Michael Smith

Passionate about creating profitable cards and payment solutions

Posts

Profile

Michael Smith

Experienced financial services strategy consultant
Financial Services | London, United Kingdom, GB

Summary

Oliver Wyman trained strategist, LBS MBA, deep cards and payments expertise
Specialties: Cards and payments, product strategy, customer strategy, value proposition design, product design, customer management, customer acquisition, marketing strategy, organic growth strategies

Experience

  • Jan 2005 - Present

    Principal / Global Solutions Leader / MasterCard Advisors

    Principal with MasterCard Advisors, the leading payments consultancy. Advise Europe’s leading card issuers on the development of strategic growth initiatives, new value propositions, and customer management strategies.

    Clients include Barclaycard, Royal Bank of Scotland, Lloyds TSB, MBNA, Virgin Money, SEB, Deutsche Bank, Santander, MasterCard and DZ Bank

Education

  • 1998 - 2000

    London Business School

  • 1988 - 1992

    The University of British Columbia

Posts

  • July 02, 08:52 AM

    Cool Business Cards

    In the course of my networking I meet a lot of people and get a lot of business cards – every once in a while I will get a card that really stands out.

    Here are three cards that lead to deeper discussion about their company and products.

    Not only is this business card unique, it is a great way to show off that WhereIsNow always has the most current information.

    The WhereIsNow service ensures that the contact information is always current.

    No longer do you have out of date phone numbers or email. By simply searching with key search = 2 18, updated contact for Daniele Idini is available.

    The second one is a unique business card from GeekStack, a company that produces an online trading card game with a science and technology theme. The cards feature the history, people, concepts, discoveries, and events in fields like Math, Chemistry, Physics, Engineering, and Biology.

    The final business card is also for GeekStack and makes creative use of mathematical symbols in a typeface logo, it’s a memorable way for Peter Christensen to introduce his company. Front and Back are shown.

    Guarantee you, if you were handed any of these cards you would be on their website checking them out. Let me know if you have favorite a business card.

    If you have a cool business card mail us a copy and we will run another post when we get a few.

  • May 26, 05:00 AM

    17 Examples of Great Presentation Design


    Last week we shared 10 rules to help instantly improve your presentations. While readers mostly agreed with the rules, they requested some examples of well-designed slides, so Dan and I did some digging.  We gathered some of the best examples of slides and presentation design to help provide a clear picture of what great presentation design is and isn't.

    Garr Reynolds, author of Presentation Zen, has become known for his well-designed presentations. His books and presentations have helped him become one of the most noted experts on presentation design. Here are a few sample slides from Garr that demonstrate  great before-and-after slides along with some of the best slides from his presentations.


    Steve Jobs is one of the best presenters in the world. Presenters envy his presentation skills and his clean and near-perfectly designed slides. BusinessWeek columnist Carmine Gallo has created a well-designed deck about the presentation secrets of Steve Jobs. Use this as an example of good slide design as well as great presentation lessons.
     

    Great presentations can be about anything. The winners of SlideShare's World's Best Presentation Contest demonstrate this well...

     

    Great slides don't have to be only about images and fancy gradients. Sometimes great slides can be only text. This presentation serves as a good example of how typefaces and colors can make text visual.
      Great slides are only effective if coupled with a great presentation. The following presentation examples from TED show great slides combined with good presenting tactics and speaker timing. Check out these videos for examples of great slides.

     

     

     

    At HubSpot, we are always working to make are presentations better. Here are a couple of examples of what we think are some well-designed presentations of our own.

    What do you think makes a great slide design?

    Free Download: Marketing Data: 50+ Marketing Charts and Graphs

    HubSpot has complied over 50 marketing charts and graphs on topics including Lead Generation, Blogging and Social Media, Marketing Budgets, Twitter and Facebook

    Download the ebook now! to have access to these charts for use in your own presentations

    Connect with HubSpot:

     

     

  • May 23, 07:36 PM

    I declare

    [Dave Birch] I just filled out my US customs form, sitting on a plane heading into JFK. I ticked the box that said I had less than $10,000 in cash or in monetary instruments (I'm not sure what those are, but I didn't have any). But I did have a splendid new pre-paid card that I was planning to test in US terminals as part of a project that we are involved in. Is a pre-paid card a "monetary instrument"? And in a world where you can load a pre-paid card via the web or mobile phone, what would it matter if you had $10,000 on it or not? My pre-paid card has $100 on it, but of course I could have gone on the web and loaded $5,000 on to it the moment I touched down.

    I'm really looking forward to catching up with the latest in the pre-paid space at Prepaid 2010 in London on June 14th-16th. I'll be chairing the session on Innovation in Mobile Payments on June 16th in the morning. Some people are not so happy with the march of pre-paid technology though, and do not regard the pre-paid card as the unalloyed benefit to society that many delegates to Prepaid 2010 do!

    Its features include a legal loophole that allows money launderers to get around the requirement that cash or “monetary instruments” (share certificates, travellers’ cheques, money orders etc.) in excess of $10,000 must be declared on entering or leaving the United States. It is, however, perfectly legal to carry, say, $50,000 embedded in the magnetic stripes of so-called pre-paid stored-value cards.

    [From Drugs, terrorism and shadow banking | Analysis & Opinion | Reuters]

    Is this an unfounded concern? Surely no smugglers would bother loading pre-paid cards with cash and then smuggling them in to the US?

    According to a government indictment that stemmed from a DEA sting operation, drug dealers using pre-paid cards issued by Virtual Money, a company based in Texas, withdrew $7.1 million from automatic teller machines (ATMs) in the Colombian city of Medellin in 2006.

    [From Drugs, terrorism and shadow banking | Analysis & Opinion | Reuters]

    Well, that's not quite the same thing, is it. For one thing, it involves getting cash out of the US, not in to it, and it does not involve smuggling loaded pre-paid cards into Mexico, but loading the cards in the US and withdrawing the money in Mexico (which I would have thought made the criminals much easier to cash). Anyway, meeting about with pre-paid cards is, of course, peanuts compared to the gold old fashioned technique of stuffing cash in the trunk of the car and driving over the border.

    Despite the concern over more sophisticated methods of moving ill-gotten gains, carting cash across borders has not gone out of fashion. In 2009, government agents along the border with Mexico seized $39.2 million in currency, according to official figures. That compares with around $10 million in 2008 and is due to more frequent checks of southbound traffic for cash and guns.

    Nearly $40 million in confiscated cash sounds a lot. But it is less than pocket change, in the grand scheme of things. The U.S. Justice Department estimates that drug cartels smuggle $24 billion a year into Mexico, $40 million amounts to 0.16 percent of the estimated total. What about the rest?

    [From Drugs, terrorism and shadow banking | Analysis & Opinion | Reuters]

    Actually, getting a pre-paid card in the US is already more costly, inconvenient and unattractive than it should be because of the requirements for identification that already exist to inconvenience honest members of the public.

    Federal law requires us to obtain, verify and record information that identifies you when you open up a Walmart MoneyCard. We will use your name, address, date of birth and other information (including Social Security Number for U.S. citizens or government-issued ID for non-U.S. citizens) for this purpose. Please see the Cardholder Agreement on this site for additional details.

    [From Products]

    I advocated raising the "anonymity bar" to €500 euros, thereby making it simple and inexpensive to provide cards for kids and students, but also with the goal of providing a simple and inexpensive platform for financial inclusion. But a prepaid card with €0 or €500 on it still weighs more than a €500 note, so why would money launderers carry suitcases full of prepaid cards instead of suitcases full of euros, dollars or pounds?

    The reason why this focus on pre-paid cards is so odd -- in the sense that it stops pre-paid cards from achieving more in the way of financial inclusion while doing nothing to stop crime -- is that it suffers from the unfamiliarity premium, the psychological trap that people fall into whereby new and unfamiliar technologies because the focus for real and imagined ills, taking the focus away from the real problems. There's another point to be made here. Pre-paid products can fulfill niches that other products cannot. Here's an example.

    Offshore Pro Group Prepaid Anonymous debit card card looks like a credit card, but has no name on it, just a numerical code. The user also gets a PIN code. The user calls his or her banker, who loads the card with a maximum 10,000 U.S. dollars .It can then be used to withdraw cash all over the world. Even better, there are no monthly limits of withdrawal, although a limit per withdrawal may apply. And you can reload the card when you run out of cash... Your privacy is protected—purchases aren’t made in the card user’s name.

    [From Anonymous Offshore Debit Cards]

    My bank doesn't provide any thing like this. Jim Breune was typically accurate with this comment about bank efforts in that space.

    Sure, I'd love to have a reloadable card that my son could stow in his backpack for emergencies. But I'm not going to spend a half-hour looking for one, applying for a new account, and then trying remember where and how to access it. But if the process was painless and integrated with my online banking, I'd buy a half-dozen prepaid cards, one for each child, one to toss in the glove box of each car, and another for my briefcase

    [From PayPal Launches Drop-Dead Simple Teen Prepaid Card & PayPal Account (NetBanker)]

    As it happens, in my backpack I really do have a PayPal prepaid Visa card. I thought this was quite a good product, but I forgot the PIN so I had to go and log on online to reset it, but when I went to do this I'd forgotten the password to log in. When I went to the "forgot your password" page, it asked me to answer my personal question, and I'd forgotten the answer to that as well. (Authentication strategy is should be a priority in the financial world for the coming year, but that's another point.) PayPal is a good example, as it happens, because they've been actively developing products in this direction.

