Download - Blinds.com PP
Business Model Assessment
Group 2Heather WillowAlec JonesAbraham KlimasGeorge Murray
History of Blinds.comAccomplishmentsBlinds.com Assessment
I. Think12 Dimensions, Life Cycle,
Business Model, Business Strategy, SWOT & 4 Ps
II. CreateWeb Development and Design &
Mobile DevelopmentIII. Engage
SEM, SEO, Social Media & CRMIV. Optimize
Web Analytics, KPIs & Conversion Optimization
CONTENTS
HISTORY OF BLINDS.COMJay Steinfeld, Founder, Owner and CEO
1986 – 1993, Laura’s Draperies
1994, the dot-com boom
nobrainerblinds.com from 1996 until 2004
Incorporated under Global Custom Commerce, Inc.
HISTORY OF BLINDS.COM
HISTORY OF BLINDS.COM
ACCOMPLISHMENTSINC Magazine "Cisco Growing with Technology Award“ (2000)
Ranked #107 Internet Retailer's Top 500 Companies (2003)
Ernst & Young "Entrepreneur of the Year“ (2006)
AMA Houston Marketer of the Year (2009)
Houston Business Journal #1 Best Place to Work for companies with 101 to 500 employees (2010 – 2012)
COO Steve Riddell wins Gold Stevie Award for “Senior Sales Executive of the Year” (2012)
ACCOMPLISHMENTS
Online sales started at an average of $500/week on nobrainerblinds.com
Sales rose to $15 million by 2004 (1st year of blinds.com)
Jump of 153.33% in sales to $38 million in 2005
$45 million in 2006
$75 million in sales with only 110 employees in 2010
Sales grew to over $110 million in 2012
I. THINK“Business Innovation is About New Value, Not New Things. Innovation is relevant only if it creates value for customers — and therefore for the firm.” – Mohanbir Sawhney
The marketplace is becoming more segmented & moving toward more niche products
More competitors are offering targeted products, requiring faster speed-to-market
Some traditional companies may not survive radically innovative change
Knowledge, not information, is becoming the new competitive advantage
Collins Five Stages of Decline:
Offerings: not blinds, but the service
Platform: the web & Window Shopper app
Solutions: SureFit program & free replacement
Customers: DIYers
Customer Experience: installation videos, interior designer consultations & testimonials
Value Capture: Google paid search
Processes: intensive customer service & relationship management
Organization: service center only
Supply Chain: order processing, not warehousing
Presence: now on mobile
Networking: multiple manufacturers to reduce back orders
Brand: Alliance partner site
12 Dimensions of Innovation
DANGER ZONE
BUSINESS MODEL – “E-TAILER”
Customer Value:
Customer service is priority
Free shipping & returns
SureFit, face2face, free samples
Scope:
Homemakers
DIYers
Pricing:
No inventory means no holding costs
Enables sale of a variety of high-quality products of all price ranges
Revenue Source:
Use of Google AdWords to direct traffic to website
Seeks referral revenue from installation companies
Connected Activities:
Window Shopper App
Implementation:
Steinfeld shifted strategy when he realized it was not a blinds company but a direct marketing company
A Google-esque set of Core Values that fosters innovative problem solving
Capabilities:
Leads the industry in most, if not all, aspects of service, pricing, and connectivity
Sustainability:
Customer service always seeking to improve
Reviews and word of mouth must stay in high percentage
Making sure companies deliver requested products in a timely manner
MARKETING STRATEGYTOOLS:
Segmentation
1. Geographic – global and mobile (constant)
2. Behavioral – homemakers’ response to and knowledge of home goods (inherent)
3. Occasional – those decorating for holidays, etc. (seasonal)
4. Beneficial – convenience of sizing, ordering and shipping (key marketing focus)
Targeting – Direct Marketing
Access to consumer databases, use of email marketing, radio ads (WOKV), search engine marketing (Google AdWords)
Emphasizes track able, measurable responses, results and costs from prospects and/or customers – regardless of medium
Promoting – Brand Equity
Social media – Facebook, Twitter, YouTube, Pinterest, LinkedIn
Steinfeld writes for BNET and INC Magazine
5TH P
4 Ps & 4 Cs Product (Service): not the
manufacturer but the designer
