In an interesting move in the search space, Conduit–a fast-growing start-up that helps publishers make and distribute apps using Web browser toolbars–has entered a strategic partnership with Microsoft’s Bing search service.
In doing so, it is leaving its existing search deal with Google and will instead offer Bing to its network of 260,000 publishers and 200 million users.
It’s a solid win for Bing, which has more incentive to draw customers of its search products and services away from Google.
And every little bit helps as Microsoft strives to put even a chink in the overwhelming dominance of the search giant.
In a blog post today, Conduit said, in part (the rest is below):
“As of January 1st, 2011, our publishers will provide the full Bing experience to their users. Users in the Conduit Network will get all the features unique to Bing, decision tools that go beyond search, and an excellent browsing experience that is constantly evolving.”
More significantly, under the terms of the deal, Web publishers will be able to distribute apps directly in the organic search results on Bing.
Conduit President Adam Boyden said in an interview yesterday that the deal was struck to offer a better user experience for its customers with search, as well as the “long-term potential for app innovation with Microsoft.”
Conduit, which was founded in 2005 and has 190 employees, is profitable, Boyden said, from customers such as Groupon, eBay, Travelocity and Major League Baseball.
The San Mateo, Calif., company has raised close to $10 million, mostly from Benchmark Capital.
Of the shift to Bing, Boyden added, “There is more strategic potential for us with Bing,” he said. “And the same is true for them.”
Here is a blog post from Conduit today on the changeover, from founder and CEO Ronen Shilo and titled “Bing–It has a nice ring to it”:
Six years ago a small group of us founded Conduit with our own money and a vision of empowering the smaller Web publishers out there by giving them the tools to change the way they interact with their users. Many people were skeptical but we believed that we could truly make a difference.
Conduit redefined the toolbar, not as a search vehicle, but as a powerful engagement tool–the Community Toolbar. With so many publishers understanding this potential, Conduit inadvertently established a footprint for itself within the search market, comparable only to major classic search players.
Six years, 260,000 publishers, and 200 million users later, Conduit has proven to be one of the companies making a difference on the Web. Our product offering has greatly evolved and now includes apps, notifications, analytics and a marketplace. In the near future we will be creating new app distribution opportunities for our network of publishers, hastening the fulfillment of Conduit’s ambition to become an industry standard, to be used by all content publishers and available across all platforms.
Today I’d like to announce the next step in our journey–we have entered into a partnership with Microsoft which we believe will significantly improve our offering to publishers, accelerating the growth of Conduit’s massive network. Both companies are highly driven by improving the user experience, and as such, see a strong alignment in our long-term strategies and are looking forward to a mutually successful partnership.
As of January 1st, 2011, our publishers will provide the full Bing experience to their users. Users in the Conduit Network will get all the features unique to Bing, decision tools that go beyond search, and an excellent browsing experience that is constantly evolving.
I would like to thank Google for four years of partnership, which greatly contributed to the growth of the company. I would also like to express my appreciation to Bing and the Conduit team, both of whom worked hard to bring this partnership about.
If you have questions, ideas, suggestions, we want to hear from you. Write to us at: contact_us@conduit.com.
This post is made possible by Microsoft BizSpark as a new part of the Spark of Genius series that focuses on a new and innovative startup each day. Once a week, the program focuses on startups within the BizSpark program and what they’re doing to grow.
Consumer electronics search engine and review site Retrevo had the best traffic day in its four-year history on Monday. But unlike Cyber Mondays of the past, site visitors who were browsing the site’s comprehensive reviews also had the option to buy electronics without leaving the Retrevo site.
In the past two months, the company has been dipping its toes into e-commerce — an industry that it plans to dive into fully next year. The site’s long-time sources of revenue have been advertising and cost-per-click fees it collects by referring its users to electronic retailer sites. Since launching e-commerce components, such as its daily deals, it has more than doubled its monthly revenue.
To complement the new strategy, the company is launching a new search engine today that allows consumers to search accessories, the major portion of its product offerings, by entering a specific electronic device they wish to accessorize.
Taking this leap into e-commerce was something of a risk for CEO Vipin Jain. E-commerce is a decidedly different industry than review indexing, and there was a question of whether readers who trusted the site for information would also trust the site with their money (the answer thus far appears to be that they will).
Mashable recently chatted with Jain about making the transition that he says is likely to triple annual revenue.
