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Here’s The ‘Irresistible’ Pitch Walmart CEO Mike Duke Used To Woo His Most Important Engineer

Source: http://www.businessinsider.com/walmart-ceo-mike-duke-walmartlabs-2012-11

Walmart CEO Mike DukeWalmart may be the king of retail in the physical world, but on the internet, it’s still a challenger.

Jeremy King, a Silicon Valley engineer who built key parts of eBay’s infrastructure, joined global retail titan Walmart in the summer of 2011 as CTO of Walmart.com.

Farhad Manjoo interviewed King for his great story on Walmart’s evolution at Fast Company, and the engineer described the “irresistible pitch” that CEO Mike Duke gave him over a videoconference call, luring him into the job.

Duke wanted to become more experimental — and he was making the moves to prove it. From Fast Company:

After years of seeing his company lag online, Duke swore that digital was now a priority for Walmart. Duke had restructured the company, placing e-commerce on equal footing with Walmart’s other, much larger divisions. He had made serious investments in high-tech talent, acquiring several startups. One, a 65-person social media firm called Kosmix with expertise in search and analytics, was the impetus for Walmart rechristening its Valley operations “@WalmartLabs.”

Duke was looking for people who would revive the company’s sites and services, and energize its entire culture. He hoped to turn a company famous for rigid, coldly effective business processes into one that’s flexible, experimental, and entrepreneurial. In other words, Duke wanted to inject a bit of Silicon Valley into Bentonville, Arkansas. In the summer of 2011, King signed up as CTO of Walmart.com. “We’ve hired hundreds of incredibly talented peop! le, in S ilicon Valley and around the world,” says Duke of his aggressive moves. “We are playing to win.”

King now heads @WalmartLabs — the company’s skunkworks. He has been tasked with bringing Walmart into the rapidly morphing world of e-commerce. That means reinventing the shopping experience — both in-store and online — and facilitating Walmart’s digital transformation.

And, judging by Duke’s pitch, it looks like he has his CEO’s full support.

Read Manjoo’s full story at Fast Company >

NOW SEE: Black Friday Shopping Hysteria From Around The Country >

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Monday, November 26th, 2012 news No Comments

Greek Economic Optimism In One Embarrassing Chart

Source: http://www.businessinsider.com/chart-greek-economic-projections-2012-11

The remarkable forecasting skills of the Troika and the immense decisions being taken on the back of these ‘sacrosanct’ projections need to be put into context. We are more than happy to do that… as the chart below shows, so far so bad as the Troika has pretty much nailed it on the ‘most optimistic mean-reverting model’ ever. Not wanting to steal the jam from Europe’s donut but the forecasts are – quite evidently – a complete and utter joke. Going forward though, we are sure it’s different this time…

Greek Economic Projections v. Actual

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Wednesday, November 14th, 2012 news No Comments

Now THIS Is The ‘Right Way’ To Start A Company

Source: http://www.businessinsider.com/now-this-is-the-right-way-to-start-a-company-2012-11

noah brier james gross percolate

Ok, fine.

There probably is no “right way” to start a company.

But, if there WAS a picture-perfect, fool-proof method, it might look like Percolate.

Percolate, a SaaS solution for marketing managers, was founded by James Gross and Noah Brier in early 2011. Today it raised a $9 million Series A round and it has more than 30 Fortune 500 companies as clients. They’re each paying Percolate about $10,000 per month.

There are a few things Gross and Brier did in their startup’s earliest days that set them up for success.

  • They each worked for marketing companies before founding Percolate.
  • When they had enough knowledge and industry connections, they quit.
  • They bootstrapped until they proved their model.
  • The used outside capital to step on the gas.

Gross was a former sales executive for Federated Media and Brier worked for a marketing agency, The Barbarian Group. While they were there, they created a lot of contacts in the marketing and advertising departments of major corporations. They were also able to see inefficiencies and demands in the industry. Later, while the two were bootstrapping Percolate, everything they absorbed at Federated Media and TBG became very valuable.

