Hello Money Reddit
If you visit /r/investing, /r/personalfinance, or /r/portfolios subreddits, you’ll notice Redditors are discussing their finances and portfolios using Hello Money links. We’re quite happy to see that.
In fact, moderators of the /r/portfolios have taken notice. After a few iterations to apply moderator feedback into the product, we were taken by surprise to find out that Hello Money has become a part of the sidebar — a sort of “start here” notice for new members.
This means using Hello Money is now a recommended way of having productive investing discussions for this group of people. Yay!
Ask Me Anything
We also had the honor to host the first-ever AMA event for the /r/portfolios. For those not familiar with the term, AMA stands for “Ask Me Anything,” a Reddit tradition where any users can ask any questions to a host. The host can be a celebrity like President Obama, or a regular person with a specific and interesting background.
As the creators of a portfolio sharing tool rising in popularity on Reddit, we got to answer questions from Redditors and receive direct feedback.
Instead of leaving this open-ended, we wanted to take this opportunity to prioritize our future work. We listed top 5 most requested features to date, and asked Redditors to comment or vote for them.
It turned out to be a useful way to conduct the AMA. Because we provided concrete ideas to for our users to react to, they were able to give even more specific feedback and how they want Hello Money to evolve in the future.
In the AMA, we got to hear direct feedback from our core group of users, those who’ve been returning to the site and using it frequently, those who are watching us grow with curiosity. You can see the entire AMA conversation here.
The best part of it was to hear how Hello Money’s providing value to our users, that we’re making the lives of this particular group easier and better — in a peculiar but real way. In their own words:
HelloMoney has really helped me get my investments in order.
I love the platform and the insight/flexibility it gives.
Hello Money is definitely turning into my favorite tool.
I love the site, thanks for all the hard work getting it up and running.
Every one of these lines made our day. We’re super motivated to improve the site and deliver more value to those who tried Hello Money before others did, and care enough to give their feedback.
And boy, are our users vocal. We got a spreadsheet full or feature requests. Many of them overlap with existing requests (which is good, confirms the user demand); others are new and more detailed than before. Requests include:
- Multiple accounts in a portfolio page
- Dividend yield and sharpe ratio for portfolios
- Value-add analysis of portfolios: Optimization, correlation, tax, fees
- Browse and search user-designed portfolios
- More advanced portfolio features: Negative (short) holdings, purchase and sales dates for each holding.
Perhaps the strongest signal we got was that there are many non-US Redditors who want to use Hello Money too: Canada, Australia, UK, Sweden to name a few.
Cost vs. Benefit Analysis
Before we knew, we had dozens of feature requests to prioritize. What next?
Instead of the founders picking the next projects, the entire team gathered around to napkin sketch each request, and do a planning poker for both development cost and growth/business benefit.
At the end of the workshop, we laid them all out in a 2x2 grid to find which ones yield the best value: Lower cost and higher benefits.
The lucky winners based on this analysis are:
- Canadian stocks
- Multiple accounts in a portfolio
- Portfolio dividend yields
- CSV import and export of portfolio holdings
And these are the features we’ll add next!
We plan on delivering the first set of features as soon as possible, to impress our loyal users and establish a positive feedback loop. In the next set of blog posts, we will explain each feature that we ship based on these AMA requests.