    According to PayPal, "the Student Account eliminates the hassle of everyday money exchange between parents and teens, while giving teens the chance to learn good spending habits through the experience of being responsible for their own money. Parents can establish up to four PayPal sub-accounts for their teens, transferring funds into those accounts when needed, on a one-time or recurring basis."

    [From PayPal Introduces Student Accounts for Teens]

    This seems like a pretty good product, and if it was available in the UK then I'd give it a try. My kids do buy stuff online, but I generally use my credit card to buy stuff for them because I don't want them using their own debit cards online and the prepaid cards I got them to use on holiday in the US last year can't be used online, or at least can't be used online without filling out some tedious forms that I couldn't be bothered to go through. Giving the kids their own accounts but bounding them seem like a good idea. But since most of what they buy isn't online, I'd guess much rather give them teen debit cards that are sub-accounts from my own credit card, as this would deliver more flexibility and save me time and effort. If could set a limit as to how much they can spend per month and set the categories they can spend it on, that would be great. There are so many great new products waiting to be invented!

    These opinions are my own (I think) and presented solely in my capacity as an interested member of the general public [posted with ecto]

  • May 20, 11:23 AM

    Grasshopper Invades Canada (Toronto to be Specific)

    Well, the Grasshopper Buzz Team is at it again. We are heading to another city (or country in this case) to meet local entrepreneurs and share some free drinks! Only this time it’s a bit more exciting than usual…

    For the first time in Grasshopper History (–> Insert Star Wars Theme Music) we’re going to be able to offer Local Canadian Numbers (currently in beta but available to everyone in the next couple of months)!! We decided in honor of the occasion we needed to do something fun.

    So what did we do?

    We partnered with a great organization and decided to throw a fun event. We joined forces with the Canadian Youth Business Foundation (CYBF). Not only are the folks over there just as passionate about helping entrepreneurs as we are, but they do some great things to inspire & mentor young Toronto entrepreneurs.

    On June 1st at 6pm Grasshopper and CYBF will take over the roof deck of The London Tap House. It’s an unbelievable venue, and the local entrepreneurs who run the place have been really awesome in working with us. Our event is 100% free and all entrepreneurs, innovators, and small business owners are welcome! You can reserve your spot and see all the details here: http://ghcanada.eventbrite.com/.

    A few highlights of the night:

    • 30 Minute Panel:

      Made up of young, engaging and passionate local entrepreneurs

    • Topic:

      “How to build a community and WOM (word of mouth) around your brand!”

    • Our Panelists:

      Saul Colt – Thoora.com’s Head of Magic @saulcolt

      Erin Bury – Community Manger at Sprouter @erin_bury

      Anthony Del Col – Founder of Kill Shakespeare @killshakespeare

    • Free Drinks!

      The first 100 people will get their first drink free!!

    If you have any questions, comments, thoughts, concerns, or brilliant ideas feel free to reach out to myself (Jonathan Kay – @grasshopperbuzz – jkay(at)grasshopper(dot)com) or Rachel Azagury (@CYBFcanada or razagury(at)cybf(dot)ca).

    Please feel free to pass this invitation on to any friends, colleagues, or random aquantances you know in Toronto that might want to come. Register for your free ticket here: http://ghcanada.eventbrite.com/

  • May 02, 09:54 AM

    Looking For A Killer Multi-Function Printer For The Home Office

    We just moved into a new home and we are using the opportunity to say goodbye to some old trusty devices and add some new ones. At the top of that list right now is our laser printer. It's served us incredibly well for the last decade but it is time to move on.

    We are looking for an awesome multi-function printer (print, scan, fax, copy) that is small enough to fit on a home office desk and works well in a networked environment.

    Here are some specific requirements:

    1) The max dimension envelope is 16" high, 20" wide, 22" deep

    2) The printer must be accessible by everyone on our home network (we'll connect it via wired ethernet) and the scanned files should be stored on the network automatically.

    3) I've always preferred laser printing to ink-jet printing but I hear that ink-jet has really improved recently. I'm open to going with ink-jet.

    4) We need the ability to easily manually feed things like envelopes, cards, etc to the printer

    I think those are the main requirements. Please let us know what you all think is the best multi-function printer out there for us. We really appreciate your advice and assistance.

  • March 17, 09:10 AM

    PayPal 2.0 "Bumps" Money Between iPhones [Downloads]

    iPhone/iPod touch: You're settling up a restaurant tab for three. One eater has no cash, the other only twenty-dollar bills, and you're left wondering. If at least two of you have iPhones, PayPal 2.0 lets you "bump" the balance between phones. More »


  • March 03, 10:19 AM

    A Victory for a Fan Used to Defeat

    A fan of the Toronto Maple Leafs has found disproportionate hockey glee in competitions like the Olympic Games....
  • February 13, 12:00 PM

    Why Is PayPal Still So Hard to Find on Mobile Devices?


    Seven months isn’t a long time for most companies, but it’s practically an era in itself on the hyperkinetic mobile web. Since last July, Motorola has launched the Droid and Google its Nexus One. Tens of thousands of new apps have been created — Apple even finally unveiled its iPad, which could potentially rewrite the rules for mobile apps entirely.

    One thing that hasn’t changed, however, is PayPal’s visibility on mobile devices. Last July, PayPal opened a beta of its open platform so that developers could embed the payment system in their applications. In November, it went further, staging a developers conference to officially open the platform and setting up the X.com site for APIs and documentation.

    If the timing felt a bit slow, the strategy was sound. As AuctionBytes noted, “PayPal believes payments for services is a bigger opportunity than e-commerce.” The Times’ Bits blog painted a clear picture of what it could mean:

    PayPal imagines a future in which cash is obsolete, as are wallets. We will buy movie tickets by touching a movie poster on the street and order drinks from a touchscreen embedded in the bar.

    It’s a nice vision. But in the months since, PayPal hasn’t really left much of a footprint in mobile apps. I’m still paying for movie tickets mostly with cash, and the Fandango app I downloaded asks me for my credit card number, not my PayPal account. PayPal is now an option in the iTunes App Store, but few people who entered a credit card number in iTunes years ago will bother to go back and change their settings in order to use it. In short, PayPal is very much on mobile devices, but pretty much invisible.

    Instead, the buzz in mobile payments in recent months has been centered on Square, whose little white dongle turns an iPhone or iPod touch into a credit and debit card reader. Square is clearly a threat to point-of-sale companies like VeriFone, but by making plastic cards even more useful on the mobile web, it could be a big obstacle to PayPal as well. You can swipe plastic through a Square reader, but not your PayPal account.

    PayPal has been at once a success story and a company that hasn’t quite lived up to its potential. Its revenue has grown 45 percent in the past two years, while eBay’s main marketplace business has seen revenue fall 1 percent. But PayPal has never really disrupted credit and debit cards in e-commerce. And outside of eBay, it hasn’t become a default payment method on other sites, notably Amazon.

    The web is full of consumer complaints about PayPal, but my experience with the service over several years have always been positive. Even so, most of my purchases at Amazon or other e-commerce sites use debit card payments that bypass PayPal. It’s just a pattern I fell into and haven’t felt a need to change.

    That pattern will be even more deadly on mobile e-commerce. Smartphones like the iPhone and the Droid – along with the most popular apps — resonate because of their simple interfaces. They are designed to eliminate tiresome choices. No one wants to choose whether to pay by credit card or PayPal each time they make a mobile payment. And that is PayPal’s challenge — not simply to be an option on the mobile web, but to be the default.

    Related content from GigaOM Pro (sub req’d):

    Why 2010 Still Won’t Be the Year of Mobile Advertising

  • January 20, 03:47 AM

    Dear Avinash: Search / SEO Metrics & Analytics Questions + Answers

    How do you measure success of a online webinar?

    I recently did a webinar for the Search Engine Strategies conference (I am doing the opening conference keynote at SES London and SES New York) and my Market Motive co-faculty member Greg Jarboe sent me this KPI via email:

    "Your webcast was a big success. Your KPI questions per attendee was off the chart!"

    I don't know why I had not thought of this wonderful KPI. So much better than # of attendees.

    As always though context is king.

    It could be a good thing ("you were great, engaged the audience") or a not such a good thing ("no one understood a thing you were saying, hence so many questions"). Only upon reading the actual questions could I figure out which case it was (mercifully case #1 for me!).

    End of a minor web analytics lesson on going beyond obvious metrics and never, ever, never forgetting context.

    Back to our story. . . an hour is too short a time to answer all the questions (even in a webinar just focused on attendee questions). So here is a small selection from the 80 questions I could not answer in the wide ranging webinar.

    We will cover measuring success of SEO efforts on one web page, how to do search engine optimization for b2b websites, how to rank for highly saturated industries / categories / keywords, and which competitive intelligence tools do I use for search program optimization (and targeting display ads using search data!).

    I hope you all find the answers to be of value.

    #1. How do you measure SEO performance on a page level? I'd like to know how well my seo efforts for a particular pages have performed.

