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I cannot stop thinking about this statement 🤯. Generation Alpha (2010-2024) are the first generation to grow up in a world of on demand services only. YouTube: 2005 Spotify (in Aus): 2012 Netflix (in Aus): 2015 Uber Eats (in Aus): 2016 No Friday night run to the video store to find out the latest release is out of stock and getting a free credit to hire it when it's next available. No heading to Sanity to get the new Fresh Hits CD and find out it's sold out. I'm so curious to see how the demand on the customer experience will play out as this generation ages. #consumerinsights #consumerinsights #marketing #customerexperience #customerinsights

When setting revenue projections, how do you come up with "the number"? In other words, what is your firm's total expected revenue over the course of 12 months? There are a few different ways to measure this. In this clip, Mark shares one way you can get to "the number" is by looking at a metric called revenue-per-employee. To hear more ways to come up with "the number" and how you can measure your revenue progress, listen to the latest episode of Breaking BizDev, "Revenue Pacing at Mid-Year: How Do Your Projections Stack Up?" 🍎 Apple: https://lnkd.in/e8mTswVF 🟢 Spotify: https://lnkd.in/ecuG_NWn 🎥 YouTube: https://lnkd.in/ehjRBeX5 #sales #marketing #professionalservices

Every wondered why Netflix, Spotify, etc curate personalized recommendations based on your viewing habits? The Paradox of Choice- Decision Paralysis What is this concept? Offering too many options can overwhelm consumers, leading them to make no choice at all. This can negatively affect sales in retail environments. Here's why: 1) More choices require more mental energy, which can lead to fatigue. 2) FOMO: With so many options, you might worry about missing out on a better choice. 3) After making a choice, you may feel less satisfied because you think about the alternatives you didn’t pick. Here are some real-world examples of how businesses have utilized this concept: A) Google’s search interface is intentionally simple, focusing on a single search bar and hence minimizes distractions and choices, Directing users to their primary goal—finding information quickly. B) Instead of showing all products in a category, Amazon often highlights best-selling items or curated lists. So, the next time you appreciate a tailored recommendation remember that it’s not just about your convenience. Instead, It’s a clever strategy to help you navigate the overwhelming world of choices, transforming what could be a stressful experience into a more enjoyable one!

When folks think about leaders being active online it’s usually through the lens of sales and marketing. However, while that is true, the highest return on investments for business leaders will be controlling the narrative about their business performance by investing in a personal platform you can use to speak directly to your stakeholders like Daniel Ek is doing here. ✅ Invest accordingly.

Hyper-Personalization online. 🚀 We've seen companies like Amazon 📦, Spotify 🎵, and Netflix 🎬 nail it. Amazon uses hyper-personalization to recommend products based on previous purchases and browsing history. The result? 35% of their sales come from these recommendations! 😲 On the other hand, Spotify uses it to create personalized playlists for its users. Their Discover Weekly feature has increased user engagement and helped lesser-known artists get discovered. 🎶 Netflix? They've got it down to an art! 🎨 By analyzing your viewing habits, they can suggest shows and movies you're likely to enjoy. This has led to higher viewer satisfaction and retention rates. 📺 But it's not just the big guys reaping the benefits. SMEs like Stitch Fix, an online personal styling service, use hyper-personalization to handpick clothes for their customers. They've seen a 25% increase in sales year over year! 👗👔 Hyper-personalization is not just a trend, it's the future of online customer experience. So, let's embrace it and see where it takes us! 🚀 #HyperPersonalization #DigitalTransformation #Amazon #Spotify #Netflix #StitchFix #OnlineExperience

Can changing the order of products on your website increase revenue? Turns out, yes! In studies, revenue has increased 4% when companies changed from ascending to descending order. Zack Kilgore and I are back this week with even more discussion about pricing tactics. There was so much we couldn’t cover it all in a single episode, so this week we discussed: -Scaling up vs. scaling down -Decoy pricing -Price sorting (ascending vs. descending) -Framing (only $2 per day!) -Promotional pricing ($ vs. % discount) The conversation around ascending vs. descending just came up in a conversation I was on with Bianca Assi and a customer today who said they’ve seen an increase in revenue just by switching around the order of the three services they are offering (no other changes). It's a compelling reminder that small changes to website format, or pricing structure can have an outsized positive impact on your business. Link to listen to the full episode on YouTube or Spotify is in the comments below. #pricingstrategy #marketinganalytics #fiber

Daniel Ek and Spotify are executing extremely well on their quest to enthuse listeners from all walks of life. Their audio book strategy is a prime example, so far, of a company broadening their scope while building on existing strengths. Also an example of a forcefully daring CEO. My tip: study Spotify and gain important strategic learnings. I believe in a (future) fusion of audio books, audio reports, and video, that could become a yet-to-be-explored intersection for Spotify. A place where thinkers & research can proliferate on a global basis, through their own ”wall” and collaborative networks. Below is an audio summary of my book (Regenerate the Economic Machine). I’ve been experimenting alot with audio + research lately, and Spotify is probably the place to scale, right? https://lnkd.in/daEXznUQ

In the world of product development, we often find ourselves trapped in the maze of statistics. I’ve both said and heard things like, “Why should we build or fix this? Our data shows it’s only used by 1% of our users.” This data-centric mindset has become a trend, steering modern product development. But let's take a step back and reflect on some powerful examples: In 2005, Amazon introduced Prime, offering free two-day shipping for an annual fee. At the time, data suggested customers weren’t willing to pay an upfront fee for shipping benefits. Fast forward to today, Prime has revolutionized customer expectations and loyalty. In 2015, Spotify launched Discover Weekly. Initially, engagement was low as users were accustomed to curating their own playlists. Today, it’s a beloved feature, helping users discover new music effortlessly. These examples remind us that data, while invaluable, isn’t the whole picture. Sometimes, our 1% could be the future’s 50%. It’s about seeing beyond the immediate numbers and believing in the potential impact. Reed Hastings, Co-CEO of Netflix, captured this beautifully: “We had all these DVD customers and very few were using the streaming feature. But we believed in the future of streaming so strongly that we continued to invest heavily, even when the data suggested it was a fringe feature.” As product builders, let’s not confine ourselves to a prison of our own making. Let’s dare to envision and invest in the future, even when the data says otherwise. #ProductDevelopment #Innovation #DataDriven #FutureThinking #Leadership

Treads isn't erasing retail tire stores; it's the failure to adapt to changing consumer preferences that's leading to their decline. Similar to how digital cameras didn’t kill Kodak but its reluctance to embrace innovation did, Treads is providing a more user-friendly and cost-effective alternative, meeting the modern consumer's expectations. #tiresubscription #innovation #startups #vc #cvc #tireindustry

Netflix didn't kill blockbuster, late fees did. Uber isn't killing taxis, limited supply and fare control are. Apple and Spotify aren't killing the music industry, big labels are by only selling full-length albums. AirBnB isn't killing the hotel industry, limited availability and pricing are. Starbucks sales are falling because their products are too expensive. Nike stopped innovating, and they're  is losing business to Hoka, Lululemon and Under Armour. Technology is not the problem. The problem is putting profits ahead of happy customers. It actually works the other way around. If you liked this, you'll ❤️ my weekly 2-minute newsletter - growth ideas for impatient founders. http://systm.co/blog