StartupTalky

Tag: ab testing software

  • Reasons why Shifts saw a surge of 5300% in their share value?

    SHIFT which is a software testing company that is based in Japan has seen an increase in its stock price of around 5,300%. The CEO of the company has shared the secret behind the surge in the stock price of the company. Let’s look at the reason for this bull run in the stock price of the company.

    History of Shift
    Business Model of Shift
    Rise in Shift’s Shares
    The Strategy of Shift behind the surge of Stock price
    View Points about Shift
    FAQ

    History of Shift

    Shift was established in the year 2005 by Tange. He was grown up in an ordinary family in the Southwest Japan and started the company after completing his master’s in mechanical engineering and spending more than 5 years in working for a consulting firm.

    Before entering the software testing business in 2009, Shift was involved in advising companies on how to improve their profits. Tange had conveyed that he would want to change the perception towards the job of software engineering from considering it as a second-rated job by increasing their pay.

    For example, for a service that would be charged in the market for 3 million yen would be charged 2.5 million yen by the company. This strategy helped them win more clients and the engineers who would get paid around 400,000 yen for their work would be paid 700,000 yen by Shift. This was possible by cutting down the middlemen.

    Yusuke Santo who is a software developer of a company acquired by Shift has said that his salary had jumped more than 70% post the acquisition. He said that Shift was a huge turning point in his career. Shift has acquired more than 14 firms from the year 2015 with an increase in their number of permanent engineers from 228 to 3,308.

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    Business Model of Shift

    Tange has conveyed that his business model is an attempt to remove the inefficiencies in the software industry of Japan. The subcontractors take cuts from the top industry and later pass on the work to the lower companies which reduces the pay of the engineers.

    He also said that it is a step to taking a break from the Mergers and Acquisition strategy of buying a business in order to reduce the cost. He conveyed that he is on a mission to rescue the young employees and would want to create a fair working environment through the Mergers and Acquisitions.

    Rise in Shift’s Shares

    The shares of Shift Inc. have seen a rise of more than 5,300 % since the day it went public in the year 2014. The company is considered to have shown the second-best performance in the benchmark of the Tokyo stock index.

    The market capitalization of the company has seen an increase to around USD 2.3 billion, where Tange holds 33 % of the stock which has a valuation of about USD 745 million.

    The market size of IT Industry in Japan
    The market size of IT Industry in Japan

    The Strategy of Shift behind the surge of Stock price

    The CEO of the company Masaru Tange has shared the strategy where he says that increasing the pay of his engineers is the secret behind the surge in the stock price of his company. He conveyed that he acquired smaller firms and increased the pay of the workers. This is the ultimate strategy that boosted the share price of the company.

    The company would acquire other businesses that are at the bottom of the supply chain industry and increased the salary of their engineers. He communicated that he is able to do so and charge competitive prices from the company’s clients by cutting down the company’s that act as a middleman in the outsourcing process.

    He added that having more workers in your company leads to an increase in the number of sales.

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    View Points about Shift

    According to Go Saito who is an analyst has conveyed that increasing the number of engineers leads to an increase in the revenue as the company will be able to do more business. The sales of the company can be derived by multiplying the number of engineers and the unit price for engineers.

    He also conveyed that the company has a highly qualified human resource as they have created a framework of skill developed engineers. In the year August 2020 the revenue of the company had increased to 28.7 billion yen compared to 208 million yen 3 years back.

    The company forecasts an increase in its revenue this fiscal year to 45 billion yen and is expecting to reach 100 billion yen by the end of 2025. The CEO of the company has said that the company is the best in its field in Japan.

    FAQ

    Who is the founder of Shift?

    the Founder of Shift is Masaru Tange who founded the company in 2005.

    What does Shift Inc. do?

    Shift is a software testing company, headquartered in Tokyo.

    What is the revenue of Shift?

    The revenue of Shift was ¥28,712,177 thousand in 2020.

    Conclusion

    The shares of Shift haven’t fallen much and the most recent was during the month of October where the company had seen a fall of around 22% as investors had sold high-technology stocks. Even after the fall in shares, the company is estimated to be trading more than 80 times the estimated earnings.

  • Manage your customer’s experience with Taglayer

    Turn visitors into loyal customers by enhancing their experience

    One of the most important metrics of running a business is customer loyalty. Happy customers that continue to buy from you, help your business thrive even in the toughest of times. New customers tend to come by harder, they cost more to acquire and they don’t spend as much as loyal, repeat customers.

    It goes without saying that the success of your business depends on customers who you keep coming back to as they help you grow and keep your profits high. While it’s obvious that customers that spend more money on your products are good for business, there are more subtle benefits to faithful customers.

