Recession Grew Start Up's

The moment one hear a word recession place the shadow of silence and pain but i feel recession is a good time for Starts up's Business. Let me give you some fact which help you to understanding my strong feeling of positiveness in recession. Some time i feel its good the Great recession come at least the new beginning will get the shape.

• In recession you will find "CHEAP PRODUCT & SERVICES" - The Economy dump make all things cheap and affordable and this will help the start up's. Will get good deals at low cost.

• In recession you will find "LOW COST POOL" - Shrinking Titanic Economy force to massive layoffs in a Ocean of extremely talented people for new hiring. You can easily find the great people who are willing for new opportunities at least lesser than a salary what they are getting after threatening there employers before recession. Still Be careful when i said Great Talent pool means they are great in there work so get them on board with their Dignity and respect. Do not try to underestimate the Pool because hire them before they become your competitor.

• In recession you will find "Start -UP Incubators" - The Successful Entrepreneurs finding a new way to generate revenue by helping new business. Today’s incubators are a bit different than VC’s or angel groups. Incubators are more involved in finding new space for business and education young guns to maintain the business in SEA SAW. They also usually only focus on a specific number of start-ups each year and look for very early stage opportunities.

• In recession you will find "F&F' - Family of Friend who are ready to Invest in new business as they are already eaten up by Stock Market Dragon, So now there focus is to invest for longer run and with low risk so they give chance to Start-Up too. Why i said low risk as they try to convince you take Investment as loan and return in installment with some good premium added on same.

• In recession you will find "GREAT MINDS"- Business houses kick off there old vendors and supplier and giving opportunity to new one as they are ready to deal at lesser price and more credit.

• In recession you will find "TECHNOLOGY FOR FREE"- With the amazing array of great open source technology available today, new entrepreneurs can take advantage incredible software products that used to cost thousands.

• In recession you will find "SOCIAL MEDIA" - From the professional rude attitude now all CEO's and CTO's are available with 100% free time on SOCIAL MEDIA NETWORK like LinkedIn, Tweet-Tweet, FaceBook, XING etc.

Thanks and kind regards,

Nitin Chauhan | nitin@maximumhit.com | www.maximumhit.com

Banking with Social Media

Should banks use social networks?

With banks struggling with rising mortgage and credit card defaults it is not a big surprise that some of them have turned to social networks as a way to attract younger consumers.

Information Week recently mentioned how Netherlands-based bank ING Direct has created their own social networking site called MoveOutMoveUp.com , aimed at first-time home buyers, with community-oriented forums and advice pages under categories like “Oh Baby!” (for new parents) and “Moving in Together,” for prospective cohabitants.

Fiserv , which supplies back-end bill-payment and transaction technology to financial institutions, took a different approach that ING Direct but launching a Facebook application called My Money, which allows Facebook users to carry out basic banking tasks such as paying bills, making transfers, and checking balances.

Social networks are a great way for a bank to reach out to a younger generation. As Richard Jones, Fiserv’s executive VP and CIO put it:

“Our credit unions have a problem. The average age of their customer is now 47 years old and rising. If they want to attract these Generation Y consumers, they have to go where they are, and Facebook is a clear place to find them.”

What I like about Fiserv’s Facebook approach is that their application provides a service that Facebook users can and will use. Facebook users sign up directly for MyMoney if their financial institution supports the application. If it doesn’t, they can submit a request that Fiserv forwards to the credit union or bank. So far 36 credit unions have started supporting MyMoney; Fiserv plans to launch a wider marketing campaign for the application in the fall, to go after its 2,200 member credit unions. Beyond that, the company plans to market the application more widely to its thousands of bank customers.

More than 1,000 Facebook users have downloaded the application, said Fiserv product manager David Reed. “It’s probably exceeded our expectations,” he said. “We did not think it’d take off that quickly.”

Several studies have shown that the younger, Internet-savvy customers of banks prefer to use online-banking rather than have physically go to a branch. “There are college kids who haven’t been inside a bank,” John Zollinger, VP of corporate banking for Whitney Bank.

Finding creating applications that fulfill a need for customers is what successful companies are now doing on Facebook. They have moved past just creating a Facebook application, now they are looking to attract new customers and solve problems that existing customers have with Facebook 2.0 applications.

Regards,
nitin@maximumhit.com

www.maximumhit.com

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FLY with Social Media

Blowing social media flies with some good airlines companies. I am impressed with how the airlines are using Social Media activities in their business.
Here is an example of some airlines using Social Media aggrievedly.
Four Airlines using Social Media Productively

• Southwest Airlines

• JetBlue Airways

• Kingfisher Airlines

• Delta Airlines

• Virgin America

These airlines are using Social Media sites such as Twitter, Facebook, YouTube, Flickr, Blogspot etc. Using Social media for Airline business help business owner as well as consumer. Social Media is a great way to get the consumer online community involved… to get them motivated to travel, to get them talking about the airlines…. what they love and what they hate. To get them spreading the word of what airline they should be traveling.

Some Airlines are using Facebook :- Facebook is an excellent way to engage customers. And, Virgin America is doing it well. Check out Virgin America’s amazing Facebook Page:

On their Facebook Profile you will find:

• Fan Photos
• Videos / Fan Videos
• Customer reviews
• The Wall
• Discussion Board
• Company Information

Their Facebook Profile also offers:

• Search Flights
• Check In/ Travel Manager
• Flight Status
• Elevate – Their Loyalty Program
• Access to their Twitter Profile
• Access to their YouTube Profile

“Happy customers mean returning customers and it appears Virgin America gets that.”

