WE HAVE NO IDEA WHAT WE’RE DOING


Posted April 20, 2021 by aliceworly12

Prior to the pandemic and quarantine, less than 8% of commerce was online. As of Q3FY20 eCommerce grew north of 14% of all commerce. So while the Retailpocalypse was in its last phase, physical retail still outsold eCommerce by at least 7:1.

 
Before the pandemic and quarantine, less than 8% of commerce was online. In Q3FY20 eCommerce grew north by 14% of all commerce. So while Retailpocalypse was in its final stage, physical retail still outperformed eCommerce by at least 7: 1.

The failure rate of crowdfunding campaigns is 85%.

The failure rate of e-commerce store owners ranges from 80 to 97%.

What if there was a way to bridge the gap between these three failure rates? What if we could connect what people consume online with what they buy offline before waiting for the brain-computer interfaces (BCIs)? In short, what if we could bridge the gap between social and commerce? (Use case example.)


Mostly there is a lack of memorable, meaningful, measurable and monetizable answers from people interested in stories about beagles, princesses and pit bulls, pets, auto repairs, raspberry and blueberry vinaigrette gyros, vacation travel savings techniques, getting stuck at airports during blizzards, rent cars and Cup o 'Noodles, My Fair Lady and @Instacart, dine out at the delicious Banana Leaves cafe, cook kosher halal without jelly, blue marshmallow # 1 without artificial colorings flavored with eggnog, 50 Anniversary and chocolate ganache, camping adventures with groups of young people, birdhouses built by children, rainbow hair dye, DIY artificial cakes without dyes for your child's birthday party and gingerbread houses from Halloween and Greek Mount Olympus costumes.

In addition to the ad revenue that YouTube collects, of which most of its video posters see little, monetizing the DIY craze has proved quite tricky. Ditto for Christmas shopping, smartphone accessories, buying a new luxury Subaru online with no vendor, how to get hard-to-find children's contact lenses and vitamins, as Amazon often has thrift store prices in stores used inventory seldom carry, the challenges of buying clothes on amazon that doesn't fit but you don't realize that until the clothes arrive, DIY auto repair, fun auto repair, glorious victory of the auto repair, diaper pies and muscle aches, drones and honey scones, Triple A baseball and blue-tailed skinks, favorite foods, fasting and Boston, fused vertebrae and buried treasure, where to buy school supplies when most stores are exhausted, creams and cured meats,

Connecting social media with eCommerce has been the white rhino of many investors and startups for many years.

Instead of working towards such solutions, we have VCs and shareholders asking about vanity metrics:

- How many people have looked at your website? Instead of: how many people have signed up or how many have bought an item? -

- How many downloads does your app have per month? Instead of: How many of the people who downloaded your app removed it after less than 30 days?

- What are your advertising revenue? Instead of: How can your product acquire or create more value?

In response entrepreneurs answer these questions, often presenting their highest marketing spend followed by vanity milestones:

"We use Google Analytics and similar suppliers to track every movement in the supply chain, to ensure that when the buyer's journey is complete, there are no delivery delays. This will lead to more frequent purchases, ideally of higher priced products. is ...
We are reaching Chiptal on Friday! ”

This led to a centralized study of Chiptel’s SWAT, followed by a great pitch with a demo through Zoom.

The results of this pitch are usually:

1. The person liked the pitch and accepted your invitation to see his / her manager again next week.
2. The person you are pulling is not a decision maker
3. The person you're pulling doesn't fully understand what you're pitching
4. The person you created three more projects with because of the CCB and he wasn’t fully present and listening to your 10 minute pitch
5. You provided a lot of information very quickly, trying to build agility
You. How you sell your product can reduce shrinkage, increase RII, reduce costs, increase retention, and cure cancer. The person you pulled doesn’t believe all these promises.
You. The person you are dragging is advocating for change; The risk of change that can result in a negative outcome. The risk of “business as usual” is minimal.
Information that almost all ecommerce platforms and store owners have forgotten is:


- People behave differently when observed (best behavior vs. average behavior). Despite this, we're seeing an incredible number of start-ups that help your customers track everything they do. "We are the palanquin of e-commerce" is basically the ethics of these companies.

- Barry Schwartz's paradox of choice - Many decisions overwhelm a person who chooses not to make any decisions If you don't train your mind to buy what you want even after searching pages other than Amazon and Google Shopping, you can buy almost the desired product.
- The idea of ​​encouraging virality - when PayPal paid 20 20 to each person who referred to another person who joined, and when Dropbox offered free data storage for the reference of friends who joined them - as described in great detail by Reed Hoffman and Chris Yay Blitscling:
Lightning-fast Path to build huge valuable companies

So now every ecommerce platform tries to copy Amazon to make their model in physical retail contrast. Consider the last experience of renting a car at the airport vs Amazon:

- Do you want to refill the gas tank or do you want us?
- Do you want liability or more comprehensive insurance coverage?
- Do you want a GPS?
- Do you want to join our exclusive members' club? Etc.

"B2B marketing has broken down," added Raj De Dutta, CEO and co-founder of Bloomrich, adding that "the future of B2B marketing looks like B2B marketing," said Kevin Marasco, CMO of Genefit. To go back to 2B to B2C "or person to person.

The smart speakers of every phone, tablet, laptop PC, TV and car have been successful by BCI, which puts @ Facebook and @ Neurallink pioneers, great possibilities. After these products have not arrived or after their research and D-episode, those homemade object recognition and image recognition models can provide a much-needed bridge between social and commercial.
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Contact Email [email protected]
Issued By Alice Worly
Country United States
Categories Accounting
Tags ecommerce
Last Updated April 20, 2021