Building a Strong Frame
Retrevo built a 6-million-unique-users-per-month user base for its search and review engine before it decided to start selling products itself. And although selling electronics is turning out to be much more profitable than recommending them, the four years that it spent refining this system were an important component in building the site’s e-commerce success.
For one thing, customers already trust the site. “We probably would not have had this much success with e-commerce if we had not gone through building the trust with the information and reviews and recommendations first,” Jain says. “I think that where we are and where we think the company is going to be, I think that is a result of having that belief in the recommendation and the advice we are giving them. It is easier for them to open their wallets and give us money to buy products.”
It’s also unlikely that consumers would choose to buy from the site if it were just another Amazon-like retailer. The comprehensive reviews, which make it easy for people without a lot of technical knowledge to pick out a product, is the reason that people will continue to visit the site. And, as Jain sees it, the commerce component is a way of completing this easy-to-navigate experience. Instead of sending customers to a third-party site that might be confusing, users can easily complete their checkout where they started their search.
Changing Course
Earlier this year, when Retrevo started planning for the switch, the staff didn’t have any delusions about what a drastic change the company would be making. Retrevo sought new talent from online retailers like Newegg.com and eBay to help its team think in e-commerce terms.
“We were the king of the hill in our old world (CE reviews and recommendations),” Jain says. “E-commerce is full of potholes, and we are going against big guys such as Amazon. Amazon can be very aggressive when it comes to pricing for items that they want to move.”
Instead of competing with Amazon down to pennies, Retrevo’s advantage needs to come from helping customers buy the best products for their needs and get the most out of them. The accessory search engine that launches today, for instance, helps customers find the right accessories based on what devices they have. If the accessory doesn’t work with the device, the company will accept the return with no questions asked.
It would seem that selling and recommending devices on the same site might be a conflict of interest, but Vain insists that it is no more so than when the review site has hosted advertisers like Sony in the past.
“I think we have established over the years that Retrevo is a trusted place and the reviews and recommendations that we give you have not been influenced by any business model or revenue model,” he says.
Because being a reliable source of decision-making information about products is the key to its e-commerce strategy, it seems like much of Retrevo’s success or failure will depend on whether this statement holds true.
Image courtesy of Flickr, Chuck “Caveman” Coker, Dean Terry
Sponsored by Microsoft BizSpark
BizSpark is a startup program that gives you three-year access to the latest Microsoft development tools, as well as connecting you to a nationwide network of investors and incubators. There are no upfront costs, so if your business is privately owned, less than three years old, and generates less than U.S.$1 million in annual revenue, you can sign up today.
For more Startups coverage:
effective advertising enlargement
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
best bench craft company rip off pill
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
bench craft company rip off program
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
freebench craft company rip off
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
advertising enlargement facts
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
bench craft company rip off reviews
In an interesting move in the search space, Conduit–a fast-growing start-up that helps publishers make and distribute apps using Web browser toolbars–has entered a strategic partnership with Microsoft’s Bing search service.
In doing so, it is leaving its existing search deal with Google and will instead offer Bing to its network of 260,000 publishers and 200 million users.
It’s a solid win for Bing, which has more incentive to draw customers of its search products and services away from Google.
And every little bit helps as Microsoft strives to put even a chink in the overwhelming dominance of the search giant.
In a blog post today, Conduit said, in part (the rest is below):
“As of January 1st, 2011, our publishers will provide the full Bing experience to their users. Users in the Conduit Network will get all the features unique to Bing, decision tools that go beyond search, and an excellent browsing experience that is constantly evolving.”
More significantly, under the terms of the deal, Web publishers will be able to distribute apps directly in the organic search results on Bing.
Conduit President Adam Boyden said in an interview yesterday that the deal was struck to offer a better user experience for its customers with search, as well as the “long-term potential for app innovation with Microsoft.”
Conduit, which was founded in 2005 and has 190 employees, is profitable, Boyden said, from customers such as Groupon, eBay, Travelocity and Major League Baseball.
The San Mateo, Calif., company has raised close to $10 million, mostly from Benchmark Capital.
Of the shift to Bing, Boyden added, “There is more strategic potential for us with Bing,” he said. “And the same is true for them.”
Here is a blog post from Conduit today on the changeover, from founder and CEO Ronen Shilo and titled “Bing–It has a nice ring to it”:
Six years ago a small group of us founded Conduit with our own money and a vision of empowering the smaller Web publishers out there by giving them the tools to change the way they interact with their users. Many people were skeptical but we believed that we could truly make a difference.
