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Showing posts with label M and A. Show all posts
Showing posts with label M and A. Show all posts

Wednesday, April 17, 2013

Just Who Uses Social Media? A Demographic Breakdown


Just Who Uses Social Media? A Demographic Breakdown

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You think you know social? How about who uses it? Well, you might not know it as well as you would have guessed.
A new study from the Pew Research Center and Docstoc shed some light on just who uses social and on what platforms. Some of the findings seem in line with what you would probably guess, but others were surprising.
If you think the smarter, more attractive sex is more socially prolific than us men, well ... you're right. Women use social media 9% more than men do. Despite having more distractions, people living in cities have the most social media activity, at 70% of the population. Perhaps it's the connectivity of large-city life.
In terms of racial and ethnic groups online, Hispanics lead the pack at 72% engagement, with African-Americans trailing at 68%, who are ahead of Caucasians at 65%. And in a strange twist, despite being somewhat economically disadvantaged, 72% of adults with annual household incomes below $30,000 use social networks, more than those with higher wages.
How about most popular social networks? That would be Facebook, with 67% of adults using the Zuckerberg-founded service. A distant second was LinkedIn with 20%, with Twitter coming in third at 16%, and Tumblr falling dead last at 6%.
Take a look at the details below:
Image via iStockphotohocus-focus

Tuesday, April 16, 2013

A Non-Negotiator's Guide to Negotiating


For most of my life, I was a terrible negotiator. I accepted lowball offers, I never demanded the raises I deserved, and I overpaid for everything. I knew that you needed to “drive a hard bargain” and “be willing to walk away from the table” if you wanted to get the best possible deal. I just never seemed to be able to do it, ever.
It reached the point that my husband actually forbid me from negotiating the price of a car, a home, or even a used toaster at the flea market. And while I wouldn’t usually take too kindly to being silenced, I had to admit that I saw his point. In a negotiation, I was the weakest link.
Two programs of research helped me to see what I was doing wrong – specifically, how I was thinking about negotiations the wrong way.

Epiphany #1

When people are about to enter a negotiation, they see it as either a threat or a challengeStudies show that people who see negotiation as a threat experience greater stress and make less advantageous deals. They behave more passively, and are less likely to use tough tactics aimed at gaining leverage, compared to the hard-ballers who feel negotiation to be more of a challenge than a threat.
This makes so much sense to me. My husband absolutely sees negotiating as a challenge. He looks forward to a good haggle. I do not. Reading about these studies, I realized that I have always seen negotiations as threatening, and just wanted them over with as quickly as possible, no matter what it cost me. Why prolong a stressful, threatening situation when you can throw in the towel and move on?
But why do I see negotiations as threats, and not challenges? To answer that, I needed…

Epiphany #2

There is more than one way to look at any goal. Some of us think about our goals as achievements or opportunities to advance – having what psychologists call a promotion focus. Others see their goals as opportunities to keep things running smoothly, to avoid loss, to do what you ought to do – this is called aprevention focus.
Promotion and prevention-focused people work differently to reach the same goal. When we are promotion-focused, we are creative, embrace risk, work quickly, and are fueled by optimism. When we are prevention-focused, we are more thorough and deliberate, more analytical, and better fueled by defensive pessimism (i.e., thinking things might go wrong if you don’t do something to prevent it.)
When it comes to negotiating, having a promotion focus will give you the clear upper-hand. The promotion-focused (like my husband) see negotiation as an opportunity to gain something, and studies show that this helps them to stay focused on their (ideal) price or pay targets. The prevention-minded (like myself) see negotiation as an opportunity to lose something – they worry too much about a negotiation failure or impasse, leaving them more susceptible to less advantageous agreements.
When it comes to getting what you want, it pays to focus on what you have to gain, rather than what you might lose, so that you can see it as a challenge (rather than a threat), and be better able keep your eyes on the prize.
Now, when I enter any negotiation, I make a deliberate effort to refocus myself beforehand. I stop and reflect on what I have to gain by getting a great deal, or by fighting for better compensation – the opportunities for happiness and growth they will afford me.
You wouldn’t believe the deal I got on our last toaster.

HEIDI GRANT HALVORSON

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Dr. Heidi Grant Halvorson, of Columbia’s Motivation Science Center, is an author and speaker.  In Succeed, she revealed surprising science-based strategies we can use to reach goals.  Her new book is Focus:  Using Different Ways of Seeing the World for Success and Influence.

Friday, April 12, 2013

These 4 Head-Smackingly Simple UX Changes Grew Sales 50%


These 4 Head-Smackingly Simple UX Changes Grew Sales 50%

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user-experience-is-more-than-buttons-and-colors
Online commerce continues to growth in the double digits every quarter, and with more money being spent online, online vendors are constantly being presented with the opportunity to increase their online sales.
The idea of spilt testing and conversion rate optimization are certainly not new, but there is a lot of room for improvement in the approach.
Split testing is a critical path item for improving the conversion potential and performance of your website, but it's not a vacuum. There are other important considerations you need to consider before you start testing – like what to test.

Known Unknowns

The easiest path is to test the obvious items, those you are fairly certain will have an impact on your conversions.
The most obvious are elements like:
These pieces of your web page have become the standard starting points for conversion testing, but what about the elements on your site that are adversely affecting conversion that you are unaware of?