    Every measurement question should start by taking one step back and thinking of goals.

    In this case here are some obvious ones:

    Uno: You want to get a lot more traffic to the page from search engines.

    Dos: You want that traffic to come on the optimal set of keywords (why simply bounce traffic?).

    Tres: For both of those things to happen, you want the page to be indexed by the search engines and finally. . .

    Cuatro: You want to earn a bonus for yourself so you want the page to make money (e-commerce sites) or add economic value (non-ecommerce websites) for your company/website.

    Now it is not hard to figure out how to measure performance! [Before you do any kind of measurement please consider going through the above exercise. It is simple, effective and works like a charm - not to mention allows to get going faster.]

    Before you analyze do one small thing. Log into the Advanced Segmentation tool in your web analytics tool. Create a segment for Organic Search traffic. Sources -> Contain -> Google, Bing, Yahoo! etc. Save. Another way to cheat at this is to simply use Medium Matches Exactly Organic.

    If your web analytics tool requires you to call the vendor to set up advanced segments or re-tag your site to get segments then switch. There are too many choices in the market.

    Now log into whatever web analytics tool you use and drill down to the specific page you are interested in ("Top Pages Report" / "Content Title Report" etc). Apply the Organic Search segment to that report (in Google Analytics segments are on the top right, in other tools please refer to user manual).

    More traffic, not that hard. Stretch the time period to six months (or some large date range – remember SEO takes time). What do you see? Nice and gradual up and to the right trends. Do your happy dance! Something's working. Now look down at the table under the graph that shows traffic sources. If you did your segment correctly you'll see just the search engines and how much each is contributing to your overall traffic. Does the distribution match your goals?

    Ready for the next step? Click on Referring Keywords and now you are looking just at the keywords bringing traffic to this page. Do the keywords match the intent of the page? Do they contain keywords you were specifically targeting? No? Why not? On the other hand what are the surprises? Is the customer intent contained in the keywords telling you how to change / improve the page? Do it!

    Indexing. . . I am a big fan of Google's Webmaster Tools because of the wealth of data available, if you are not using this free resource (no matter if you are a SEO or not). Bing's Webmaster Tools have also evolved a ton, please claim your account right away and dive in. [I have not had much fun with Yahoo!'s web master resources.] In either tool you are looking for how well your site is indexed (report: Your site on the web -> Top search queries -> Impressions), how well your pages are indexed and, my absolute favorite, which keywords your search results are showing up. You are checking to see if:

    1. the pages you are targeting are being indexed frequently and

    2. if your site is showing up for the keywords you were targeting.

    You want validation that you are showing up for the set of keywords you are optimizing for (above) and that your pages are being recorded as being optimized for the right keywords (above the above :).

    Success. . . I humbly believe that the biggest mistake most of us doing SEO make is that we are far too obsessed with ranking and meta this and that and how to work back algorithms etc etc. We should focus more on what was the business impact of our SEO efforts.

    So in this context go back to your page report (from step 1 where you applied the organic segment) and look at the $Index [which is: (goal value + e-commerce revenue) / unique views of the page you are analyzing]. That is a crude measure how how efficient your page is being at converting. Of course look at our favorite metric bounce rate by keyword (that tells you if you can get people to give you one solitary click, the most primitive measure of SEO success).

    If you truly want to kick it up a notch as a SEO please please please go to the Goal and Ecommerce / Conversions reports and apply your organic segment, stretch the time period, and report (aggressively) how well your SEO efforts are delivering value to the business.

    Do it at a overall level, do it by country, do it by search engine, do it by specific keywords you were targeting. . . . and take two minutes to straighten your clothes because a new level of love and praise are about to be dumped on you by your company / client!

    [Does the above seem like a lot of work even if it is straight forward? It is. I know we look for short cuts. There is no such thing in real life. But if you are willing to put in a little bit of sweat equity then you'll stand miles apart from your SEO competitors. Not a bad trade off, right?]

    .

    #2. Is there a fundamental difference in SEO strategies for business-to-business sites vs consumer focused ones?

    [It is worth pointing out I am not a hard core SEO, that would be Todd Malicoat, I just play one one TV! Think of below as my personal lessons from the front-line of doing this work to the extent my humble skills allow.]

    The basic techniques you use to do search engine optimization between b2b and b2c do not change all that much.

    1. Make sure your site is crawlable by the search robot. Leverage the webmaster tools and the ability to upload your site map and exclude dynamic url parameters and more things like that. On your site make sure you really think through heavy use of flash (not that you should not, just think it through) and javascript encoded links (robots don't execute javascript) and other such things.

    2. Make sure your site architecture is well thought out. Directories. Clean url's. Links to your category and product (deep individual) pages. Top (/left / right) navigation is logical. More things like that.

    3. Make sure you live and breathe the mantra: content is king. In the end you live and die by the content on your website. Content as in words. Relevant words that tell a story about what the page is all about and the promise you are making to the visitors on that page. Content as in images, with well defined alt tags. Content as in relevant videos that are named well, linked correctly and well tagged.

    4. Make sure you realize getting lots of links from lots of websites by asking people to link to you and specifying what keywords they should use in the hypertext is not a magic bullet. Asking people to randomly link to you (I am looking at you major paid web analytics tool that had their "SEO Analyst" email me recently) is as lame as it sounds, and it does not work as well as you think. Earning in-context relevant links works best. IMHO.

    Ok All that is the same, no matter if you are a b2b, b2c, b2a (business to aliens, yes they do exist!). Do all that first to make sure you are not coming to play the super bowl naked.

    Here are a few things that are different with b2b. . . . .

    * Some very effective SEO strategies like allowing users to add reviews and comments and extend the scope of the page do not work as well with b2b as it is a differ net type of engagement and experience with your customers. Well don't give up. You have many many white papers, though leadership papers, webinars, Big B2B Association publications where you contributed and more locked up in pdf or, much worse, behind a forced "give me your login" / "create a account" page. I am going to give you a false email, why not just give me the content, AND let the search engine index it efficiently after all you want people to consume the content.

    Did I say already content is king?

    * One of the most common issues with b2b websites is that they often have a very specific understanding of their space when it comes to how their potential customers search for information. This results in not speaking the same language (say keywords) as their customers. When I work with b2b websites I spend a lot of time in the AdWords Keywords Tool, Insights for Search, Compete etc analyzing keywords and search behavior in my category. This knowledge goes back into re-doing content, urls etc.

    This is of course a good method for b2c as well, but it is significantly more important for b2b.

    * Start a conversation. There will likely be a lot fewer individuals talking about you / your industry, a lot fewer tweeting and expressing their love (or hate). I get it. But conversation on your site and away from your site is key (obvious fact). Why not host a user forum on your website for current and future customers to come together and share their thoughts / ideas / complaints / rave about your competitors (scared?)? Why not seek out the few people who do talk about the industry on twitter and engage with them? Why not start a YouTube channel with a series of how-to videos? Why not, : ), start a blog? Not just to highlight your own pomposity and press releases but to really share and lift your industry (not just your company)? Why not become the destination for industry professional?

    So few people in the b2b space bother to start conversations, why not use that to your advantage? Even if you can hook 100 people is that not more than worth it?

    Three small things that I would prioritize higher when I work with b2b sites.

    What do you do differently when it comes to your b2b clients?

    .

    #3. When trying to help your rank in search engines. . . when you are in a saturated industry like health or travel insurance – how does the approach change or differ?

    Two words: Long Tail!

    When you say saturated most people mean that for the "top" keywords they are interested in there is too much competition. For example: "hotels in las vegas", "cheap health insurance" etc.

    When there are a lot of players in the field it can be difficult to show up for the "head terms", especially if there are some strong players in the field. In these cases I have had a very positive experience focusing not on the head terms (terms for which there is a lot of traffic) but rather focusing on the long tail (usually key phrases that individually have little traffic but collectively these key phrases can deliver a ton of traffic).

    So, if relevant for your business, try to rank for "california health insurance plans" or "california individual health plans" etc. Key phrases (not just words) that each have much less competition (and will likely deliver more relevant audiences).

    You can use various keyword tools out there to identify these key phrases and then adapt your SEO strategy (pages, content, urls, etc) to focus on them. One way I use is to just type in competitor urls into AdWords Keyword Tool and then research what is working for them and adapt my strategy.

    Targeting the long tail with SEO can be a bunch of work, hence I have recommended in the past that one effective and cheap way is to use paid search to monetize the long tail. But I can tell you from experience that it works. For example for this blog the top 10 (head) keywords bring in something like 5k visits and the long tail (around 25k keywords) bring close to 34k visits. All organic (I am not rich enough to afford paid search!).

    One more bonus tip: Leverage "universal search".

    Videos, pictures, downloads, offers, buttons, maps, uploaded menus, coupons, and on and on and on.

    When you search for many terms relevant to me you'll see videos pop up, my book (uploaded into Google book search) show up with preview thumbnails, some of my flickr images and my twitter account and so on and so forth. For many of these searches I don't rank #1. But man do those listings (when triggered by the search engine's algorithms) stand out and grab the Searcher's attention. Often for competitor or big paid web analytics tool queries where I have a snowball's chance in a hot place of standing out.