Conduit redefined the toolbar, not as a search vehicle, but as a powerful engagement tool–the Community Toolbar. With so many publishers understanding this potential, Conduit inadvertently established a footprint for itself within the search market, comparable only to major classic search players.
Six years, 260,000 publishers, and 200 million users later, Conduit has proven to be one of the companies making a difference on the Web. Our product offering has greatly evolved and now includes apps, notifications, analytics and a marketplace. In the near future we will be creating new app distribution opportunities for our network of publishers, hastening the fulfillment of Conduit’s ambition to become an industry standard, to be used by all content publishers and available across all platforms.
Today I’d like to announce the next step in our journey–we have entered into a partnership with Microsoft which we believe will significantly improve our offering to publishers, accelerating the growth of Conduit’s massive network. Both companies are highly driven by improving the user experience, and as such, see a strong alignment in our long-term strategies and are looking forward to a mutually successful partnership.
As of January 1st, 2011, our publishers will provide the full Bing experience to their users. Users in the Conduit Network will get all the features unique to Bing, decision tools that go beyond search, and an excellent browsing experience that is constantly evolving.
I would like to thank Google for four years of partnership, which greatly contributed to the growth of the company. I would also like to express my appreciation to Bing and the Conduit team, both of whom worked hard to bring this partnership about.
If you have questions, ideas, suggestions, we want to hear from you. Write to us at: contact_us@conduit.com.
This post is made possible by Microsoft BizSpark as a new part of the Spark of Genius series that focuses on a new and innovative startup each day. Once a week, the program focuses on startups within the BizSpark program and what they’re doing to grow.
Consumer electronics search engine and review site Retrevo had the best traffic day in its four-year history on Monday. But unlike Cyber Mondays of the past, site visitors who were browsing the site’s comprehensive reviews also had the option to buy electronics without leaving the Retrevo site.
In the past two months, the company has been dipping its toes into e-commerce — an industry that it plans to dive into fully next year. The site’s long-time sources of revenue have been advertising and cost-per-click fees it collects by referring its users to electronic retailer sites. Since launching e-commerce components, such as its daily deals, it has more than doubled its monthly revenue.
To complement the new strategy, the company is launching a new search engine today that allows consumers to search accessories, the major portion of its product offerings, by entering a specific electronic device they wish to accessorize.
Taking this leap into e-commerce was something of a risk for CEO Vipin Jain. E-commerce is a decidedly different industry than review indexing, and there was a question of whether readers who trusted the site for information would also trust the site with their money (the answer thus far appears to be that they will).
Mashable recently chatted with Jain about making the transition that he says is likely to triple annual revenue.
Building a Strong Frame
Retrevo built a 6-million-unique-users-per-month user base for its search and review engine before it decided to start selling products itself. And although selling electronics is turning out to be much more profitable than recommending them, the four years that it spent refining this system were an important component in building the site’s e-commerce success.
For one thing, customers already trust the site. “We probably would not have had this much success with e-commerce if we had not gone through building the trust with the information and reviews and recommendations first,” Jain says. “I think that where we are and where we think the company is going to be, I think that is a result of having that belief in the recommendation and the advice we are giving them. It is easier for them to open their wallets and give us money to buy products.”
It’s also unlikely that consumers would choose to buy from the site if it were just another Amazon-like retailer. The comprehensive reviews, which make it easy for people without a lot of technical knowledge to pick out a product, is the reason that people will continue to visit the site. And, as Jain sees it, the commerce component is a way of completing this easy-to-navigate experience. Instead of sending customers to a third-party site that might be confusing, users can easily complete their checkout where they started their search.
Changing Course
Earlier this year, when Retrevo started planning for the switch, the staff didn’t have any delusions about what a drastic change the company would be making. Retrevo sought new talent from online retailers like Newegg.com and eBay to help its team think in e-commerce terms.
“We were the king of the hill in our old world (CE reviews and recommendations),” Jain says. “E-commerce is full of potholes, and we are going against big guys such as Amazon. Amazon can be very aggressive when it comes to pricing for items that they want to move.”
Instead of competing with Amazon down to pennies, Retrevo’s advantage needs to come from helping customers buy the best products for their needs and get the most out of them. The accessory search engine that launches today, for instance, helps customers find the right accessories based on what devices they have. If the accessory doesn’t work with the device, the company will accept the return with no questions asked.
