Sounds like a great tool for companies which are not tech oriented. A lot of managers have good analytical ideas but encounter the barrier of actually executing them. I guess that what Optimizely do is not very hard and in case of competition, a first mover advantage would make a big difference, because right now it seems like business owners are not quite aware to this service.
Sports is an industry which is one step behind other industries that have adapted data analytics decades ago. In addition to that, sports is an industry with much more popularity and money which brings me to the conclusion that we are about to see a substantial improvement in using data in sports.
It seems like the barriers for entry are very low, which makes me surprised to see how strong Fitbit’s brand is and learn about their huge market share.
People have always liked to see data and numbers about things that are important to them (e.g. their health) and I can see how it would also play as a social trend where you can “compete” against your friends.
An intelligent and simple idea to build the clients identity with the company. I agree with the final conclusion that crowd campaigns could be used for cheap to create a new marketing campaign. Any type of contest game that involves prizes or even a noble goal will attract customers attention and make them more engaged.
This is a very nice model. A few thoughts on that:
I assume that the same way you would like to have customer data coming from the ads, in order to make the ads better you also need prior data. For example, how well your previous ad campaign did. A type of data I’m not sure the company would like to share with the ads generators.
I totally agree that there is a big risk allowing someone that could be working for your competitor having access to your new product ad. There’s a risk letting him/her access to make a bad ad that will hurt your business.
I would also think about the IP rights issue. How to certify the company doesn’t uses an ad generator idea, slightly change it, and avoid paying the ad generator.
Since there is a lot at stake (client’s health), I think CrowdMed faces a big entry obstacle and there is a real challenge in making people trying out their service. Additionally, this is not a recurrent service so there aren’t repeated customers.
They should think how to solve these issues in order to be successful. For example Uber are giving you a first free ride, and after trying it out you will likely be using their service again.
Never played WoW, but got the chance to play other MMORPG like Diablo, and it is indeed very addicting, especially when your friends are there.
I wonder if they can lever the huge user base they have and transform WoW into a platform with indirect network effect with other content creators to enhance the user experience in return for profits. similar to app developers on facebook.
In a type of business being so dependent on network effect and where you have two similar competitors, I wonder if the only way for a business to survive is to eventually acquire its competitor. Otherwise, both businesses will reach a point where their churn rate is bigger than their new customers and would either go to a price war, or merge.
Very interesting post. As you said, parking industry has been waiting at least 25 years to be disrupted, and I actually believe an Uber-type parking app would complement SpotHero, by allowing people to offer their private parking spot for users. In addition to that, electronic parking meters would notify the app if the parking spot is available or not.
Sports is the last entertainment content that has to be consumed live (as oppose to all the other things you can watch on Netflix). Thus sports attracts big money from advertisers and gamblers. I wonder if it will have a positive affect on the games that we all love. On one hand it could bring in more money (as we already witness huge TV right contracts). On the other hand it could also lead eventually to selling out game and ruining the sport that we all love.
No doubt, Domino’s Pizza was able to capture un-loyal pizza eater like myself using their user friendly app and website.
This technology upgrade they have done is clearly helping them to up-sell and cross-sell by offering various promotions to their clients.
Great post. Do you know what’s the change in revenue from food & beverages (F&B)and memorabilia ever since the Red Sox started using this technology?
I went to a game a few weeks ago but unfortunately have not seen any advertisement about the existens of this app so it seems like its hard for them to get a lot of traction. Additionally, they were still using a lot of runners who sold F&B manually. So maybe this idea doesn’t really work.