ShareWorthy: Engineering student produces 3D printed arm at 1/100 the price

Robert Downey Jr surprises kid with his new Ironman arm. Produced by a team of engineering students at University of Central Florida, these prosthetic arms are made from 3D printers at 1/100 of the price. Typically it’ll cost about $40,000, now with 3D printing technology, each electronic limb piece takes about 30-50 hours each to be produced at a cost of $350. That’s making the world a better place, one small printing feat at a time.

Kudos to Limitless Solutions.

post via Inhabitots.

MarketingBiteSize 101 – How to achieve organic growth for your site?

In the last post, we talked about how PPC works and understanding the various levers that impact your ROI for paid advertising. Today, we’re going to talk about Organic Growth, which is particularly useful for a start-up company, also known as growth-hacking.

Organic growth means growing your user base, and driving traffic to site without paying any money. And how do you do that? Here are several ways:

1. Content Marketing – 

Content marketing is all about generating highly relevant content for your user-base. For example if you have a cooking-blog, (a delishcious site written by a friend who is currently based in buenos aires, she moved over for love :), aside from recipes on site, one can also write about methods of cooking such as slow-cooking using a slow-cooking pot that would roast your beef stew in 12 hours, or how to use an air-fryer (include this is in your xmas wish-list this year, it’s worth it) to fry chicken wings, without a drip of oil. Relevance is the keyword here when it comes to content marketing. You can include a post on calories-count, or benefits of olive oil to reach out to the health conscious readers. Content marketing requires planning ahead, consistent and authentic article not only drives user to your site, but keeps them coming back for more.

2. Forum participation, information sharing is caring – 

Another way to grow your user-base organically is to participate on other blogs/forums/sites, compile a handful of sites that you can share your views on. Quora and Reddit needs no introduction for tech-start-ups. Find out about other forums that are more specialised to your product/service. If you do have a food-blog for example, suggesting someone on secret nooks for handmade-cocktails on Yelp would reach out to more audience that would be keen on your recommendations.. that’s how I find out about Pearl’s Deluxe burger in LowerNobHill downtown SF, worth every greasy onion rings.

3. Integrate your social media channels – 

From Twitter, to Facebook users to Google + page, LinkedIn) and about.me, I suggest you plan a weekly post to engage your fans. When using these social media channels to update your fans on new features or content, be human when sharing information through these channels. Eg. you just bought a new standing desk for your office, why not share it with all, or you find out about that book that can be converted into a furniture called Bookniture, it’s highly functional, and you can pre-order it from Kickstarter. It looks great and it doesn’t break your bank account, your fans would love it in their home/office too, share it!

You might think, “but I run a fashion retail company, and all my post on Pinterest should be about clothes? no? No. you can create a separate board on Pinterest – and call it “things we love aside from clothes”, your fans would love to see those pics you took when you were on vacation in Maldives, who wouldn’t?.

Now the next question is how do I manage 5-6 social networks and schedule multiple post at various timings? You can use Hootsuite, or SproutSocial to integrate your social networks and automate scheduling different post for different timings, especially when you have customers/users in different time zones.

4. Be viral in your post,

One of the best examples of viral content on Instagram is @miserablemen, brain-child of an e-commerce company selling men’s clothing online – genius. More viral content examples here, and here, and motivational quotes for Mondays.

 5. Let your readers be your ambassadors

This is easier said than done, but with great content on multiple channels to share and engage with your fans, post one relevant post every three days, you’ll have organic growth. Learn more about growth-hacking here..

6. And if you are a start-up company and have a million things to do at hand with little money –

..here’s a list of freebies to use to growth-hack your way through one step at a time.

MarketingBiteSize 101 – How to calculate CPA?

One of the most common topics that came up, especially for a start-up company drafting a financial model, is CPA (cost per acquisition), and CPL (cost per lead).

Cost Per Acquisition (CPA) is the cost of acquiring your user, that typically involved a user transaction, meaning the user making a purchase of your product or a service, a successful sale.

Cost Per Lead (CPL), on the other hand, is the cost acquiring a contact, an email address for example, a potential customer in the future.

