DEPARTMENT OF MANAGEMENT SCIENCE & INNOVATION
COURSEWORK COVER AND FEEDBACK SHEET
Student Name (include all group members for group work): Deniz Ozalp
Degree Programme: MSc in Technology Entrepreneurship Module code and name: MSING030: New Venture Analytics Assignment number/title: Coursework 1 / Geckoboard Course Lecturer: Dr. Dave Chapman
Year of Study: 2 (part-time) 2013
I/we have read and understood the College and Departmental statements and guidelines concerning plagiarism. I/we declare that this submission is entirely my/our own unaided work. Wherever published, unpublished, printed, electronic or other information sources have been used as a ...view middle of the document...
You have many other priorities such as maximising ROI. Business owners are not keen to check and monitor data on various platforms and then having to compile these in order to draw outcomes, reports and action plans. However, now there is a hassle-free solution: Geckoboard. Most of the services such as Google Analytics, Twitter, foursquare, Excel, Flurry, Facebook, Google+, PayPal and more that businesses use (or desire to use) daily are integrated in Geckoboard and with it all the key real time data that matters is available to view at a glance in one place. With Geckoboard we can see how healthy our business is in real time.
KPI’s, metrics and measuring what matters to your business
The key metrics to monitor and measure can be very different for start-ups or early stage enterprises in comparison to established growth stage businesses. Indeed it is powerful to have a tool that businesses can mould and customise according to their needs as well as the business lifecycle stage they are at.
Lifecycle of a Business
Early stage start-up: Share & Wear and the metrics that matter
Share & Wear (www.share-n-wear.com) is a social styling network, which allows users to choose avatars and create outfit combinations with their existing clothes as well as new clothes from fashion brands online and to recommend styles to their friends. Users are able to select their avatars and create and save outfits using the photographs of clothes from fashion brands in our database. As Share & Wear is a very data-driven start-up there are many key metrics to monitor and measure. Having a comprehensive and personalised Geckoboard can help the founders of Share & Wear to focus on the most relevant aspects of their business. Taking un-informed and uncalculated decisions can damage the potential of the business to attract new customers plus can also result in the business not being able to reach the growth phase as quickly as desired.
The founders of Share & Wear are always considering both their partner fashion brands and also their users. Share & Wear’s revenue is generated through the affiliation fees that the partner fashion brands are charged as well as through the e-commerce services that are offered to particular brands. From a B2B point of view we have decided to focus on the following metrics as a priority: Revenue, Referral and Retention. From our interviews we know that our partner fashion brands want us to deliver more sales for them. Therefore we can identify the specific metrics and key data such as conversion rate, which we should monitor to ensure that we are on top of our targets. Our goal is to increase the affiliation fees that we charge our partner fashion brands as we grow our user base; hence we need to ensure that our partner brands are happy with our offering. We would also like to reach the stage where our partners are proud to display our logo on their homepage; hence generating referrals to Share & Wear. Most importantly we are...