    Imagine your business as a bucket. You fill the bucket in with customers and the more you fill the bucket, the more successful your business is. But what if your bucket has a hole and you keep losing customers.

    Even if you are new to the market and you have a lot of new customers pouring in, your profits will only last for so long. If you don’t manage to seal the bucket and stop losing your customers, your business might fail or lose out to the competition.

    This is why customer service is essential for any business, and using the right tools is crucial for the process.

    Taglayer enables you to convert visitors into loyal customers
    Taglayer enables you to convert visitors into loyal customers

    Taglayer – What can it do for you?
    Taglayer – Pricing Plans
    Taglayer – FAQ’s for Integration
    Conclusion

    Taglayer – What can it do for you?

    Taglayer is a customer experience builder made for business marketers to build and sustain healthy relationships with customers. It enables you to show your customer the right content at the right time and in the right channel to turn visitors into loyal customers.

    With this tool, you can find out the interests of every individual visitor, so that you can personalize their experience better. You understand your customer better by keep track of their activities across different channels.

    Here is what it does:

    1. Understand your customer’s behavior

    Find out the part of a customer’s journey which makes them convert and act upon the data or churn.

    • Organize your workflow
      Taglayer highlights what requires immediate attention with relevant data to back up your action. Get a deeper understanding of customer psychology by showing you only the most relevant metrics.
    • Collaborate with team
      Find out the channels that acquire the most engaged prospects and convert more visitors in a collaborative effort. Build funnels, set goals, and measure your own progress, without any code. Create and share interactive dashboards with your team.
    • Measure results
      Pick an action and see how your visitors get there and what they do afterward. Compare patterns of returning users and new users to spot differences in experience so that you change what is needed. Understand how a visitor navigates your website so that you know how to guide their experience.

    2. Analytics

    Do you want to know what the interests of your visitors are? Or where they come from? When they will convert or churn? With a detailed analytics report, you can measure everything that you need to know about your visitors.

    • Conversion / Churn predictions
    • Interests
    • Demographics

    3. Visitor CRM

    In Taglayer’s visitor dashboard you can see a product or content recommendations for each visitor. This will allow you to contact them in an easy, personalized manner.

    4. Conversions

    Measure every action. You can even create funnels to find out where and when the visitors convert.

    You can do all this without any coding required.

    5. Automate experience that convert

    You can use the data gathered from Insights, Tracking, and other metrics to personalize visitor experience in the no-code visual editor. Everything from images, texts, elements, and popups can be personalized on your website.

    You can automate the experiences that result in conversions without any extra effort. Not only will you make it easy for visitors to find out what they like quicker, but you will also save time by automating these strategies for the best outcome.

    6. A/B testing

    You can test your own experience by creating A/B tests in Taglayer’s editor and measure the results in its dashboard before implementing the changes.

    Taglayer's A/B testing dashboard
    Taglayer’s A/B testing dashboard

    7. Retain you audience

    With email personalization and targeting, you can walk the extra mile to convert your visitors into loyal customers. You can analyze your best campaigns and recommend them in the right channels to optimize their experience and make them want to revisit again.

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    Taglayer – Pricing Plans

    Starter Plan A – $99 /lifetime

    • 3 users
    • 5 Journeys
    • 10,000 PageViews
    • Analytics
    • Editor
    • A/B testing
    • Personalization
    • Pop-ups
    • Conversion tracking
    • Templates
    • Support 48h
    • Reports
    • Integrations
    • Marketing Automation
    • 60 Days Refund Policy

    Business Plan B – $199 /lifetime

    • 5 Users
    • 15 Journeys
    • Marketing automation
    • No PageViews Limit
    • All the Features from the $99 Plan
    • 60 Days Refund Policy

    Ultimate Plan C – $595 /lifetime

    • 20 Users
    • 100 Journeys
    • Marketing automation
    • Unlimited PageViews
    • All the Features from the $99 Plan
    • 60 Days Refund Policy

    Taglayer – FAQ’s for Integration

    How does your AI work?
    By detecting user behavior and serving content based on their preferences.

    How do I publish cases?
    By selecting ‘publish all cases’ under the ‘Convert – cases’ tab. This button will publish every case once it is enrolled in a journey.

    How do you connect to our CMS/website?
    By installing tracking code (cfr. Google Analytics). After the tracking code is installed, we can track the behavior of your visitors and make changes to your website.

    Is it possible to connect with our CMS system?
    Connecting with every CMS is often not necessary. Although, depending on your needs, we will review the need for integration with the current CMS

    Conclusion

    Grow your business with Taglayer.