    It is ironic that most big companies (with so many assets to leverage) are pretty bad at this. So you win! :)

    Also Google (I work there) Local Business Center is really good: http://www.google.com/local/add If you are a small business then this is one more important arrow to have in your quiver!

    .

    #4. Can you look at your competitors sites in the analysis tools you have discussed?

    Yes.

    But first. . . . it is important to realize that you need to have two skills before you look at competitive intelligence tools:

    1. The ability, ironically, to look beyond the numbers that are provided to you by these tools (because they will never be exact).

    2. The ability to be see what is there and the flexibility to look elsewhere if what you want it not there. I spend time understanding how each tool capture's data and use the best tool to get the best answer (because no tool is God's gift to you).

    If you meet the above two requirements. . . . .

    I love using competitive intelligence tools because they give me a perspective and context that is simply missing from Omniture or WebTrends or CoreMetrics or the clickstream tools.

    In the search context here are some of my favorite tools and what I use them for.

    Insights for Search:

    I adore I4S because it is perhaps the most comprehensive "database of intentions" thanks to providing us all with access to worldwide Google organic search data.

    Use it to understand the latest trends in your category. For example: "How is interest in the computer security category (All Categories -> Computers & Electronics -> Computer Security) and what are the top 100 search terms and the fastest rising brand names / products / searches in that category?"

    Use it to identify opportunities. "What states do people search for credit cards the most? What states do people search for Visa credit cards?" Oh look the states with really high credit card searches don't have really high visa card searches, maybe we should do some offline advertising!

    Use it to time your campaigns. "When should I have started SEO and PPC campaigns for Italy Tours 2010?" In April 2009!! That's when people first started looking for them. Now go plan for 2011.

    Helpful article: How to use Google Insights for Search.

    Ad Planner:

    This wonderful tool is really built to help you do better display advertising. You log in and you have the delightful ability to do demographic (male, female, age, education, income etc) and psychographic (baby boomers, extreme sports fan, household decision makers, luxury goods consumers, moms etc) segmentation. You can hone in precisely which websites most likely contain your desired audiences. Show them relevant ads and get clicks!

    But in the search context there are two things that you use this tool for.

    Type in any website you want, expedia.com in my case, and checkout the site and search affinity data:


    [If you don't see the image above, turn off your ad blocker.]

    "The affinity score estimates how many times more likely you are to reach an audience who visits a specific site or searches for specific keywords versus an audience on the internet overall." Source.

    Sweet 'eh?

    Second, click on the tab that says Search by Audience and then the Keywords Searched button and now you have an ability to use search behavior to identify audience pools.

    To use the examples of my beloved Indianapolis Colts (go Colts!!!). . . . I have an ability to type in a bunch of related keywords (the tool suggests most used ones) and find out which websites are most likely to be visited by people who search for these keywords:


    [If you don't see the image above, turn off your ad blocker.]

    At the top are keywords I typed. On the bottom are most commonly searched keywords, I can choose these if I want.

    I hit ok and then sort by Comp Index, to ensure I sort the data by the highest audience concentration (audience that searches for all things Colts in this case).

    I can use this search and web data to identify where audience I am most interested in exists. I can use it to find out the keyword data for those sites. I can use this to identify sizes (visitors, page views etc) of those websites.

    Nice right? Actionable too!

    Helpful article: How to use Google Ad Planner.

    Compete.Com:

    Compete is a paid tool (and it only contains US data). I really love using it because of the wealth of search data it can provide, at an affordable prices.

    [I have had a complimentary Pro account for the longest time thanks to the nice people from Compete, that might bias my opinion. Other than that I have no other affiliation with Compete.]

    In context of Search I use the data for. . .

    1. Identifying what are the top referring keywords for any site that I am interested in:

    Above data for www.clickequations.com (the paid search analytics company I am on the advisory board of). Of course when you log in with a paid account you would see rest of the data like paid and natural search split for each keyword and time and what not.

    Craig will not be happy that he ranks only #12 on the keyword list! :)

    I can either use this data to go after keywords that are not currently referring traffic to ClickEquations (more for me!!) or I now know what keywords I need to target to take ClickEquations down in my quest for world domination! Ha!

    See how focused you can be with data?

    2. Identifying share of search for a keyword:

    In this case I would like to own the pear fruit market, though at the moment I only own two trees. So I go into Compete to find who my current competition is (above exact match data for query "pears"). I can get lots of details about volume, paid and organic share, what percent of traffic comes to a site from that keyword, etc etc.

    Now that I have a benchmark I can go about my super awesome kick butt SEO efforts and one way I know I am winning is to check this report in a month or two (or three weeks after whenever I think I am done). If I show up here I know I am having a impact.

    These are just three of the many tools I use. There are a whole lot out there that sometimes give you similar data to the above three, or often give you a lot more. Just remember that there is a lot you can learn from what is going on in your ecosystem and at your competitors.

    Ok now your turn.

    Got a couple tips you want to share with us about how best to do SEO for B2B sites? How would you measure success of SEO efforts spent on a page on your website? Would you use any of the four ideas I have suggested? Care to comment on how to do SEO for crowded industries or for keyword categories where one or two players seem to dominate? What is your favorite search competitive intelligence tool?

    Please share your tips / best practices / comments / critique.

    Thank you.

    Dear Avinash: Search / SEO Metrics & Analytics Questions + Answers is a post from: Occam's Razor by Avinash Kaushik

  • January 12, 06:11 PM

    Amazing lean startup resources

    A year ago, there was no lean startup movement. The term was known by maybe a few dozen people. Being an evangelist for these ideas earned me a regular diet of funny looks and patronizing comments. At that time, my wildest dreams did not include even a fraction of what's happened since.

    I continue to believe that the explosion of interest in the lean startup has very little to do with me. Rather, I see it as a reflection of a worldwide openness to new ideas about entrepreneurship. Recent economic events, technological change, and the rapid diffusion of information about the old models have combined to help us all realize just how important entrepreneurship is - and just how little we really know about it.

    Beyond my own efforts on this blog (and more), there is now an amazing variety of resources for lean startup practitioners. For those that are following me on Twitter, you've probably seen many of these. But I wanted to create a centralized directory. If you are attempting to apply lean startup ideas in your own business - you are not alone.

    The Lean Startup Wiki (hosted by long-time lean startup pbWorks) contains a number of resources, including links to case studies, meetups, tools, and people who have volunteered to help. It's a wiki, feel free to consume and enhance it.

    Rich Collins organized the Lean Startup Circle mailing list, the most robust discussion forum for lean startup ideas anywhere, with over two thousands members already. For the many entrepreneurs that send me cold emails asking for me to review a business plan or answer a strategic dilemma: I'm much more likely to answer if you've already tried getting an answer on the mailing list. You'll probably get a better result, anyway.

    The #leanstartup hashtag on twitter has become a firehose of information, but seems to feature great new links almost every day. I also use it to collect feedback from all my talks and presentations, so it's a great place to find out what real people think about the ideas.

    Rich also organized the first Lean Startup Meetup right here in San Francisco. The SF Meetup now has over five hundred members, and has spawned many other meetup events. There's probably one in a city near you. Some of the most active: SF, New York, DC, Chicago - but there are many more listed here. I also recommend SKMurphy's excellent Bootstrappers Breakfast series, which is now in multiple cities. Not coincidentally, they were one of the first organizations to host me as a speaker.

    If you want to create or join a meetup near you, just leave a note in the appropriate section of the meetup directory. There are efforts underway in more than a dozen cities to start a regular meeting. If you need a first speaker, I'm happy to join by skype.

    There are also an impressive array of bloggers writing about these ideas. When I first started blogging, the startup blogging mafia immediately came to meet me and find out who I was: Dave McClure, Andrew Chen, Sean Ellis and Venture Hacks. My success is due in no small part to their early and enthusiastic endorsement. And Steve Blank (a long-time mentor) has made the leap to blogging in impressive fashion.

    Yet beyond these usual suspects are a huge number of up-and-coming bloggers, most of whom are practicing entrepreneurs willing to share their lean startup stories. Some of my favorites: Ash Maurya (whose Achieving Flow in a Lean Startup was one of my favorite posts of 2009), Brant Cooper, CindyAlvarez, Laura Klein, Kevin Dewalt, Giff Constable - and I must be missing many more. Have a favorite who I overlooked? Please share in a comment.

    Last, I've tried to keep this blog updated with events, slides, audio, video and books that are helpful as well. 


    Did I miss anything? Please feel free to use the comments on this post to share any and all resources you've found helpful. Most of all, thank you for your continuing support. Together we can change our  industry for the better.

  • January 20, 10:10 AM

    Boxee Payments

    Well I'm stuck at the Virgin America terminal at JFK this morning. Due to the stormy weather today in SF, my flight has been pushed back by three hours. Fortunately, I've got my laptop, wifi, my sleeper hoodie with headphones cranking, and some interesting stuff to write about.

    Our portfolio company Boxee announced its payments service this morning with this line:

    Users want to see more content on Boxee. Content owners want to be paid for what they produce (whether that’s TV Shows, movies, music, or applications). We don’t believe these are conflicting interests.

