entrepreneurship – Digideo blog posts about startup, business model, entrepreneurship approach

, , , ,

Market intelligence and strategy

Do we need a strategy? Do we need to have  a market intelligence competency?

Yes, it is really important nowadays:

  • strategy,
  • tactics,
  • detailed plan,
  • fast implementation,
  • fast reaction on changes
  • and most boring – process analysis, testing and optimisation, and once again implementation into real operations

Is it a something more difficult than commercial creation or any promotional gadget preparation?

The answer is YES.

Why is it so important?

Because it gives a short and long term strength for your company.

Why is it so unique and most marketing agencies don’t want to propose it to its clients?

Because they want to present fast solutions for marketing departments – a beautiful commercial on the first page in newspaper. But what about customers? What do they need?

Yesterday I read a great article about Generation Y born 1980-1996 and “Cool brands stay hot”

It looks that not only me and my friends are overloaded with information, the same marketing tactics and push sales.

Digideo’s marketing strategy process looks very fast:

1. questions and questions – Every industry has its own specifics. Every company has a different situation – internally and externally, its age and development potentials. It means every company is unique and needs unique solutions:

  • what you did previously? how?
  • what results did you achieve from specific actions?
  • how much is the new customer acquisition?
  • what is the retention?
  • how much does your client pay you in average?
  • what is the cost of serving this customer? – it is a very rare knowledge. Simply many companies don’t know this cost. I can analyse it as well.
  • what services you have?
  • what services did you customer use more often?
  • did you try to contact your previous customers that used your services?
  • who else is in your environment? contractors, subcontractors, the supply chain, etc?

2. meeting with key employees

3. clarifying the goal and the scope of strategy after interviews

4. analyzing the situation: including competitors, SWOT

5. building strategy for particular goal with measures and KPI for processes

6. creating the high level strategy implementation plan = like a project plan with measures

It will take 2-4 weeks for small companies. For huge multinational companies – 2-3 months.

Why is it important to spend a time for it?

1. it gives you a direction, vision and knowledge about yourself and competition, environment around you

2. it sets goals and plan how to achieve them

3. it can look at your processes from outside and help in better performance, cost cutting for example

4. it will help in analyzing you current activities – ROI, efficiency, quality and result for company

5. and many others

MINUSES:

1.  TIME – yes – you need to find a time for me, for this job

2. COST – yes – it costs

3. changing environment – yes – it has to be reviewed after a particular period of time – half a year or quarter.

 

, , , , ,

Social sharing and recommendations in ecommerce

Social sharing and recommendations in ecommerce have huge impact on sales.
I found today an interesting infographics that present recent analysis of USA market.
It presents a growing importance of Google Plus and Pinterest as a recommendation platform.
It is really interesting.
It looks that majority of shares are related to apparel, home and electronics.
No surprise for me. Simply I do the same.

Each channel has different types of shares and conversation rates. It looks that email is the most valuable.

Twitter is good for holidays and home, Google plus for electronics, sport, apparel and facebook – apparel, electronics and sport:).

Some social media channels are most popular in USA but I think the trend is really similar to Poland.

Polyvore is quite unknown in Poland but you can use it for clothes, children and home related products. Pinterest is very similar but home equipment is replaced with health products. You can notice many diets and healthy food related pins.

Wishpot – a wishlist portal that you can share your shopping list or your wish list. It looks that it is also a good place for recommendations and sharing.

StumbleUpon – a place to present the best websites  filtered by your interest.

social sharing

SocialROI stats

, , , , ,

Delivering e-commerce project

Delivering e-commerce project with success is not easy task. E-commerce project management is complicated with many potential challenges involved.

Last couple of months we worked on several e-commerce projects and always there was a problem with understanding the complexity on my clients side.

We had to start with education and some initial planning first.