    Many companies don’t have a lot of options to generate traffic and then convert them into customers. As website traffic is hard to come by and can be costly, investing in the personal experiences of your visitors will be crucial to your business model.

    When they come to your website and find the right information or content at the right time, they are more likely to visit again in the future. By showing content that is relevant to their needs, more visitors are likely to convert. Your business will definitely grow after successful conversions and so will your budget to attract more traffic.

    What’s more, you can integrate Taglayer with every website. Connect Taglayer to the tools you already use to make it your central, organized hub for building data-driven experiences.

  • How to do A/B Testing to Increase your Sales | Guide to A/B Testing

    Do you want more Click Through Rate (CTR)? Who doesn’t? Then you must know about A/B testing. A/B testing is a method for figuring out the best online promotional and marketing strategies suitable for your business. A/B testing helps you to make decisions like which image to include in the website, which email subject lines to use, CTA buttons, etc. Here is a guide to A/B testing tools and how it will help you create better plans and generate more sales in the future.

    We have presented A/B testing tutorial that can increase the effectiveness in your marketing efforts. It can be used to test everything from website copy to sales emails to search ads. These are some of the small factors which affect the website a lot. And advantages A/B testing are that it helps market your business effectively. Finding out most effective elements of a promotion, and then combining them, can make your marketing efforts much more profitable and successful.

    What is A/B testing?

    In business terms, A/B testing refers to a randomized experiment where there are two variants of a product, viz., A and B. It includes the application of statistical hypothesis testing. A/B testing compares two versions of a single variable found on the subject’s response to variant A against variant B. Then it decides which among the two variants is more effective. It is also known as bucket tests or split-run tests.

    For example :– You design two templates for your social media posts. You can post content with the first template at different times of the day throughout the week. Then, next week, you can post content with the another template but on the same time and day. In both the cases, record the the engagement rate of the posts. After the experiment, you will be able to see if both the templates are doing same or not. If not, use the template with the most engagement. The same concept can be used for the websites.

    Also Read:  How to Generate Leads – 100 Proven ways

    How does it work?

    a/b testing statistics
    A/B Testing process

    A/B testing works on the viewer’s experience. You can directly ask people which one of two versions they like. However, that could be so old fashion. So, you can use some services which will use one version for the first 1000 impression and the other version for the next 1000 impression. Then you can easily compare the CTR of both the versions. Then use the best one for your website.
    Please don’t confuse in “versions”. The word “version” includes all the elements of a website like the CTA button, thank you page, landing page, sign up form, etc. You don’t have to create two web pages for testing, you can test each of them individually just by updating the page.

    Advantages of A/B Testing

    Easy Analysis: After testing both the version, you can easily analyze the data and then implement accordingly. The data will be easily readable for you.

    Improved Website: After analyzing which version works best for your website, you can improve the content of your website. More people will love your website’s content.

    Bounce Rate: As more people will like your content, the bounce rate of the website will eventually be reduced. However, you will have to implement the changes to the website according to the data.

    Conversion Rate: Obviously, if you will have better content, your ranking will be good and you will have more conversion rate.

    These were only a handful of advantages of A/B testing. When you will test it on your website, you will observe many more changes to your website.

    Limitations of A/B Testing

    Nothing is perfect. Here are some limitations of A/B testing.

    Limited Testing: You cannot test everything in just one attempt. You have to test each factor separately. For instance, you have to check one sign up form and then another one, and then you can go for testing the next element like thank you page, buttons, etc.

    Quantity Not Quality: There is no surety that the majority of users are quality users. For example, you have tested two sign up form and form number 2 has more sign-ups than form number 1. But you don’t know that those people who have signed up from form number 2 will buy your product more than those of form number 1. So, the quality of the users still can’t be analyzed by A/B testing.

    Slow: The process is very slow as you have to test each element of the website separately. Therefore, you have to give so much time analyzing the data. Moreover, it will also be expensive if you are taking an expert’s consultation in case you are paying him/her according to the time.

    Best Tools for A/B Testing

    Some tools which you can use to analyze the data of your A/B test are:

    • Google Analytics
    • Unbounce
    • Optimizely
    • Kissmetrics
    • AB Tasty
    • Crazyegg

    These are some of the top tools which will help you in A/B testing. However, there are some services like Zoho, Notifyvisitors, Kentico, etc. which will ease your work for A/B testing a website.

    Also Read: How to Do Target Market Selection For Your Business

    Conclusion

    A/B testing should be done only if you have a good amount of visitors. You should perform A/B testing if you have a traffic of more than 1000 visitors. The more the people you test it on, the more accurate results you get. There are tools and services which will automatically change the element to test another one.