    Contrary to what Boxee's competitors have been telling big media for the past year, Boxee aren't pirates. They have always respected rights holders and their desires to find a new business model on the open internet. And this payment platform should make that abundantly clear.

    Here's how it will work:

    users will be able to make purchases with one click on the remote. The content partners we launch with will offer shows, movies and channels that were previously not available to Boxee users. The content owners will be able to package and price as they wish, including pay-per-view and subscription. Content partners will have the flexibility to decide what they make available, whether it’s premium content, content from their existing library, or extras that will never make it “on air”.... Boxee will charge a small fee (i.e. lower than the 30% charged by many app stores) for transactions which we enable. 
    For those who don't know, Boxee is free open source software that you can download and run on Windows, Mac, and Linux powered devices that are connected to your TV. Boxee's software is also free for consumer electronics companies to build connected devices and TVs for the family room and living room. I like to think of Boxee as "android for TVs."

    I watch my kids and here's what I've seen. There is almost no difference between a laptop and a TV to them. They move seamlessly between the two. The only difference is what content is available on each. What do they want? They want all the content in the entire world available to them on their laptop and their TV. They want them to be the same thing. And they are very willing to pay for content. What they are not accepting of is content owners prohibiting them to watch what they want to watch where they want to watch it.

    The new model for entertainment is "over the top" and it's going to happen. As Avner Ronen says in the Boxee payments blog post:

    It’s our belief that the Internet is ready to become the 4th method of distribution for broadcast & premium content after Cable, Satellite, and IPTV (FiOS, u-Verse, etc.). In the case of Satellite and IPTV, it took an act of congress to open up these delivery methods. This time it’s people who are demanding this change.

    If you are a content owner and want to partcipate in this new open model for content distribution, either free and ad supported or subscriptions powered by Boxee payments, please reach out to Boxee. They will be happy to help you make the transition and make money doing it.

  • January 06, 04:13 AM

    Five Sweet Web Analytics Resolutions To Kick It Up A Notch

    The new year is such a wonderful time. Wonderful smells in the air. The world is full of hope. Unachievable things seem achievable and are being polished into shiny resolutions. World peace seems within grasp.

    As we spring to action full of passion I wanted to share with you all a short list of things that will expand your little world of online marketing & web analytics.

    We all have a tendency of getting caught in a rut, using the same tool to do the same things and spew forth the same data. Change is hard, even if we know that we should be executing a multiplicity strategy to win in the web analytics 2.0 world.

    Before all the excitement of the new year wears out, here are five simple things I would love for you to try so that your company will have a glorious truly data driven 2010!

    #1: Don't suck.

    Seems obvious. And yet in our quest for ever more hard problems to solve we forget that the number one goal of every website is not to suck. Especially at the really simple and basic things.

    At a recent conference there were three keynotes.

    One was extolling the wonderfulness of their multi channel campaign tracking. When I went to their website it was a 100% flash website with a constrained small size where it took too much looking to click on anything and then too much scrolling to read anything and unclear calls to actions (if any). That's sucking. No amount of great multi channel tracking will save this company, they suck at the basics.

    The second was about predictive analytics and how using massive integrations between online and offline databases they had accomplished some really cool reporting of data (and make no doubt the IT work done over 18 months to accomplish this was cool). Their home page is a mess. 24% of the content covers what any visitor might want, rest is the company shouting at you (in many annoying ways). That's sucking.

    The third was about how to create data driven cultures and how this person had created a impressively big cross functional team across multiple countries and standardized on Omniture after a lot of work over two and half years. I did a search on some of their products and they did not have page one search listings (on Google or Bing) for what should be their head terms. (That's sucking.) They did have PPC ads, which I click on the ad for specific product they land me on generic nonsense pages. That's sucking.

    I share these stories to illustrate vividly how we in the web analytics world get lost in our data and Omniture and Google Analytics and reporting and lose sight of the the basics and the customer experience.

    It is important to realize that if you suck nothing else matters. Not your api driven integrated massively multi channel attribution analyzed campaign lifetime databases. That is not going to save you or your company.

    Before you attempt the hard make sure that you do all the standard stuff to ensure your company has a fighting chance to win.

    Here are some tips to inspire you:

    • I LOVE looking at the bounce rates for the top 20 landing / entry pages to the site. Find the losers, fix 'em. These guys are so bad they could not even get one click from the visitors.
    • Sit down with the owner of the top ten pages to the site and look at them. I mean really look at them and ask this question: "What the heck are we trying to do with each page?" Make sure there is a clear answer (and a match between Customer Intent and Webpage Purpose).
    • Check the load time of your important pages. Use something simple like: www.WebSiteOptimization.com Or whatever complicated tool you have.
    • Sign up for your websites campaigns using your personal email address. See how the emails look. Relevant? Personal? Click on the links, what to you see on the landing pages? Fix!
    • Create a funnel for your cart / checkout / lead submission process. Find the biggest abandonment page. Fix it.
    • Ask your Finance department where most money is being spent on the web. PPC? Affiliate? Display? What? Take a week to segment that data and find out how to save 10% of the cost.
    • Count the number of links on your main pages. I mean count them. There are 98 links on a travel site I am looking at right now, on the page for a hotel in Chicago. 98! This is a top site.
    • What are the analytics people doing if they are not helping the product page owner figure out how to kill atleast 50% of those links on a product specific page. There should be one link: Search for Hotel or Make Reservation! Do this for your site.

    • Fix the 25 things Dr. Pete lists in this delightful checklist: 25-point Website Usability Checklist.

    There are so many ideas. I hope that before you go for massive web analytics glory that your use your wonderful powers first to make sure your site and customer acquisition strategy does not suck.

    PS: Bonus tip: Make sure you visit your website once a week, atleast.

    #2 Learn basic statistics.

    The days of tools and reports simply puking data out are rapidly reducing. No longer can tools or "analysts" just puke 15 metrics on a report and hope to survive.

    Web Analytics tools are starting to become smart (see: Analytics Becomes Intelligent). Data is starting to truly get numerous.

    For all of the above reasons it is becoming ever more important that you are know atleast Statistics 101. You don't have to be armed with the knowledge of how to create various models or be able to jump into SAS and get naked with it. But you are going to have to know what a mean and a median and r squared and standard deviations and Z scores and confidence intervals and all that lovely stuff is.

    If you have not been exposed to statistics perhaps you can take a class at a local community college or university. Many employers will pay for ongoing job relevant education.

    Alternatively get one of the simpler books on the topic and immerse yourself in self education. Regardless of if you are a novice or an expert I think one of the best books to start with is The Cartoon Guide To Statistics ($13). A cartoon book? Yes. It is quite good.

    Once you know statistics 101 you'll find that you'll think of data analysis differently and you'll get better at finding that proverbial needle of insight in the haystack of data. Knowledge of statistics is a key arrow to add to your analytical skills quiver.

    Hello statistical significance!

    #3 Try one (or two) new usability / VOC tool/'s.

    My passion for the customer is, as they say, legendary!

    Part of it is the humility I have developed at the powerlessness of clickstream data to answer all the needed questions. Part of it is that there are just so many darn good options out there to listen to our customers.

    So this year why not try one of the newer more powerful and yet cheap usability analysis tools?

     

    Here are some tools that are pretty cool and unique:

    • Five Second Test. I absolutely love the idea of collecting "first impressions" from current customers, employees or just randomly selected people. Within thirty seconds you can take a screenshot of your lovely home page or landing page, upload it and for free get feedback from real people.
    • 4Q / Kampyle / UserVoice. Each of these tools does something completely different, and yet each allows people to type things that you can read and be wow'ed or saddened by. Why not try one of these tools this year and truly get in touch with your customers and a real and meaningful way?
    • UserTesting.com. You are not a small enough company, or a big enough one for that matter, to do usability testing. This is usability testing for ultra cheap, $29 per person. Set out the tasks, identify your audience, test happens, you watch the video and read comments, you cry, you fix things, you become rich.
    • Also checkout Feedback Army.

    • WebSort / OptimalSort. The information architecture on most website is terrible and the reason is that company employees create it for themselves. A great option to hear from the customers was to do card sorting studies. Problem? Expense! Not any more baby. Both these tools are quite affordable, all online and in a fraction of the time it would take to do a offline card sorting study you can get the key data you need. Sweet.

    You don't have to do all of the above. But you do have to listen to your customers.

    In 2010 Consider trying just two tools listed above that you have not used so far. I promise you that you'll want to give me a big hug the next time you see me.

    #4 Try one new competitive intelligence tool.

    I practically have a illicit love affair with competitive intelligence. And I am not embarrassed!

    If I ever come to see your company, or you see me presenting publicly, then you have seen me present data about your company / industry and then proceed to say nice / not nice things. There is just so much gold out there to be discovered.

    Here are some tools for you to try, ideas for analysis you could do:

    • Compete.com / Trends for Websites. I love the depth of data now available in both tools for free (even if you use just the free part of Compete). Index your overall performance against your competitors.
    • Where do people go after they leave your site? What are the top five referrers for your competitor? What are the top sites that get traffic for the word love? All free from Compete.

      People who visit my site, what other sites do they visit? What are the things they search for? What's the difference between US traffic and India? All free from Trends for Websites.

