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WE HAVE NO IDEA WHAT WE

Prior to the pandemic and quarantine, less than 8% of commerce was online. As of Q3FY20 eCommerce grew north of 14% of all commerce. So while the Retailpocalypse was in its last phase, physical retail still outsold eCommerce by at least 7:1.

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WE HAVE NO IDEA WHAT WE

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  1. WE HAVE NO IDEA WHAT WE’RE DOING Before the pandemic and quarantine, less than 8% of commerce was online. In Q3FY20 eCommerce grew north by 14% of all commerce. So while Retailpocalypse was in its final stage, physical retail still outperformed eCommerce by at least 7: 1. The failure rate of crowdfunding campaigns is 85%. The failure rate of e-commerce store owners ranges from 80 to 97%. What if there was a way to bridge the gap between these three failure rates? What if we could connect what people consume online with what they buy offline before waiting for the brain-computer interfaces (BCIs)? In short, what if we could bridge the gap between social and commerce? (Use case example.) Mostly there is a lack of memorable, meaningful, measurable and monetizable answers from people interested in stories about beagles, princesses and pit bulls, pets, auto repairs, raspberry and blueberry vinaigrette gyros, vacation travel savings techniques, getting stuck at airports during blizzards, rent cars and Cup o 'Noodles, My Fair Lady and @Instacart, dine out at the delicious Banana Leaves cafe, cook kosher halal without jelly, blue marshmallow # 1 without artificial colorings flavored with eggnog, 50 Anniversary and chocolate ganache, camping adventures with groups of young people, birdhouses built by children, rainbow hair dye, DIY artificial cakes without dyes for your child's birthday party and gingerbread houses from Halloween and Greek Mount Olympus costumes. In addition to the ad revenue that YouTube collects, of which most of its video posters see little, monetizing the DIY craze has proved quite tricky. Ditto for Christmas shopping, smartphone accessories, buying a new luxury Subaru online with no vendor, how to get hard-to-find children's contact lenses and vitamins, as Amazon often has thrift store prices in stores used inventory seldom carry, the challenges of buying clothes on amazon that doesn't fit but you don't realize that until the clothes arrive, DIY auto repair, fun auto repair, glorious victory of the auto repair, diaper pies and muscle aches, drones and honey scones, Triple A baseball and blue-tailed skinks, favorite foods, fasting and Boston, fused vertebrae and buried treasure, where to buy school supplies when most stores are exhausted, creams and cured meats,

  2. Connecting social media with eCommerce has been the white rhino of many investors and startups for many years. Instead of working towards such solutions, we have VCs and shareholders asking about vanity metrics: - How many people have looked at your website? Instead of: how many people have signed up or how many have bought an item? - - How many downloads does your app have per month? Instead of: How many of the people who downloaded your app removed it after less than 30 days? - What are your advertising revenue? Instead of: How can your product acquire or create more value? In response entrepreneurs answer these questions, often presenting their highest marketing spend followed by vanity milestones: "We use Google Analytics and similar suppliers to track every movement in the supply chain, to ensure that when the buyer's journey is complete, there are no delivery delays. This will lead to more frequent purchases, ideally of higher priced products. is ... We are presenting at Chipotle on Friday! " This leads to concentrated research on Chipotle's SWAT, followed by an excellent presentation that includes a demo via Zoom. The result of this roll is usually: 1. The person loved the presentation and accepts your invitation to meet with their manager again next week. 2. The person you proposed to is not the decision maker 3. The person you presented the proposal to does not understand what you are proposing 4. The person you presented the presentation to had 3 other projects due from COB and was not fully present and listened to your 10 minute presentation

  3. 5. You provided too much data too quickly, trying to build a report 6. You shared how your product can reduce shrink, increase ROI, decrease costs, increase retention and cure cancer. The person you proposed doesn't believe all those promises. 7. The person you presented the proposal to is afraid to support the change; the risk of a change resulting in lower results can lead to negative repercussions. The business as usual risk is minimal. Forgotten by almost all ecommerce platforms and store owners are the facts that: - People behave differently when observed (better behavior than average behavior). Despite this, we are seeing an astonishing number of startups offering to help you monitor everything your customers do. "We are Palantir for eCommerce" is essentially the ethics of these companies. - The Paradox of Choice by Barry Schwarz - too many choices overwhelm the person making the choice, to the point that no decision is made. If you don't train your mind to buy what you want even if you have to search on pages other than Amazon and Google Shopping, you may end up buying the product you almost wanted. - The concept of incentivized virality - when PayPal gave $ 20 to every person who reported another person who joined and when DropBox offered free data storage to people who reported friends who joined - which Reid Hoffman and Chris Yeh brilliantly detailed in Blitzscaling: The lightning-fast path to building high-value companies. So now every ecommerce platform tries to copy Amazon which built its own model as opposed to physical retail. Consider your latest airport car rental experience compared to Amazon: - Do you want to fill the gas tank or would you like us to do it? - Would you like insurance coverage only for civil liability or more complete? - Would you like a GPS? - Would you like to join our exclusive club for members? etc. etc. Adding to what @ElevateDemand said, "B2B marketing is broken," said Raj De Datta, CEO and co- founder of @Bloomreach, "The future of B2C marketing looks like B2B marketing," correctly stated

  4. Kevin Marasco, CMO of @Zenefits, "marketing is going back in time from B2B to B2C" or person to person. The smart speakers in every phone, tablet, laptop PC, TV and car that BCI, which @Facebook and @Neuralink are pioneering, have great potential. Until these products arrive or after their research and development phase, @ Homemaide's object and image recognition models can provide the much- needed bridge between Social and Commerce.

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