Unknown Unknowns

The old saying goes that the more you know, the more you don't know. So how do you gain insight into problems you don't know about?
Observation.
It is a simple concept that is not executed on as often as it should be. Take the time, and make the necessary arrangements, so that you can watch you users use your website.
UserTesting.com is wonderful for this. It has helped us find specific problems that were directly leading to lost revenue, that we had no idea even existed.
The trick here is creating a scenario where you can play Big Brother, because you will never get the full truth from asking.
You need to let your customers navigate your web pages and conversion funnels, and pay close attention to both their mouse movements and the specific language they use to describe their behavior.

Dollars and Sense

A few months back I wanted to test a full shopper loop, from query through checkout, to see where we were leaving money on the table.
We had been running a number of A/B tests and seeing good results but this didn't give any visibility into how visitors were experiencing our site; how they were thinking about it.
Here's what we learned:
1. Cluttered Category Pages
Our category pages were too cluttered with descriptions, and actually made it daunting for our visitors to read all of the crammed description copy we had written
Before:
traffic-cones-category-page-before
After:
traffic-cones-category-page-after
2. Missing Pricing Information
Visitors were getting to our products pages with prices and add to cart buttons, but because of the layout of our category templates, they were not seeing the prices - becoming frustrated, and leaving!
The solution in this case was so simple; all we did was add a small image in the header telling users they needed to scroll down for pricing!
Before:
traffic-cones-no-pricing
After:
traffic-cones-scroll-down-for-pricing
3. No 'Add to Cart' Button
The next issue is almost laughable in retrospect, but people were missing our "add to cart" button. Why? Because it didn't look like a button, it was simply a plain text link that said "add to cart".
Directly in line with Steve Krug's manifesto, the solution was to stop making our customer's think, and make the button look like a button!
The new button now looks like this:
add-to-cart-button
4. Checkout Confusion
The final head smacking moment came while watching users go through the checkout process and submit test orders.
Between clicking the submit order button and the thank you screen there is a 2-3 second delay while the order processes, but the users don't know that! So while all of this heavy lifting of hitting the payment gateway, hitting the inventory server, etc. is all going on – the user is left staring at their screen wandering if anything happened.
This led to countless occurrences of people repeatedly clicking the submit button, clogging up the order processing functionality, and causing the shopping cart to stop dead in its tracks. It is nauseating to think about how many orders were lost due to this lack of attention to detail on our part. The fix, again, was so simple: just tell the user's what's going on – set an expectation, and here it is:
processing-your-order
So. Freaking. Simple.

Closing The Feedback Loop

Again, in retrospect these are all head-smackingly simple changes, but we never would of thought about them had we not physically watched users go through the process.
It is amazing how much actionable information you can instantly glean from watching and listening to people use your website.
The slightest little thing that has never occurred to you, your boss, or anyone else on your team – may be the one small change that is costing your money.
After making the four simple changes above, daily online sales have increased by almost 50 percent! And this is only the beginning, the real lesson here is that you can't change what you don't know – so you need to be proactive and turn the unknown unknown's into known unknowns, so you can fix them.
What are some small changes that have led to big results on your websites?

Harnessing the $9+ Billion Social and Mobile Ad Potential
Harnessing the $9+ Billion Social and Mobile Ad Potential 
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Foreign investors play large role in U.S. shale industry


Foreign investors play large role in U.S. shale industry

April 8, 2013
Source: U.S. Energy Information Administration
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Investment in shale plays in the United States totaled $133.7 billion between 2008 and 2012, as part of 73 deals. Joint ventures by foreign companies accounted for 20% of these investments.
In early 2013, Sinochem, a Chinese company, entered into a $1.7 billion joint venture with Pioneer Natural Resources to acquire a stake in the Wolfcamp Shale play in West Texas. This investment highlights a renewed trend toward foreign joint ventures. Since 2008, foreign companies have entered into 21 joint ventures with U.S. acreage holders and operators, investing more than $26 billion in tight oil and shale gas plays.
Investment in shale plays in the United States totaled $133.7 billion between 2008 and 2012, as part of 73 deals. Joint ventures by foreign companies accounted for 20% of these investments. The rest of the investments were either part of outright acquisitions—such as the Australian BHP Billiton oil company's acquisition of Petrohawk Energy Corp.—or were joint ventures among American companies (such as Hess and Noble Energy with Consol Energy) and financial institutions.
Most of the foreign investment in these joint ventures involved buying a percentage of the host company's shale play acreages through an upfront cash payment with a commitment to cover a portion of the drilling cost. Foreign investors in joint ventures pay upfront cash and commit to cover the cost of drilling extra wells within an agreed-upon time frame, usually between 2 to 10 years. Both U.S. and foreign companies benefit from these deals. U.S. operators get financial support, while foreign companies gain experience in horizontal drilling and hydraulic fracturing that may be transferable to other regions. Plus, foreign companies can operate in a stable market with a sound legal system and low political risk. In addition, exploration and development opportunities are decreasing in much of the rest of the world. While foreign companies may pay sizable initial costs through joint ventures, these deals can be considered a cost of entry to the development of hydrocarbons through the latest technology.
Most of the recent joint venture deals with foreign companies shifted from the dry natural gas plays to more liquids-rich areas such as the Eagle Ford, Utica, and Wolfcamp—a trend similar to domestic operations. All shale plays contain some liquids, but those with a higher liquid-to-gas ratio are more attractive because of the higher value of hydrocarbons that have crude oil and petroleum liquids in addition to natural gas.
Graph does not include the proposed Sinochem joint venture, as it is still subject to U.S. government approval. Investment dollars refer to aggregate expenditures over the term of the entire agreement. Dollar figures are reported for the year the deal was executed. Map of Wolfcamp play represents approximate basin location.