    • Google's Search-based Keyword Tool. If you have never explored the long tail for your website (if you are a medium to large site) using SbKT you might be committing a crime. If you have never taken a list of keywords AND the landing pages recommended by SbKT where you have zero impression share and given it to your SEO team then you should feel bad. There is so much here.
    • [Learn how to use SbKT here: Monetize The Long Tail of Search.]

    • Google Ad Planner. Some display / banner ads stink because they are just terribly produced and blink and annoy you with sound and do insane things when you move your mouse over them inadvertently. Most display ads stink because they are not relevant / well targeted. Make sure that is not your ads. Use the Ad Planner to hone into the exact sites where you can find your audiences.
    • What sites are visited by: Men who are in the market for engagement rings. Women who are interested in the NFL. Young adults who are looking to buy net books. Affluent 100k+ folks or comic book buffs or brides to be.

      Now go buy advertising on those sites (from any ad network) and earn a higher ROI on your campaigns.

      [Learn more about Ad Planner: Competitive Intelligence Analysis: Google Ad Planner]

    These four tools should keep you busy for a long time. Don't go at it all at once. Ask your boss's boss what his next 90 day priorities are, find the tool above that might have the insights, go on a honeymoon with it.

    #5 Identify two new micro-conversions and goal values for each.

    The road to web analytics glory (and a promotion for you) runs through the Micro Conversions path.

    I am absolutely convinced that we don't get the love that we deserve from our company leaders because (even if we get beyond data puking) we rarely quantify the impact of all of work that the website is doing.

    During Q1 make it your personal quest to identify two new micro conversions for your website (many ideas in the preceding blog post).

    Now make sure, and this is absolutely key, you take one more step and quantify the economic value of each micro conversion (instructions and ideas: pages 159 to 162 in my new book Web Analytics 2.0).

    That economic value will help you arrive at the number on the right, $83,848. That number will finally help you understand the complete value your website is adding to your business (only $21,454 is from the Macro Conversion). That number will allow you to measure your campaigns with a level of accountability that will be supremely awesome.

    If you do nothing else on this list (I hope it does not come to that), please make sure you do this item. It is that important (especially if you are a non-ecommerce b2b government peaceful protest photo sharing website).

    For the true Analysis Ninjas let me share one bonus item, one thing that will put even them above the top. . . .

    Bonus: #6 Measure one thing that is "intangible".

    The hardest thing to do in online analytics is to measure the intangible. How did people feel about the website experience? What was the positive brand lift? Did the unaided brand recall improve 60 days after the campaign (online or offline)? And more such questions.

    Each is really hard to answer, one must think differently.

    Here is a post with seven different strategies: Brand Measurement: Analytics & Metrics for Branding Campaigns.

    As an Analysis Ninja go all out on three of them this year and take your business to the next level of measurement and insights.

    Good luck ya'll!

    Ok now your turn.

    Care to share examples of sucking that you have killed on your websites? Got a creative use of statistics in your web metrics practice? Which is your favorite online customer listening strategy? Have you had success with quantifying goal values for your micro conversions?

    What is your company's online, or online analytics, new year resolution?

    Please share your thoughts via comments, thanks much!

    Five Sweet Web Analytics Resolutions To Kick It Up A Notch is a post from: Occam's Razor by Avinash Kaushik

  • January 05, 01:26 PM

    Henrik Sedin NHL's first star for December

    The honchos at NHL headquarters apparently have no problems separating Henrik from Daniel Sedin.

  • January 02, 10:13 AM

    Areas Of Interest

    A few days ago, I exchanged emails with a journalist friend. She said the following, "I'm just wondering which sectors/investment areas/types of start-ups you think will be exciting investments in 2010, and which you're staying away from because they're over-hyped, not yet ready, etc." 

    Today I sent a friend in the VC business an email outlining some areas I wanted to focus on this year so we could find some things to work on together.

    In thinking about those two events, I decided I should just post the answers right here. So here goes:

    I should say that this is my view, it probably reflects the views of my partners but I haven't shared this with them so I can't be sure. This is not an attempt to guess what my colleagues in the venture business are looking at. I don't think very much about that anyway. Every partner and every firm has their own investment thesis and that's great. I don't think it makes much sense to think very much about what others are doing. Focus on what you are doing. This is what I'd like to be doing in 2010:

    1) Mobile: I am very excited about Android. As much as the iPhone has been transformative, it is still a tightly controlled environment. Android opens up mobile in a way that it can begin to look and feel like the web. Android will be on many handsets and many carriers. Developers can work with the source code if they want to. Apps don't have to be cleared by Google to run on Android phones. I could go on and on. These might not seem like big things but they are huge. Mary Meeker said in her mobile internet report that the mobile internet will likely be at least twice as big as the desktop internet. I think that's a safe bet and I would venture that it could be well north of that.

    2) Mobile What?: We believe that we should focus on things you can do with a mobile web service that you cannot do on a wired web service. My partner Albert wrote a post about this last year and the conversation/comments on it are very enlightening. Go read his post and the comments and you'll see what kinds of things we are thinking about/looking at in mobile.

    3) Gaming: I believe gaming is the most powerful form of entertainment and education right now. I see it with my kids every day. Gaming is becoming social and our portfolio company Zynga is the leader in social gaming. Gaming is also becoming mobile and the most popular apps across all app stores and operating systems are games. One area of gaming I am particularly excited about is augmented reality games. Augmented reality according to wikipedia is "a term for a live direct or indirect view of a physical real-world environment whose elements are merged with (or augmented by) virtual computer-generated imagery - creating a mixed reality." When I explained augmented reality to my son Josh, he said "do you mean me and my friends could run around the park shooting each other with our iPhones?". Well I hope we can come up with better augmented reality games than Tag and real life Call Of Duty but that's the idea for sure.

    4) New forms of commerce and currency: I wrote a post last week about Etsy and the San Telmo markets in Buenos Aires that explains how the current e-commerce model on the internet is limiting and outlining the work we have yet to do to realize the potential of commerce on the web. Etsy is doing its part to move the commerce model forward and I am proud of that company and our investment in it. But there is so much more commerce that needs to be brought natively onto the web. Some of that will be new forms of commerce and some of that will be new forms of currency. I am excited about both.

    5) Cloud based platforms and APIs - Many web services have APIs today. A good example is the Twitter API. These APIs have become development platforms in their own right. On top of that, Amazon and others are offering very robust cloud based platforms for developers. The combination of these two trends means that modern web and mobile development is being done on top of cloud based services and APIs. Until recently, we had not been interested in services aimed at developers but the emergence of cloud based platforms and open APIs is changing that. We've made two investments in this sector to date, MongoDB, a cloud based open source datastore, and Twilio, an API that allows web developers to access telephony resources from the cloud. Developers are the new power users. If you cater to them, you can build a large user base with significant network effects. And that is one of the key things we look for in our investments.

    6) Education and the Energy/Environment: We've been looking at these two verticals for the past year. We've only made one investment to date, AMEE, which is a cloud based API for recording and measuring energy and carbon consumption. But we have not lost any of our interest in these verticals, which we believe are being impacted by the global open internet. We don't believe in making investments until we have done our homework, analyzed the sectors, and developed a thesis about where we want to invest. We are well on our way to doing that and I hope we'll do more in these two verticals in 2010.

    So these are the six areas I'll be looking closely at in 2010. The first two are really one and the same, so it's five areas; mobile, gaming, commerce/currency, cloud platforms/APIs, and eduction/energy/environment.

    In the six years we've been actively investing under the Union Square Ventures brand/platform, I've led/managed thirteen investments. So that's about two per year and that's the pace I like to work on. So five sectors, two investments means I won't be making an investment in each sector this year. We have three partners in our firm and we generally make six to eight investments per year as a firm. We may be able to make at least one investment in each sector as a firm. That would be a nice goal.

  • December 30, 11:27 AM

    Coyotes nip Canucks where it hurts in 3-2 shootout loss

    The Vancouver Canucks finally got their loser point but squandered a terrific effort from goaltender Roberto Luongo here on Tuesday.
  • December 28, 03:23 PM

    The Morning Skate: Salary Cap Killers and Philly Dogs

    With the N.H.L. season nearing the mid-point, it's good time to look at both surprises and failed expectations more seriously.
  • December 21, 07:31 AM

    Analysis Ninjas: Move Beyond The Top Ten. Find Love (/Insights).

    You know what is the one thing stopping you from finding truly actionable insights from your web data?

    Web analytics gems lie deep in the data and we spend our lives looking at the top ten rows of data.

    It does not matter which report you look at. Affiliates. Products sold. Referring URL's. Pages viewed. Search keywords. Promotions. Geographies. Really pick any report with any dimension you want to look at, we spend our time (and valuable space on our dashboards) looking at the top ten.

    We look at the top ten rows of data because:

      1. Too much data from our web analytics tools.

      2. Lack of clarity from our business leaders about what the site is solving for.

      3. Not enough hours in the day to overcome challenge #1 and #2.

    But if you just look at the top ten rows of anything here are the two corrosive problems:

      1. The top ten of anything rarely changes (with the exception of hourly changing content – news – sites).

      2. The top ten only focuses on the head, while the magic is in the long tail of anything. Magic related to finding challenges in your business. Magic related to finding opportunities. Magic that will help identify things you can actually action.

