How we can acquire new prospects by leveraging our existing network of customers.
June 2, 2023
In Andrew Chen’s book The Cold Start Problem, he breaks the network effect into three parts: engagement, acquisition, and economize. At Shop Local, we rely on the network effect and its three parts. I feel that we’re succeeding in terms of engagement but need improvement in acquisition.
Engagement
We use the 64,000 products in our Syncing service to engage 1,200 our retail clients. We email them new intros, price updates, archived items for these synced products. Once they ...
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The Wall St. Journal reports that Barnes & Noble has updated its subscription discount program. Previously, it had one tier that was $25/year. Now, Barnes & Noble has a two-tier system. There is a free program that offers rebates based on what you spend, and a $40/year program that gives you rebates plus more discounts and some perks at its cafes.
The new memberships are meant to help the bookseller better compete with Amazon's Prime and Walmart+.
How setting goals for our new members can help them be more successful.
January 31, 2023
When growing our network, we consider what it takes to keep existing members and grow into other industries. Andrew Chen in The Cold Start Problem reports that Facebook famously wanted a user to get 10 friends in a week because then the person would likely use the service. Similarly, Slack said users with about 10 connections tend to become active users. My company currently doesn’t have such new user benchmarks and we need to develop them.
Adding New Retail Members to the Product...
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How having the right defaults makes decisions easier for clients and helps them be more successful.
January 27, 2023
When you look at your driver’s license, it lists if you’re an organ donor. Twenty years ago, only 20% of people were donors, but today 80% are—thereby saving millions of lives. Did people become more kind? No, the question on the application was changed from opt-in to opt-out. People signing up for or renewing a license are now by default enlisted in organ donation. Lesson: the right default answer in medical care can save millions of lives. Similarly, the right defaults ...
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I don’t own a car, yet I have a strange desire to read Dan Neil's car column each weekend in The Wall St. Journal. Why would someone who doesn’t own a car, won’t be buying one soon, and hasn’t owned one in 25 years read a car column? It's a mix of enjoying the design and technology of automobiles, wanting to know what Dwayne Johnson may be buying next, loving Dan’s witty writing style, and, confession, simply being 13-years old at heart. Cars are ...
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MEMBERSHIP SURGES 50% IN E-COMMERCE COMMUNITY Online Shopping Boom Drives Retail Industry to Team Up On Bridge
NEW YORK, NY, July 30, 2021 – Bridge, an e-commerce community, reported a record increase in membership as the pandemic continued to rattle the retail landscape. In the last 12 months, 275 retail stores joined Bridge, bringing the total membership to more than 826 stores—a 50% increase. ...
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RETAILERS AND BRANDS GRAVITATE TO BRIDGE AMIDST PANDEMIC
For Immediate Release
Businesses Rush to Bridge During Pandemic
July 27, 2020
New York, NY – Bridge, an online e-commerce community, saw significant increases in membership during the COVID-19 pandemic. Retail membership increased by 17% and nine brands joined the platform, including Lenox, Kate Spade, Dansk, and Richard Ginori.
Since the spring, eighty stores have joined Bridge’s e-commerce service, bringing the ...
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FOR RETAILERS
Please join us for our new Bridge 101 webinar. We designed this training for new members. Existing members that want a refresher may also join us.
I'll take you through the Bridge platform and administrative settings.
I'll teach you how to:
Set up your Bridge Store.
Add products.
Add brands.
Setup taxes and shipping settings.
Navigate the important features needed to get your Bridge account up and running.