LetsBuyIt Blog

Nowadays I’m working on the LetsBuyIt’s database and I’m trying to be as accurate as possible concerning my predictions. The Churn is one of the big factors that I know I need to consider but it’s difficult to evaluate.

Churn rate is also sometimes called attrition rate. It is one of two primary factors that determine the steady-state level of customers a business will support.

In its broadest sense, churn rate is a measure of the number of individuals or items moving into or out of a collection over a specific period of time.

The term is used in many contexts, but is most widely applied in business with respect to a contractual customer base. For instance, it is an important factor for any business with a subscriber-based service model, including the new LetsBuyIt.
The phrase is based on the English idiom “to churn up”, meaning to agitate or produce violent motion.

Are you familiar with the churn in your business? What’s the average percentage of your database concerned by this?

ON a Friday afternoon in Guangzhou, a city in southern China, 500 shoppers gather outside a Gome electrical superstore in the downtown district. They arrive en masse at the designated time that they had previously agreed online. Several hours later, they emerge clutching boxes, having secured 10-30% discounts on cameras, DVD players and flat-screen televisions …

Team buying, aims to drive unprecedented bargains by combining the reach of the internet with the power of the mob. It is spreading through China like wildfire. The practice originated in online chat-rooms but has quickly inspired several specialist websites, such as www.teambuy.com.cn, www.taobao.com or www.liba.com

Would that work in Europe?

In a recent article for the E-Commerce Times, entitled “Social Networking: A Web 2.0 Revolution“, the journalist give a more detailed description of the Web 2.0 and its implications.

The most striking realization about this new evolution of the World Wide Web is that it is no temporary phenomenon; it is here to stay.

Web users have been empowered as never before. There is no possibility of putting the genie back in the bottle. The future will mean only more empowerment to the user.

Clearly, this evolution of the Web is truly helping marketers a great deal. They can now succinctly focus their marketing efforts and achieve much greater leverage for their advertising dollars.

All in all, everyone benefits.

Users are Watchers! According to different research, by and large, most visitors to participatory Web sites are watchers.

As a rule of thumb, estimation are saying that about 1 percent of a site’s visitors are “creatives” — enthusiastic and frequent uploaders of site content; some 20 percent are “contributors” who might do some uploading and add comments and tags to a site’s content; and the rest of the visitors are just watchers.

How would you define yourself?

Have you noticed that since the web2.0 concept and the fact that every websites is trying to create and develop a community, the content you can find on the internet is not as organized as it could be. How can you deal with the flow of information that is created by the users?

The Citizendium, a “citizens’ compendium of everything,” is an experimental new wiki project. The project, started by a founder of Wikipedia, aims to improve on that model by adding “gentle expert oversight” and requiring contributors to use their real names.

In other words, they are creating different levels for the contributors. Some of you can reach the “PowerUsers” status while other may just remain “simple contributor”.