    Allow me to make the case for you to look beyond the top ten rows in your reports by sharing three short stories. In each case I request you to look beyond the specific request and tool, rather focus on the analysis and how you could possibly apply it. I hope is to inspire, not to prescribe.

    For example take a look at this report. . . .

    I am sure when you look at it now it appears all mysterious, full of potential. You can't wait to take it out for a first date and then another and by the third date if you do the same old thing it gets boring. You are done looking at the bounce rates and time on site and conversions of these keywords. In the best case scenario you have even optimized landing pages. Good.

    The first week's over, now want? Why keep reporting the top ten keywords on you Executive Management Global KPI Dashboard?

    Look at the top of that table. For this website 86,837 visits came from 8,939 keywords!

    What's going on with the other 8,929 keywords?

    We never bother with them both because it is really hard to look at more than 10 rows of data. Harder still to look at 30 or 50 or 70 rows of data. Not only do we have a hard time interpreting insights from lots of data, we can't actually physically look at that much data and find insights.

    Last month this blog received 40,662 Visits from 26,137 key words. The top 12 keywords accounted for 5k visits. The other 26,125 keywords accounted for 35k visits! By analyzing just the top ten see how many visitors I would be ignoring?

    Here are three techniques I use to overcome the trap of the top ten rows. . . .

    1. Advanced Table Filtering.

    In the past we all used the standard reports that our web analytics tools churned out.

    I don't do that any more. If you show me a report and it is not a custom report that you have created to better pull relevant kpi's into one place then please know that I will think less of you.

    A sign of non-laziness is that you bother to atleast create custom reports. A best practice is to pull atleast some input metrics (Visits) with some attribute metrics (% New Visits), have something that denotes customer behavior (bounce rate) and it is criminal not to have atleast a couple outcome metrics (goal conversion rate, per visit goal value).

    That best practice gives me this report for my search keywords. . . .

    [Click on the image for a higher resolution version.]

    It is a useful report that helps me understand performance much better than the standard reports from Omniture, Google Analytics, WebTrends etc etc.

    But remember I have twenty six thousand keywords referring traffic to this blog.

    I want to very efficiently look through them to find something useful.

    I want to locate my most important brand terms that perform magnificently for me. To accomplish that I click the link called Advanced Filter under that table and do this. . . .

    I move beyond the limitation of the top ten rows by creating a simple inline filter.

    Find keywords:

      containing "avinash"
      where the "per visit goal value" is greater than $1.7 (a higher bar since the average is 1.3) and
      the Goal Conversion Rate is greater than 10% (again another high bar compared to the site average)

    Notice that I can only run a smarter query because I had created a custom report, without it I would have to use the "lame" metrics that I might get in the standard report (or immediately proceed to extracting all the data, all metrics and spending next four hours in excel doing what I can in two seconds in Analytics).

    In a second the table transforms into. . . .

    [Click on the image for a higher resolution version.]

    You know what's in the table?

    Keywords we should make love to because regardless of if they bring a lot of traffic or little, they hugely deliver to the bottom line. Making love might be too small a emotion when you realize compared to a site average of $1.3 the per visit goal value is $5.5. And look at that conversion rate!

    Also notice up top. . . I quickly went from tens of thousands of keywords to just 193 I should focus on. I need to analyze these keywords, search engines, landing pages, products sold, leads received, and so much more to figure out:

      1. what is going on here that is so right that it works like magic and
      2. how much can I replicate the lessons learned

    Far too often we focus on our losers. Here I start by focusing on winners and see if I can do more of what I know already works.

    I could just as well have mined my data to look for

      people on non-branded terms
      people who come on every variation of the names of my two books
      people who come from China
      people who use a cluster of terms I consider most competitive or. . .

    The limit to the data I can mine (and I use that word loosely here) is the imagination I have (or better put: the intelligence I possess about important business questions).

    So do this. Use inline advanced table filters to go from tens of thousands of rows to just a few that you need to focus on.

    Yes you can absolutely do this in Excel. But it will take you five times the amount of time and effort required because. . . please pay attention. . . in this case you are querying the entire dataset of your website and in Excel you'll keep going back and forth to get more data or dump it or write more complicated queried or. . . you catch my drift.

    Advanced Table Filters can be used in any report in Google Analytics (Yahoo! Web Analytics also has a very similar feature, actually YWA had it before GA! :)).

    The one limitation of the approach is that you'll more optimally analyze your known knowns. You'll even get to understanding your known unknowns. But not your unknown unknowns.

    2. Use Tag Clouds.

    For pulling lots of data from lots of rows all together into one place I do so love tag clouds.

    Download all your keywords into a text file (twenty six thousand or so in my case) and upload them into Wordle and bam!

    [Click on the image for a higher resolution version.]

    O M G!

    Did you think that by doing something so simple you could get such a quickly glance-able view of so much data?

    I love search keyword tag clouds because they can tell you about the health of the company when it comes to search.

    In my case, above, for example I LOVE the fact that above and beyond everything the word Analytics dominates it all, and what makes me happier is that the word Survey is so prominent (you all know I love qualitative data, now here is proof that my blog attracts so much of that traffic).

    I worry a smidgen that people will think this blog is about Google Analytics, it is not, so I am happy that the word Google appears atleast as much as the word Web (and variations like website and online etc). I can't drill down in wordle so easily, but I use technique #1 (above) and it turns out 30% of the time the word Google appears in search queries in the spirit of "working for google", and another 30% for queries like "google insights for search", "google ad planner" etc (tools I have blog posts on). My mind is relieved.

    See how I can understand about a strategic concern, at least a bit, using a technique as simple as a tag cloud?

    Another thing I am rather ecstatic about is the sheer diversity of the keywords in search queries. It is not my brand that dominates (boo hoo! cry cry!) but rather "category" terms (which bring the "impression virgins"). Metrics and Conversion and Data and Questions (look at that!) and Analysis and Customer and Intelligence and Bounce and Best. . . .

    That sweet spread validates some my Search Engine Optimization strategy (something I spend a lot of time on) – go for diversity and attract new people to my "franchisee".

    Or in your case it may not. It may tell you different things. The main point is it would be hard to understand some of these macro factors in your data by looking just at a table in your web metrics tool of the top ten keywords!

    Here is a tag cloud for a small company you might have heard of, Gatorade. The data does not come from them (obviously), it is from Compete. . . .

    [Click on the image for a higher resolution version.]

    I am not a SEO expert, can't underscore that enough, but everything that could possibly be sub optimal about seo/ppc is wrong with Gatorade.

    The one brand term dominates their referring search keywords. This in of itself is not a bad thing, Gatorade is a huge brand. But what it indicates clearly that their site attracts people who already know Gatorade and are "pre converted", when perhaps a greater use of the website would be to attract the impression virgins and blow them away with the greatness of Gatorade so they'll never consider Powerade or any other brand.

    Look at the diversity of keywords.

    Find any?

    People use tens and thousands of different ways to find even a web analytics blog. Look at how much different types of content there is on Gatorade.com and MissionG.com and Gssiweb.com and it is quite clear that Gatorade's tag cloud is telling a sad story.

    Finally for all the money that Gatorade is handing out to premier current athletes (and the really expensive content Gatorade has on its website related to those top athletes) only two show up in the tag cloud. One that used to be important (though he is still a big brand) and the other that sadly ran over a fire hydrant a couple weeks back. That shows how exposed the Gatorade brand (atleast online) is should something unfavorable happen to these two guys.

    I would humbly dramatically change Gatorade's SEO and PPC strategies tomorrow morning.

    It is amazing how when you have so much data in one place, using such a simple technique, that you can find some very intriguing patterns in your data, stories that might validate what you are doing right or expose everything that is wrong with your digital strategy.

    Simple but effective. Try it for your site. What do you find?

    3. Use Keyword Trees.

    This is my latest love. I mean it.

    I was so happy when I first saw it because of this constant quest I am on to take lots of data and show it on a page.

    Zach and the team at Juice Analytics have created two powerful visualizations: Referrer Flow and Keyword Tree.

    I adore that last one.

    You simply go to http://analyticsvisualizations.appspot.com click on Keyword Tree and you are on your way!

    The visualization uses the free, open and multifaceted Google Analytics API. In a few seconds you'll get something pretty and intelligent (how often have you seen those two together :)). . . .

    [Click on the image for a higher resolution version.]

    It's a tree. With branches. :)

    While in the case of tag clouds it is difficult to understand the relationships between different words that exist in your search queries, that is not the case with keyword trees.

    I was looking up the relationships for the word "avinash", image above, click for a higher resolution version. I am looking at hundreds upon hundreds of rows of data visualized all in one page.

    I can easily see long tail queries like "top 10 key metrics web analytics avinash" or head ones like "kaushik blog" or even "kaushik web analytics 2.0 pdf" (my book is not available in pdf form but now I know lots of people are looking for it and so maybe we should get it out fast!).

    I can simply walk through the various branches of the tree and it helps me understand in a very powerful way the relationships that exist in my data. It always throws up surprises (partly because of my top ten rows table driven existence I have never actually looked at so much data in such a easy to understand way).

    The fun though does not stop here. I can actually look at keyword trees using different metrics.