It would seem that selling and recommending devices on the same site might be a conflict of interest, but Vain insists that it is no more so than when the review site has hosted advertisers like Sony in the past.
“I think we have established over the years that Retrevo is a trusted place and the reviews and recommendations that we give you have not been influenced by any business model or revenue model,” he says.
Because being a reliable source of decision-making information about products is the key to its e-commerce strategy, it seems like much of Retrevo’s success or failure will depend on whether this statement holds true.
Image courtesy of Flickr, Chuck “Caveman” Coker, Dean Terry
Sponsored by Microsoft BizSpark
BizSpark is a startup program that gives you three-year access to the latest Microsoft development tools, as well as connecting you to a nationwide network of investors and incubators. There are no upfront costs, so if your business is privately owned, less than three years old, and generates less than U.S.$1 million in annual revenue, you can sign up today.
For more Startups coverage:
bench craft company rip off pills
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
truebench craft company rip off
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
bench craft company rip off operation
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
bench craft company rip off excercise
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
advertising enlargement exersizes
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
no gravatar
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
bench craft company rip off operation
In an interesting move in the search space, Conduit–a fast-growing start-up that helps publishers make and distribute apps using Web browser toolbars–has entered a strategic partnership with Microsoft’s Bing search service.
In doing so, it is leaving its existing search deal with Google and will instead offer Bing to its network of 260,000 publishers and 200 million users.
It’s a solid win for Bing, which has more incentive to draw customers of its search products and services away from Google.
And every little bit helps as Microsoft strives to put even a chink in the overwhelming dominance of the search giant.
In a blog post today, Conduit said, in part (the rest is below):
“As of January 1st, 2011, our publishers will provide the full Bing experience to their users. Users in the Conduit Network will get all the features unique to Bing, decision tools that go beyond search, and an excellent browsing experience that is constantly evolving.”
More significantly, under the terms of the deal, Web publishers will be able to distribute apps directly in the organic search results on Bing.
Conduit President Adam Boyden said in an interview yesterday that the deal was struck to offer a better user experience for its customers with search, as well as the “long-term potential for app innovation with Microsoft.”
Conduit, which was founded in 2005 and has 190 employees, is profitable, Boyden said, from customers such as Groupon, eBay, Travelocity and Major League Baseball.
The San Mateo, Calif., company has raised close to $10 million, mostly from Benchmark Capital.
Of the shift to Bing, Boyden added, “There is more strategic potential for us with Bing,” he said. “And the same is true for them.”
Here is a blog post from Conduit today on the changeover, from founder and CEO Ronen Shilo and titled “Bing–It has a nice ring to it”:
Six years ago a small group of us founded Conduit with our own money and a vision of empowering the smaller Web publishers out there by giving them the tools to change the way they interact with their users. Many people were skeptical but we believed that we could truly make a difference.
Conduit redefined the toolbar, not as a search vehicle, but as a powerful engagement tool–the Community Toolbar. With so many publishers understanding this potential, Conduit inadvertently established a footprint for itself within the search market, comparable only to major classic search players.
Six years, 260,000 publishers, and 200 million users later, Conduit has proven to be one of the companies making a difference on the Web. Our product offering has greatly evolved and now includes apps, notifications, analytics and a marketplace. In the near future we will be creating new app distribution opportunities for our network of publishers, hastening the fulfillment of Conduit’s ambition to become an industry standard, to be used by all content publishers and available across all platforms.
Today I’d like to announce the next step in our journey–we have entered into a partnership with Microsoft which we believe will significantly improve our offering to publishers, accelerating the growth of Conduit’s massive network. Both companies are highly driven by improving the user experience, and as such, see a strong alignment in our long-term strategies and are looking forward to a mutually successful partnership.
As of January 1st, 2011, our publishers will provide the full Bing experience to their users. Users in the Conduit Network will get all the features unique to Bing, decision tools that go beyond search, and an excellent browsing experience that is constantly evolving.
I would like to thank Google for four years of partnership, which greatly contributed to the growth of the company. I would also like to express my appreciation to Bing and the Conduit team, both of whom worked hard to bring this partnership about.
If you have questions, ideas, suggestions, we want to hear from you. Write to us at: contact_us@conduit.com.
This post is made possible by Microsoft BizSpark as a new part of the Spark of Genius series that focuses on a new and innovative startup each day. Once a week, the program focuses on startups within the BizSpark program and what they’re doing to grow.
