likely are you to recommend Zcash?”).
We were able to segment and compare responses to glean insight into user sentiment with a metric called the Net Promoter Score, or NPS for short. NPS is a common metric used in market research to measure customer loyalty and engagement. NPS is based on a single question, “On a scale of 0 to 10, how likely are you to recommend Zcash to a friend?” To calculate the score, we take the percentage of respondents who answered 9 and 10 (promoters) and subtract the percentage of respondents who answered anything 6 or below (detractors). Any outcome above 0 indicates that there are more people promoting your product than people disparaging your product.
Zcash promoters are critical to growing the ZEC ecosystem. Promoters rave about Zcash to their friends and provide thoughtful and thorough feedback to new features and tools. By surveying site visitors, we can better understand current and potential Zcashers and therefore better serve their needs.
Overall, respondents gave Zcash an NPS score of 15 percent. Here we show respondents by user type, site and NPS score:
Key takeaways:
- Responses on electriccoin.co generated about 10x the NPS score when compared to responses on z.cash. Electriccoin.co receives about a third of the traffic as z.cash.
- Responses from Miners, End Users and Merchants produced a similar NPS score of roughly 20 percent. Developers were least likely to recommend Zcash, and their responses produced an NPS score of -7 percent.
- Almost 43 percent of survey respondents identified as Miners. Miners ensure the security of the network and form a critical part of the Zcash community. Thus far, ECC campaigns to engage miners have proved challenging.
We also looked at NPS by usage and country. Frequent users effected an NPS score of 43, while infrequent users produced a score of 1. Interestingly, among the people who had never used Zcash, there were 56 promoters (people who are very likely to recommend Zcash to their friends). US, Brazil and Germany produced the highest NPS scores, while Canada and Russia produced the lowest.
Informing our strategy
In the near future, ECC will release a product roadmap informed, in part, by these responses, as well as other data points such as additional ECC surveys, coin-holder polls, and recommendations from the Scientific Advisory Group.