Very often we get an inquiry that our potential client wants to have an online shop:

  1. he has xxx budget but
  2. there is no list of requirements – “please tell me what I need and what the best solution is for me”
  3. simply it should look beautiful and professional.
  4. it should have this and this payment gateway and this and this shipping method
  5. it has to be done in 1-2 months

There are some elements you need to consider once you decide to invest your time and money in new online shop:

  1. Project planning and resourcing
  2. Stakeholder support and managing expectations
  3. Defining requirements
  4. Supplier selection and service levels of support ( very often missed)

Consumers do not tolerate bad web experiences anymore. Quite simply, you have to do it in the right way.

e-commerce

Small and medium business

has always many constraints: time, money, capacity. But small businesses are most flexible and adaptive to any changes in the environment.

The main problem is choosing the best platform and solution. Such platform should be prepared for 2 years of operating.

Why ?

  1. There are hundreds of solutions that can be used here
  2. The solution should be flexible and adaptable to new conditions, like social media sales, mobile sales
  3. start ups simply don’t know what to expect from solution, what basic features should be implemented
  4. Because it is difficult to migrate to new platform from time to time and predict the increase in sales in next 1-2 years.

Digideo helps with analyzing e-commerce solutions and propose the best one.

Next step is to choose the right supplier. You need to prepare the evaluation list with some points that are important for you: secure, experienced, professional, reliable, registered, no dept, international, local, global, with support 24/7 days or not etc.

Why is it so important? Our experience shows that there are many unreliable suppliers, freelancers that can hurt your business. Recently we helped our clients to fix security gaps and backdoors left by such developers.

Please remember that it is really insecure and dangerous situation for you customers, too. Somebody can steal their credit card numbers and personal data.

Client-side professionals can play a very important role in the whole process:

  1. Find the right supplier for your business
  2. Manage internal expectations and set realistic expectations
  3. Deliver on time and on-budget
  4. Deliver a return on investment – yes, it is a huge investment of time

Now we can start the project:

  1. collect requirements
  2. setting project plan
  3. managing project

Supplier-side professionals play a very important role during the whole project:

  1. Building credibility through a more customer-centric approach
  2. Reducing client churn, increase customer retention
  3. Delivering on time and on budget

We help with all these steps. Please look at our project management offer.

, , , , , ,

Product optimization vs. consumer health

Today I read a great article about the food product optimization vs. consumer health in relation to the junk food in USA. There are people that really would like to change the production of food and try to change it. Good people, good engineers.

My thoughts after reading this article are following:

  1. Junk food is a very efficient business and very prosperous for their producers ( there are great examples in the article)
  2. CEO of junk food producers are not interested in healthy society and don’t understand their engineers language
  3. Junk food is a art of chemistry – not an art of nutrition that is needed for people.
  4. Junk food is everything about smell, touch, feel, sip, swirl and taste
  5. the food industry already knew some things about making people happy – sugar
  6. Product optimization has different annotations for producers and consumers. We want to have a healthy, tasty food, they want to sell more and more in efficient way.
  7. Sensory-specific satiety is a guiding principle for the processed-food industry. The biggest hits — be they Coca-Cola or Doritos — owe their success to complex formulas that pique the taste buds enough to be alluring but don’t have a distinct, overriding single flavor that tells the brain to stop eating
  8. “Discover what consumers want to buy and give it to them with both barrels. Sell more, keep your job! How do marketers often translate these ‘rules’ into action on food? Our limbic brains love sugar, fat, salt. . . . So formulate products to deliver these. Perhaps add low-cost ingredients to boost profit margins. Then ‘supersize’ to sell more. . . . And advertise/promote to lock in ‘heavy users.’ Plenty of guilt to go around here!”

junk food

And some marketing information I found:

“In the process of product optimization, food engineers alter a litany of variables with the sole intent of finding the most perfect version (or versions) of a product. Ordinary consumers are paid to spend hours sitting in rooms where they touch, feel, sip, smell, swirl and taste whatever product is in question. Their opinions are dumped into a computer, and the data are sifted and sorted through a statistical method called conjoint analysis, which determines what features will be most attractive to consumers. “

More you can find on nyt.com