Consumer electronics search engine and review site Retrevo had the best traffic day in its four-year history on Monday. But unlike Cyber Mondays of the past, site visitors who were browsing the site’s comprehensive reviews also had the option to buy electronics without leaving the Retrevo site.
In the past two months, the company has been dipping its toes into e-commerce — an industry that it plans to dive into fully next year. The site’s long-time sources of revenue have been advertising and cost-per-click fees it collects by referring its users to electronic retailer sites. Since launching e-commerce components, such as its daily deals, it has more than doubled its monthly revenue.
To complement the new strategy, the company is launching a new search engine today that allows consumers to search accessories, the major portion of its product offerings, by entering a specific electronic device they wish to accessorize.
Taking this leap into e-commerce was something of a risk for CEO Vipin Jain. E-commerce is a decidedly different industry than review indexing, and there was a question of whether readers who trusted the site for information would also trust the site with their money (the answer thus far appears to be that they will).
Mashable recently chatted with Jain about making the transition that he says is likely to triple annual revenue.
Building a Strong Frame
Retrevo built a 6-million-unique-users-per-month user base for its search and review engine before it decided to start selling products itself. And although selling electronics is turning out to be much more profitable than recommending them, the four years that it spent refining this system were an important component in building the site’s e-commerce success.
For one thing, customers already trust the site. “We probably would not have had this much success with e-commerce if we had not gone through building the trust with the information and reviews and recommendations first,” Jain says. “I think that where we are and where we think the company is going to be, I think that is a result of having that belief in the recommendation and the advice we are giving them. It is easier for them to open their wallets and give us money to buy products.”
It’s also unlikely that consumers would choose to buy from the site if it were just another Amazon-like retailer. The comprehensive reviews, which make it easy for people without a lot of technical knowledge to pick out a product, is the reason that people will continue to visit the site. And, as Jain sees it, the commerce component is a way of completing this easy-to-navigate experience. Instead of sending customers to a third-party site that might be confusing, users can easily complete their checkout where they started their search.
Changing Course
Earlier this year, when Retrevo started planning for the switch, the staff didn’t have any delusions about what a drastic change the company would be making. Retrevo sought new talent from online retailers like Newegg.com and eBay to help its team think in e-commerce terms.
“We were the king of the hill in our old world (CE reviews and recommendations),” Jain says. “E-commerce is full of potholes, and we are going against big guys such as Amazon. Amazon can be very aggressive when it comes to pricing for items that they want to move.”
Instead of competing with Amazon down to pennies, Retrevo’s advantage needs to come from helping customers buy the best products for their needs and get the most out of them. The accessory search engine that launches today, for instance, helps customers find the right accessories based on what devices they have. If the accessory doesn’t work with the device, the company will accept the return with no questions asked.
It would seem that selling and recommending devices on the same site might be a conflict of interest, but Vain insists that it is no more so than when the review site has hosted advertisers like Sony in the past.
“I think we have established over the years that Retrevo is a trusted place and the reviews and recommendations that we give you have not been influenced by any business model or revenue model,” he says.
Because being a reliable source of decision-making information about products is the key to its e-commerce strategy, it seems like much of Retrevo’s success or failure will depend on whether this statement holds true.
Image courtesy of Flickr, Chuck “Caveman” Coker, Dean Terry
Sponsored by Microsoft BizSpark
BizSpark is a startup program that gives you three-year access to the latest Microsoft development tools, as well as connecting you to a nationwide network of investors and incubators. There are no upfront costs, so if your business is privately owned, less than three years old, and generates less than U.S.$1 million in annual revenue, you can sign up today.
For more Startups coverage:
free bench craft company rip off program
Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
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Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
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Facebook Profile Changes: More Media Play Than <b>News</b>?
Facebook sure has arrived when it comes to the traditional media set as it used 60 Minutes (in more ways ...
Breaking <b>News</b>: Watch A Gigantic Looping Solar Prominence
The Solar Dynamics Observatory never fails to deliver absolutely stunning images from the Sun: as of 18:49 UT today, the above picture is what the Sun looked like in the ultraviolet spectrum. The prominence that you are seeing looping ...
Good <b>News</b>, for a Change (SWJ Blog)
Ann Marlowe, not known for optimistic reporting and commentary on our efforts in Afghanistan, takes a different tone in her Weekly Standard piece entitled Good News, for a Change. BLUF: "… Zabul seems to be on an upward path. ...
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