Being employed also enabled the pair to save up money and bootstrap. They funded their startup themselves for one year, during which Brier ! and Gros s worked out initial kinks.

When they finally had a working model and paying clients, they sought outside capital. They used a $1.5 million seed round to accelerate growth; they didn’t waste it stumbling around and pivoting.

Of course, a lot of successful companies have been founded other ways. Zuckerberg never had a job before founding Facebook. Ben Silbermann initially set out to be a doctor, but he ended up founding Pinterest

It’s too early to guarantee Percolate’s success. But whatever Gross and Brier have done up until now, it seems to be working.

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Wednesday, November 14th, 2012 news No Comments

Why Facebook Has Banned Some People From Seeing The ‘Want’ Button

Source: http://feedproxy.google.com/~r/businessinsider/~3/omBVf-XY-vA/heres-why-facebook-isnt-letting-some-people-see-the-want-button-yet-2012-10

Even though Facebook is actively and openly testing a “Want” button, chances are you won’t be able to see it.

Intrigued since rumors flooded the internet earlier this summer, I wanted to see what the highly anticipated button looked like for myself.

I wanted to “Want” something.

Facebook is currently testing the feature with seven different retailers, so I went to Victoria Secret’s web page to check it out. This is what I found:Facebook want button

Collect? But, I didn’t want to collect, I wanted to want!

Confused, I went to the other six testing retailers (including Pottery Barn, Fab.com, and Michael Kors), but they all would only let me collect, too.

I called a Facebook spokesperson, wondering if it was something I was doing. But when I explained my wantless condition, she said, unsurprised, “Oh, that probably means you’re in the Collect group.”

You see, although everyone’s eyes went to the “Want” button in Facebook’s testing announcement, many overlooked that the social media giant is testing a “Collect” and a “Like” (yes, another “Like,” for products not people) button, too.

Users are pre-selected to only be able to do one action.

“We’re testing to see what does the best,” she said. “Who’s to say what we’re going to do in the future.” Facebook won’t say whether it will launch just one, two, all three … or none.

“As the test progresses you might be able to change, but they act exactly the same. It’s just the actual word is just differ! ent.”

Still determined to see a want button, I forced a healthy chunk of the office to go to the Victoria’s Secret page to see what button popped up. Ten people I approached in a row were also in the “Collect” group, followed by two with “Like.” (Yawn).

It wasn’t until I got to Ashley Lutz, our retail reporter (appropriately enough), that I found someone in the “Want” group.facebook want

So chances are, if you’re desperate to click the “Want” button, you’re going to have to go through a handful of friends before you find it. And enjoy it while you can, because it could easily be scrapped if the other two actions yield a better performance.

Although, the “Collect” button actually appears to offer more features than “Want” or “Like.” Taking a page out of Pinterest’s e-book, you can place the products you’re interested in in different categories like fashion, home, and shoes.

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Sunday, October 14th, 2012 news No Comments

Google tests the ‘do not track’ waters with a Chrome extension

Source: http://www.engadget.com/2012/02/24/google-tests-the-do-not-track-waters-with-a-chrome-extension/

Keep My Opt-Outs

Well, that didn’t take long. One day after agreeing to implement a do not track button as part of a new consumer bill of rights, Google has given the people what they want… sort of. Keep My Opt-Outs is a Chrome extension, developed by the Mountain View team, that will prevent advertisers from using your browsing history against you. Presumably, this function will get built straight into the browser one day but, for now, you have to go dig it up in the Chrome Web Store — far from an ideal solution. Still, a tepid step into the shallow end is better than no step at all. You can install the extension yourself at the source.

Google tests the ‘do not track’ waters with a Chrome extension originally appeared on Engadget on Fri, 24 Feb 2012 16:41:00 EDT. Please see our terms for use of feeds.