Depending on the nature of your business, you might want to consider including cost per lead as an ROI variable. Your service or product might be a high-ticket item such as a camera. Typically a website browser will not buy a camera online at first browse. He might be browsing your camera website, along with multiple other websites, but he likes what your services have to offer, because you provide additional cleaning services for example. Here’s an opportunity to let the browser stay in touch with your business, offer him an option to send over his email address to get more insights on the camera he’s interested in! – nice pop-up message would do 🙂

When you acquire a user’s email address, that’s a lead.

Now that we’ve demystify the difference between CPA and CPL. Here’s how we calculate them —

CPA:

Source Ads bought
CTR Clicks Signup % Buy a camera No. of buyers Cost CPA
Google 1M 0.50% 5,000 20% 50% 500 $5,000.00 $10.00

Here we’re assuming a conversion rate of 10%, and CPC (cost-per-click) of $1, which is mighty high for an ecommerce company.

If we assume our conversion rate is at 1% (5% out of the no. of users sign up on site buys a camera), see new table below:

Source Ads bought
CTR Clicks Signup % Buy a camera No. of buyers Cost CPA
Google 1M 0.50% 5,000 20% 5% 100 $5,000.00 $100.00

At 1% conversion rate, your CPA will be at $100. Thus depending on your profit margin per item, you can find out how if your CPA is < than than your profit margin per item and your LTV per customer, which is a sound business plan.

In the next post, I’ll go more in depth on how to tweak different levers of cost per click on keywords bidding, to make sure that you are in control of your marketing budget.

*LTV is lifetime value per customer

MarketingBiteSize 101 – Online Marketing, Where do I start?

This year, I’ve decided that I will publish and share all my knowledge on online marketing here. Why? .. because as an online marketing specialist, your brain tend to look this >>

brain

when in fact all you want to do in life in this >>

Skinny Dipping CD cover

So to help you and I compartmentalised our thoughts a little bit, I’m kicking off a series called

MarketingBiteSize 101.

It’ll cover online marketing topics for web, mobile, social, email, ppc, to mobile. All with the aim to drive more traffic to site, and eventually convert your browsers to fans/buyers/lovers (ie. increase conversion).

So today’s topic would cover an overview of where online marketing fits within the customer journey, the various multi-channels, and what client means when they say,

‘ I WANT A MULTICHANNEL MARKETING SOLUTION FOR MY PRODUCT’.

This usually means, ‘how do I market my product online through web, social, email and mobile?’

It really depends on what you are aiming to achieve – and that includes

1. Do you want to drive more traffic to site?

2. Do you want to have more sign-ups to your site?

3. Do you want to engage your current fans more on FB and eventually get them to purchase on site?

4. Do you want to reach out to more mobile users?

.. and the list of question goes on.

One way to address a marketing need is to look at the customer journey,

we can start by looking at this chart:

perfect-consumers-journey

image courtesy of: http://www.chuimedia.co.ke/

Your customer goes through stages of a buying process from awareness, consideration, purchase, retention to being an ambassador of your product – advocacy.  To have more people finding out about your product, first you need to have a beautiful website (one that is mobile responsive, meaning a website that adapts on multi-devices without having text or images being distorted). Secondly, in order for more people to find out about your website, you can either do paid search marketing or organic search marketing. Paid search marketing includes running pay-per-click (aka PPC) campaigns – through adwords or display ads with various search engine marketing networks:

Google Adwords

Bing Ads (Microsoft)

Yahoo Ads

These are ad networks that requires you to pay and bid for keywords in order for your ads to appear when users search for a type of product (or service).

Organic search marketing, would be mainly content driven, as of recent term, content marketing is gaining more importance as Google search algorithm prioritise sites with authentic and helpful content for users.

Content marketing is another marketing topic on its own. I will have another post just dedicated on that.

By looking at the overall customer journey, you’ll have a better understanding on how a customer is being reach-out to from the various marketing channel, both online and offline.

So here’s a start of this MarketingBiteSize series for anyone who is dabbling in online marketing. Whether you are a new business owner or a CMO who is responsible for driving sales, online marketing can be simple and easy to understand.

If you like this article, do share it and keep coming back for more 🙂