100 Fast-growth entrepreneurs gathered at member Federico Castelucci’s restaurant, Cooks and Soldiers, in Atlanta’s West Side on June 30th for the Oxford Center’s Entrepreneur Briefing II event.
Here is what you need to know:
LESS IS BETTER: WEB APPS ARE THE NEW WEBSITES
Oxford Web Analyst Mike Casey says websites are obsolete as they are too expensive and informationally overload. Oxford recommends that entrepreneurs downsize websites to a web app that has three main features. Below the fold is gold, video is more engaging than text, and higher quality of engaging content is now more important than volume of information.
The data shows people are spending 350 seconds on a company’s website when it has a video on the page compared to 42 seconds when are just text and images. You have about .05 seconds to make an impression once a visitor lands on your website.
Fact: Tinder only spent $7,600 to build its presence as a web app rather than a website. More and more companies are ditching complex websites with many pages for more simple web apps since consumers are spending less time on companies’ sites. In addition, number of clicks are no longer a good indicator of engagement, but the amount of time a visitor spends scrolling.
Salesforce is no longer the best CRM tool for entrepreneurs because of a change in payment policy from monthly to yearly and cost per seat is too high. Instead of charging customers $3,000 monthly, Salesforce is requiring customers to pay the $36,000 annual fee all up front.
It also now competes with very good new entrants – such as Base CRM, Insightly and Zoho – and in that market who will only charge you for what you use rather than what they want to sell you.
SOCIAL MEDIA STRATEGY: DASHBOARD OR NATIVE SITE
Customer acquisition must evolve along with customers’ technological use patterns. Caleb Spivak discussed how social media dashboards can be key in finding customers and saving money on labor.
HootSuite is the leader among social dashboards. By mastering the search, field management, and publisher features on the application, a company has the potential to save $7,190.94 a year on marketing, for the cost of only $10 per month.
DISRUPTION: THE JOINT
When Jeff and Cindy McGinty started The Joint Chiropractic and Massage Envy, the companies were disruptors in the health and wellness industry.
“Why work for a disruptor?” was one question Cliff Oxford asked the company Thursday morning. According to one doctor who was present, going back to the basics of chiropractics without having insurance, billing and copay as barriers to efficiency and convenience made the company attractive to them and other good talent.
Today, the company has around 350 locations nationwide and maintains its emphasis on convenience in price, time, and processes.
The Joint offers Oxford Members a complimentary first visit at the following locations: Buckhead, Buckhead North At Chastain, Brookhaven, Sandy Springs, Johns Creek at Haynes Bridge, Roswell, and Alpharetta at Windward.
COMPETING, COLLABORATING, OR BOTH?
Penny Delivers is a food delivery company that brings food directly to customers for the price of one cent.
Owner and founder Zach Zelner didn’t intend to be a disruptor in the food delivery service when he started his business four years ago. Originally, Zelner started a cookie delivery business, which grew into a bakery that delivered food when his competition began to notice the company’s excellence in delivering services.
When he began collaborating with competition to deliver their products, Zelner found his company’s niche. He teamed up with a few technology pros, began managing a team of delivery drivers, finessed a system that scales quickly, and Penny Delivers was born.
Fellow Oxford’s member Zifty has met with Penny Delivery to discuss best practices and standards. Collaboration with competition is a standard practice in Silicon Valley.
INNOVATIVE MARKETING IN TRADITIONAL COMPANIES
“Avoid becoming a dinosaur business.”
That’s Ann Stallard’s advice to more traditional companies such as print media.
Both Reporter Newspapers and Best Self Magazine were among the fast-growth companies present at EBII. Both avoid going the way of the dinosaur by using social media and maintaining an online platform – which, they admit, sees much more engagement than their print publications.