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Friday, February 24th, 2012 news No Comments

A Few Insights Drawn From The Facebook Pages Of Abercrombie, Aeropostale And More (AEO, ANF, ARO)

Source: http://www.businessinsider.com/insight-facebook-abercrombie-2011-11


abercrombie

“Although Abercrombie fans agree this Skyler cami is cute, a few refuse to pay $88 for it.”

That’s the kind of insight Brean Murray’s Eric Beder drew from comments on the Facebook pages of retail brands. Here are some more:

A&F fans also love the new warm and comfy sweats.

AE fans love the spread in People magazine and they’re digging the “Friends & Family Additional 30% Off” deal, but they’re bad about web tech problems.

Aeropostale “are going crazy” over the 40% off for “Friends & Family” and they’re also excited about the fee $25 gift card after they spend $100.

Hollister fans are buying the new sweaters, though a few object to the prices. The Huntington Beach cardigan is a “must have.”

Urban Outfitters is pissing off its target consumers with the latest fashion line. And everyone thinks those platform heels are “hideous and unoriginal.”

Now take a sneak peak at the Victoria’s Secret fashion show >

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Wednesday, November 23rd, 2011 news No Comments

How The NBA Lockout Is Killing Businesses

Source: http://www.businessinsider.com/nba-lockout-infographic-2011-11


nba lockout infographic

The NBA lockout a bummer for a fans, but a back-breaker for businesses.

Jane Hendrick put together a nifty infographic for G+ on who the lockout is hurting, and how badly.

It’s pretty concise, and does a nice job illustrating the collateral damage of the dispute.

The NBA lockout, where nobody scores and everybody loses. Let’s take a look at how bad…

Here are the five players who are losing the most: more than $1.5 million per bi-weekly paycheck

Cities are getting hammered too, especially small ones where NBA teams have a huge impact on the local economy

See the rest of the story at Business Insider

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Tuesday, November 22nd, 2011 news No Comments

Why The Newspaper Industry Collapsed

Source: http://www.businessinsider.com/chart-of-the-day-newspapers-classified-ads-revenue-2011-3

Want to know why the newspaper business has collapsed? Look at this chart from Marc Cenedella, CEO of TheLadders.com.

He shows ad revenue from help wanted classifieds dropping 92% in last 10 years, hitting $723 million last year, down from $8.7 billion in 2000. Once that easy money left the newspaper industry it was a lot harder to earn as much profit.

Cendella says it didn’t have to be this way: “Newspaper executives knew what had to be done to compete successfully in the future but were afraid to upset the people responsible for the past. It was a lack of courage, not a lack of clarity.”

chart of the day, newspapers classified ads revenue 2000-2010, march 2011

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Sunday, March 20th, 2011 news No Comments

Apple turns on iAds for iOS 4 devices in North America, right on schedule

Source: http://www.engadget.com/2010/07/01/apple-turns-on-iads-for-ios-4-devices-right-on-schedule/

Steve himself noted at WWDC that iAds would go live for “all iOS 4 devices” on Canada Day, and sure enough, they look to be popping up today. One eagle-eyed tipster has already found one within the ‘Mirror: for iPod and iPhone’ app, shown above. It’s certainly quite a bit more visually soothing than some other ads we’ve seen, but we aren’t here to judge — instead, we’d love to hear your take on it. Have you seen any iAds creep into your apps today? Whatcha think of ’em? Let us know in comments below.

Update: Looks like a Nissan Leaf iAd has debuted as well; the vid’s after the break of that one.

Update 2
: Oh, and this is just for North America for now. Everyone else will have to wait. Crushing, we know.

[Thanks, Spencer]

Continue reading Apple turns on iAds for iOS 4 devices in North America, right on schedule

Apple turns on iAds for iOS 4 devices in North America, right on schedule originally appeared on Engadget on Thu, 01 Jul 2010 13:24:00 EDT. Please see our terms for use of feeds.

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Thursday, July 1st, 2010 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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