Price: no holding costs enables lower prices for designer brands
Placement: global and mobile
Promotion: Google PPC & AdWords
Customer solution: no sizing or cutting
Customer cost: free shipping & returns on incorrect measurements
Convenience: Window Shopper app gives the customer a preview, easy to navigate site with helpful videos
Communication: email marketing
StrengthsMarket leaderCompany cultureDebt freeNetwork of suppliersBrand recognitionStrong customer service
WeaknessesSEONo inventory
OpportunitiesCompetition analysisEmail marketingSmartphone app optimization
ThreatsStagnant economyCompetition closing the gap
SWOT
Helpful HarmfulIn
tern
al
Exte
rnal
The Competition:
II. CREATE III. ENGAGE
Web Development and DesignThe key to having well developed digital assets is good planningThe designs should enhance user experience and guide visitors through websites
Website Success FactorsAccessabilityUsabilitySearchabilityDiscoverability
Search Engine OptimizationA search engine friendly website structureA well researched list of key phrasesContent optimized to target those key phrasesLink popularityUsage data
Search Engine MarketingSEO + PPC = SEMBoth organic and paid search results (the two arms) by way of important keywords are critical to maximize ROI
Accessibility Considerations
TWO
Two Concerns:Technical – browser capabilitiesUsers ability – language or sight problems
Blinds.com is Firefox, Google Chrome, Safari, and Internet Explorer compatible
CHECK
Usability Considerations – Staying “Above the Fold”
Standard Conventions:• Logo in top left
corner• Main menu bar at
top in contrasting color
• Search bar at top right
Customer service centric:• face2face consultations• Phone number for those
who like talking to a real person
• Quality reassurance indicators
Search Engine Visibility – SEO & SEM
“blinds” only “blinds.com”
Above the fold search returns for “blinds” and “blinds.com” on Bing & Yahoo
Social Media & Discoverability – Links & CRM
MOBILE DEVELOPMENT & ENGAGEMENT
IV. OPTIMIZE
Web Analytics
KPIs
Conversion
Optimization
ANALYTICS & KPIsHow engaged are people in blinds.com?
Alexa.com Traffic Ranks:All change is over the course of 3 months (Sept – Nov)
Daily page views per visitor: 7.50 (up 5%)Daily time on site: 8:45 (up 4%)Bounce rate: 26% (down 12%)
Global rank: 37,543 (down 2,645)US Rank: 7,883
Who visits blinds.com?Dominated by females (highly overrepresented while males are highly underrepresented comparable to total internet traffic)
Tends toward college degree holders while graduate degree holders are underrepresented
Site visitors from home are vastly overrepresented
Audience geography: 83% from US, 5.9% India, 1.5% Spain, 1.3% Australia, 1.2% Canada
Where do they go on blinds.com?
Subdomain Percent of Visitors
blinds.com 92.93%
blog.blinds.com 21.47%
prod1.blinds.com 5.78%
videos.blinds.com 2.15%
How did they find blinds.com?
18.2% came from search engines (up 21%)Top keywords:
blinds: 12.57%blinds.com: 6.39%blackout shades: 4.03%blackout blinds: 2.55%plantation shutters: 1.63%
Upstream sites: What sites did people visit immediately before this site?
Google.Com 25.1%Facebook.Com 7.5%Salesforce.Com 1.6%Youtube.Com 1.3%Yahoo.Com 1.1%
How fast does blinds.com load?1.922 seconds – 58% of sites are faster
CONVERSION OPTIMIZATION
What does this data tell us?
The basic approach to conversion optimization is:1. Gather data2. Analyze data3. Fix anything that’s broken4. Design tests5. Run tests6. Report and repeat
Metrics: 91% of traffic is realStickiness – considered sticky if stay is longer than 30 secondsBlinds.com visitors average 8 minutes on the site
RESULTSBlinds.com was fortunate to be the early front-runner in online window coverings and with innovation and a sound business model has become very profitable.
The evolution of their website and mobile app has created an ease of use that rates them highly favorable in customer service.
Search engine optimization and social media presence are helping to build stronger relationships with their customers.
Despite limited sensitive information, there is always room for improvement.
THANK YOU!