    In this view I am looking at the data for the keyword "tracking", the colors shown highlight the bounce rate metric for each relationship. . . .

    [Click on the image for a higher resolution version to be truly impressed!]

    Now I know the queries that stink like a skunk, the deep reds, and find some sweet ones, "event tracking" is one such word (lots of visits with very little bounce).

    But I can switch and say. . . . well our bounce rates stink so we'll not use that as a success metric :), let's use the % of New Visitors as a success metric. Ok no problem, press the button on the control panel on the right and. . . .

    [Click on the image for a higher resolution version to be truly impressed!]

    Notice the relationships change, the queries you would have paid attention to will change, what you will action will change. Just with the press of a button.

    You can also flip the size of the words. I am using Visits in both cases above, but you can just as easily go for quality (in this case) and use New Visits. I would love to see some kind of Outcome metric there, given my passionate and sustained obsession with measuring end success.

    You can do lots of true analysis, for free, with your data and get the kind of insights tables from Google Analytics and Yahoo! Web Analytics and WebTrends and CoreMetrics simply can't provide.

    Let me share two snapshots to make that point.

    I was genuinely shocked at the complexity of the tree and branches associated with the word "google". . . .

    [Click on the image for a higher resolution version to absorb the whole thing!]

    The darn thing did not even fit my laptop monitor (1440×900), and there was so much going on that it took me a while to absorb all the lessons.

    Meanwhile for the "analytics" branch I can see, at a glance, the 70 or so queries that cause the "main flare" and it gives me a peek into the the head of my visitors unlike anything else. Talk about collecting VOC (and actually understanding it!!).

    On the other hand I was quite saddened to see the report for the word "metrics". . . .

    [Click on the image for a higher resolution version.]

    Remember this blog is all about data and metrics. Yet the tree is so "shallow". Or better put it is less a tree and more a bush. Or maybe just a shrub.

    For all of the reasons I was less than thrilled with the gatorade data in #2, I am less than thrilled here. From competitive intelligence analysis I know that there is a ton of volume on Google for queries related to "web metrics", and variations, yet I have not done a good job of attracting that traffic.

    The above picture does not simply tell me that I need to do a better job of doing SEO for "web metrics", the real lesson is that I need to put in a ton of effort to attract the long tail for "web metrics" because that is where most of the volume is.

    You will probably find other lessons from this exercise on your data. Hopefully there is no doubt by now that valuable lessons do await you if you put in the effort to start switching from using tables and excel and shift to using other data analysis / visualization techniques.

    Each effort above uses something very simple and while none of them are a panacea, your understanding of web metrics data will not be the same boring self.

    Have fun.

    [Bonus Item: #4: One strategy to escape the top x rows is listed in the second half of this post, jump to just after the picture of Tiger Woods (!!): Focus On “What’s Changed”.]

    Ok… your turn now.

    What do you think of these strategies? Have you used them before? Worked for you? Have you used other data visualization techniques that liberate you from the trap of top ten rows? What tools do you use? Got models / approaches / strategies you want to share?

    We would all love to learn form you. Please share. Thank you.

    PS:
    Couple other related posts you might find interesting:

    Analysis Ninjas: Move Beyond The Top Ten. Find Love (/Insights). is a post from: Occam's Razor by Avinash Kaushik

  • October 21, 10:34 PM

    Apple Is More Valuable Than Google

    Did you notice that today Apple became more valuable to the stock market than Google? The iPhone maker now has a market capitalization of $183 billion vs. $174.5 billion for Google. What does that mean to me?

    For starters, people believe that Apple can continue to defy gravity. Secondly, when it comes to growth, people believe focus is the right approach. What do you guys think?



  • October 07, 08:15 AM

    Personal Brand Audit: What’s Your Online Visibility Score?

    This is the fourth in a series of Personal Brand Audits, where we’ll make sure you’re keeping the touch points of your personal brand effective and up to date. (See Part 1: LinkedIn Audit, Part 2: Facebook Audit, and Part 3: Google Audit).

    What is visibility?

    The hallmark of a strong personal brand online is the ability to be found when someone searches for you on the web. The first step to ensure you can be found is to create profiles on major professional networks and directories that rank highly in search engine results. Besides your “home base” website if you have one, these form the foundation of your personal brand online.

    Visibility Part I: Profiles

    1. Do you have a complete Google Profile?

    A Google profile helps you control Google results by creating a profile that shows up when people search your name. This helps others find the right information when they search for you. Create a professional page that outlines your accomplishments, career goals, and links to your blog and other profiles. Create your Google profile now.

    2. Do you have a complete LinkedIn Profile?

    LinkedIn is an absolute requirement to build visibility for your personal brand online. If you haven’t already, drop everything and read Dan Schawbel’s post, How to Build Your Personal Brand on LinkedIn. It extends your network, showcases your expertise and simplifies your job search by making your connections to other companies transparent. Create your LinkedIn profile now and make sure it is filled to one hundred percent completion (LinkedIn will guide you through the process).

    3. Do you have a complete Twitter Profile?

    Twitter is a massively popular social networking and microblogging service that extends your network, builds your brand (if used right) and increases your visibility. Create your Twitter profile now and implement the tips in Dan Schawbel’s excellent post, How to Build Your Personal Brand on Twitter.

    4. Do you have a FriendFeed profile?

    FriendFeed creates a news feed that aggregates your activity on social networks, much like Facebook’s news feed. It gives people an easy way to stay up to date with your activity on the web and ranks highly in search engines. Create your FriendFeed profile now.

    5. Do you have a Gravatar?

    Claim your Gravatar (globally recognized avatar) so that your blog comments and other online activity are associated with a consistently branded headshot. Claim your Gravatar now.

    Visibility Part II: Directories

    Directories are like online Yellow Pages for people. They rank highly in Google searches and make it easier to find the real you. Create a profile on the directories below to increase relevant Google results for your name. Make sure your profiles include your bio, headshot, a link to your LinkedIn profile and links to the other places you exist on the web.

    6. Do you have a complete ZoomInfo profile?

    ZoomInfo is a comprehensive source of business information on people that ranks highly in search engines. Create your ZoomInfo profile now.

    7. Do you have a complete Plaxo profile?

    Plaxo is an online address book and professional networking service that automatically updates the contact information of your contacts and ranks highly in search engines. Create your Plaxo profile now.

    8. Do you have a complete Naymz profile?

    Naymz is a reputation management and networking service for professionals that ranks highly in search engines. Create your Naymz profile now.

    9. Do you have a complete Classmates profile?

    Classmates is a massive directory of high school and college alumni where you can find and reconnect with old friends that ranks highly in search engines. Create your Classmates profile now.

    10. Do you have a complete Ziggs profile?

    Ziggs is a business community where you create an online profile that ranks highly in search engines. Create your Ziggs profile now.

    11. BONUS: Do you interlink your profiles?

    Link from your profiles to each of your other profiles. This is important because search engines like Google count every link to a web page as a “vote” for that page. Google results are often described as a popularity contest because the pages that come up highest in searches for your name are generally the pages that have the most credible sites linking to it.

    Because of this, you’ll want to get as many sites linking to your profiles as possible. That means you need to “interlink” all of your profiles to increase the Google rank of each. (For more specific tactics to show up highly in search results for your name, see my last post, Google Audit).

    Tally Up: What’s your Google audit score?

    Tally up your answers to determine your Visibility score. If you scored 0-4, take a few minutes right now to improve your standing. If you scored 5-7, set some time aside this weekend to improve your score. If you scored 8-10, you’re on the ball – keep up the great work.

    Here are the audit points, to recap:

    1. Do you have a complete Google Profile?
    2. Do you have a complete LinkedIn Profile?
    3. Do you have a complete Twitter Profile?
    4. Do you have a FriendFeed profile?
    5. Do you have a Gravatar?
    6. Do you have a complete ZoomInfo profile?
    7. Do you have a complete Plaxo profile?
    8. Do you have a complete Naymz profile?
    9. Do you have a complete Classmates profile?
    10. Do you have a complete Ziggs profile?
    11. BONUS: Do you interlink your profiles?

    Good luck, have fun, and remember: a little personal branding effort now pays off dividends later.

    Author:

    Pete Kistler is a leading Online Reputation Management expert for Generation Y, a top 5 finalist for Entrepreneur Magazine’s College Entrepreneur of 2009, one of the Top 30 Definitive Personal Branding Experts on Twitter, a widely read career development blogger, and a Judge for the 2009 Personal Brand Awards. Pete manages strategic vision for Brand‐Yourself.com, the first online reputation management platform for job applicants, named one of the Top 100 Most Innovative College Startups in the U.S.

    Related posts:

    1. Personal Brand Audit: What’s Your Google Score? This is part 3 in the “Personal Brand Audit” series....
    2. Personal Brand Audit: What’s Your LinkedIn Score? This is the first in a series of Personal Brand...
    3. Personal Brand Audit: What’s Your Facebook Score? This is the second in a series of Personal Brand...

  • October 04, 02:34 AM

    Tim Schafer lends some LOLs to Fallon on Late Night

    That's it, folks -- the game industry has finally made it into the bigtime! With Brütal Legend's dark overlord Tim Schafer appearing on Late Night with Jimmy Fallon leading up...