Airlines are using Flickr

Another great way these airlines are using Social Media to help their business is with Flickr.
When you Travel you like taking picture to keep your good time memorized. Traveling is very personal for you as you may traveling with family or traveling to visit family. Either way they are making memories and they are counting on every moment of their excursion to be part of it…. including their travels there and back.
So, because of this reason it just makes sense for Flickr, a photo sharing community, to be part of the social media activities being used. And, it certainly is. Let’s look at JetBlue’s Flickr Group as an example…

JetBlue has a nice Flickr Group. In their group there are already 3,777 items…. both photos and videos. Members of this Flickr group can comment on each other photos and can add each other as friends…. encouraging relationship building. These members appear to be customers, fans and employees of Airlines.

The JetBlue Flickr group also has active discussion boards. This is a great place to start discussions in the same format as other message boards and forums. Ask questions, give opinions and even offer suggestions to the airlines or members of the community.

Airlines are using YouTube

Youtube an another social Media channel helping many industries to Grew not only in Customer base but in revenue too. Video is a great way to engaging and entertaining customers. Video’s truly hold the viewers attention.

Delta’s New In-Flight Safety Video caused a huge buzz in the YouTube world.

“The safety video generated such a buzz after being posted on the Atlanta-based airline’s corporate blog and on the video Web site YouTube that admirers dubbed the 33-year-old Atlanta woman “Deltalina,” a combination of the airline’s name and Hollywood actress Angelina Jolie, who they say she resembles.”

DeltaAirLines on YouTube have tons of other videos to choose from as well. Including, Travel Guides where Delta employees showcase their favorite destinations around the globe.

Airlines are Using Twitter

India,Mumbai; April 27, 2009—Kingfisher Airlines, India’s market-leading airline, today became the first airline from India to embrace social media and set up a full-fledged formal presence on www.twitter.com . This initiative will make it easier for anyone to receive instant updates from Kingfisher Airlines and more importantly, opens up a new platform for the brand to actively converse with its guests. With the debut of this service, Kingfisher Airlines joins a growing global band of savvy marketers who have recognized the power and reach of new media like the social and community networking.
FlyKingfisher on Twitter is a free social service that enables guests and users to read updates from Kingfisher Airlines and in social media lingo, these are known as the FlyKingfisher tweets.

The service due to commence shortly, will provide information about:

• Urgent updates e.g. an development at an airport that may impact flight arrivals / departures
• Instant and simple messages about special promotions
• Latest news at Kingfisher Airlines

Given the fact that ‘airlines’ are one of the most commonly mentioned categories of brands on Twitter, this service will be a very valuable tool for Kingfisher Airlines to start a dialogue with stakeholders and actively participate in the conversation. Kingfisher Airlines has a dedicated Guest Commitment team and now, with a presence on Twitter, they will be able to receive instant and fist-hand feedback.

Airlines are Blogging

You should check out both the Delta Blog and SouthWest’s Blog. They both are doing an excellent job. They blog regularly about everything from airline news to airport food to new airplanes to new airports. They are also making sure to list all of their other social profiles in their blogs…. helping their fans and customers stay in contact with them all over the internet. Very Cool!!!

Happy Reading !

nitin@maximumhit.com
www.maximumhit.com www.maximumhit.co.uk

My Question: Best practices in merchandising

Answer :-Consumers are naturally more responsive when their online shopping is more convenient and enjoyable. Applying some strategic merchandising techniques within your marketplace will make consumers become more comfortable and this will mean more engaged visitors and more profits.

Building an online catalog that is relevant and interesting for each shopper can be a daunting task.

1. Category navigation that emphasizes top sellers in each category.

2. Extensive product information, including informational & how-to videos, product reviews, multiple product images and packaging information.

3. Offer complete solutions that include cross-sell items; for instance, combine pants, shirts, & accessories to showcase a complete outfit. Show product collections. Seeing how well a few items complement each other may influence some customers to be more inclined to purchase multiple items. Accessorization.

4. Convey positive lifestyle content, including images that incorporate several of your products at top level pages.

5. Show accurate inventory information!

6. Fast on-site search – studies have shown that shopping sessions that involve use of search have nearly three times the conversion rate as usual sessions.

7. Use discount-related incentives such as free shipping or a “buy more, save more” type of discount. Also, offer limited-time, post-sale loyalty coupons that offer $ or % off the next order. eBay sellers can learn more about how to use coupons at

eBay here.

Susan Maricle wrote:

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Thank you for responding, Nitin. When merchandising your online project, do you map it out with a software program, on paper, or both? What are the benefits in doing it the way you do it? I’m looking for ways to increase responsiveness and decrease number of revisions. Thanks again! Susan

Nitin Chauhan wrote:

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I do map my plan on paper, grouping the content (product, info, reviews, feedback, related product etc) is the key for supreme responsiveness, rather then selling a product individually per segment you must try selling a product line, get all relevant content at one place and present your online shop in such a way that visitor can buy any time Whether he convinced after reading review OR finding a discount code OR anything else your shopping cart must be accessible from that segment. The bottom line is that before making any plan study how a potential buyer of that particular industry behave and what factors push him to buy a product (These factors can vary product to product, for example an online birthday gift buyer can be convinced with a testimonial about On date delivery)

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