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Archive for the ‘markets’ Category

Designing a distributed scalable web application

Posted by guptaradhesh on August 30, 2013

Here is a very interesting and useful read: here

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Crowdsourcing vs Crowdfunding

Posted by guptaradhesh on August 30, 2013

Crowsdsourcing is when you have many people to help you with a project with ideas, testing, labor to build a better product. Open-source is a big example of crowd-sourcing. Leveraging the collective coding power of freelance programmers to deliver a great product. Another great examples being Wikipedia. Reddit, Digg being more examples of the same.

Crowdfunding is about the financing of projects and people by (large) crowds. Crowdfunding is a DIWO (do it with others) approaching to contributing to a cause they believe in. In a nutshell, it involves soliciting an audience of potential fans and convincing those fans that your film project is worthy of a donation from them to help you make the film. Or raising money for education or medical treatments.
Now they’re bringing these concepts home. Instead of just giving money away because it feels good or is the right thing to do, now you can do so and own shares of stock in that business!
Some of the top crowdfunding sites are: Kickstarter, Indiegogo, Crowdfunder, Angelist, Quirky ..

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Startups – food for thought!

Posted by guptaradhesh on July 16, 2013

With so many startup working hard on great ideas trying to innovate and make some impact. There is always a big threat for startups working on something which closely aligns with a big company. If they offer to buy you – you are lucky; if they launch a competitive product – things won’t be easy!!

Now days we see so many big companies like Google, Yahoo, Facebook entering different niche segments and launching different products. In such a scenario, its very important for a startup to be focused and take a right call at the right time.

I asked a similar question at a Tech-Meetup to some startup biggies and their answer was smart but unsatisfying. They pointed out in being smarter and confident about what you are doing and performing better. Also on the fact that, being a startup – its easier to maneuver the product and change directions (I liked this answer) — but still, I dont think one should not be worries about being crushed away as a minnow as soon as a big company enters in your space. Instead of demotivating anyone – build a product that makes the Giants think as worth buying then rebuilding.

Something similar I noticed which made me jot this down is this:

Amazon launched “Amazon Birthday Gift“, is a way to integrate social media for giving birthday gifts. It allows a group of Facebook friends to go in on an Amazon.com giftcard together. User buys an Amazon.com giftcard and invites other mutual friends to donate using Amazon Birthday Gift. When birthday arrives, recipients are tagged in the Facebook Timeline wall post.

Interesting to note is, the NY based startup called Aggregift has been running the same idea from quite a few months. I wonder what happens to such startups!! Similar gifting idea is run by companies like: Wrapp, Boomerang ..

aggregift

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Key Ecommerce Metrics that Determine Success

Posted by guptaradhesh on July 8, 2013

  1. Understanding lifetime value of a customer-

    Customer lifetime value, CLTV = (Avg profit generated per year X no. of years) – Acquisition costs

  2. Monitoring customer satisfactionThis will tell:

    – customers perspective
    – required potential changes in current offering
    – truth behind the numbers

  3. Measuring your sales funnelAnalyzing and working on the following plays an important role:

    – Landing pages
    – Conversion rate
    – types of visitors

  4. Determining marketing ROI

    Avg. acquisition cost = Acquisition spending / number of customers acquired

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Malkovich Bias

Posted by guptaradhesh on June 12, 2013

“The tendency to believe that everyone uses the web as you do.” ~Malkovich Bias

ps: The Malkovich Bias is quite prevalent in design and product development processes. Rationally we can all accept that people are different and their approaches to the web differ, but that rational thought can be super tough to internalize. (soure: link)

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Yahoo acquires Tumblr! Great move?

Posted by guptaradhesh on May 20, 2013

Yahoo is being extra cautious this time. Definitely a brave move of buying a great social microblogging site (Alexa #32) generating just a few millions of revenue. But it looks like they have a plan. They have lessons to learn from Flickr. And hence we are hearing some nice statements like:

“They have promised not to screw it up.” and

“Part of our strategy here is to let Tumblr be Tumblr,” Ms. Mayer

Yahoo! anticipates to channel some younger audience from Tumblr and they project a 50% boost in their traffic. When it’s about buying Tumblr, 1.1B could be totally worth it. Let’s see how Yahoo! works on it.

Apart from all, definitely they should fix Flickr! Here is an interesting read:
http://www.linkedin.com/today/post/article/20130520172151-6388496-dear-yahoo-now-please-fix-flickr

P1-BL595A_TUMBL_D_20130519220303

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Wal-mart’s Supply Chain

Posted by guptaradhesh on April 23, 2013

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Conversation rate optimization (CRO)

Posted by guptaradhesh on April 19, 2013

Simply, Conversion Rate Optimization is – finding why visitor aren’t converting!

Here are some quick points one should definitely keep in mind while planning the CRO:

1. Don’t assume that if something has worked for someone else, it will work for us. Every site, domain, group of users varies in itself.

2. Look at your product as a customer. Go and buy your product or service and analyze the experience.

3. Set up funneling in Google Analytics. Analyze which pages are having the maximum bouncing rate and where do you see big opportunities.

4. A/B split testing – this process involves serving up different page variants in order to measure objectively which version of a page performs better. Some of the important variants that can be used are:

– site headline wording
– product sales, prices
– layout, size, image of products
– color, location of ‘Add to Card’ button
– funneling method

5. Use Analytics apps like app for heatmaps to see the where users click the most

6. Gather feedback – getting feedback from customer directly is very important. This can be done by tools like live chat, in-page surveys, emails etc. Also there are some apps/ tools for getting customer feedback which can be used.

7. A simplified landing page is very important. One should check and make sure that the information on the landing page is simple and not verbose.

8. Post conversion experience is something people happen to ignore. We should not forget that a confirmation page can be well utilized by providing good recommendation so that user buys something more or by asking user to follow/ share on Facebook, Twitter to share the information with larger audience. We may even suggest the user for an email subscription.

9. Trust – make sure that user is able to trust your website which would give him the confidence to buy the service  -> make the payment. To ensure the same, one may discuss his successes, show verisign , big customer names etc.

10. Track results – keep tracking the results of tests and conversions and analyze the data. One can focus on many areas like, which products are more sold, what time more payments happen, what group of people are making payments – based on age, location, sex, what prices work the best, which pages/ funnel lead to conversion. And such information can be studied/ brainstormed to conclude further next steps.

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Cassandra vs MongoDB vs CouchDB vs Redis vs Riak vs HBase

Posted by guptaradhesh on April 15, 2013

While doing some search about deciding the right database of my project’s requirement, I found this link which gives a succinct informative comparison.

http://kkovacs.eu/cassandra-vs-mongodb-vs-couchdb-vs-redis

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Tech companies in NYC

Posted by guptaradhesh on March 19, 2013

To find a list of tech companies / startups in New York City, NY Tech Meetup has put together a great roster:

http://nytm.org/made-in-nyc

To remember the link, just google:

Made in NYC 🙂

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