Ingredients of a Successful Web Business

Chris HarveyChairman, Caravat.com

General Director, VietnamWorks.com15 November 2008

Our Objectives Today

• A few thoughts on the ingredients of successful web businesses

• Discussion

Main Ingredients

1. A CLEAR objective – Fill a NEED!

2. CLEAR positioning (What is this site about?)

3. CLEAR and PRACTICAL monetization model

4. UX: Think like a user, i.e. “Don’t make me think!!”

A CLEAR Objective – Fill a need!

• What consumer problem does the site solve?

• Users don’t care about “cool” – they care about value

• Don’t try to fill too many needs – be a CATEGORY KILLER

CLEAR POSITIONING – What is this site about?

• Technology is necessary but not sufficient

• It’s all marketing

• Communicate your value clearly and quickly – “Why should I care?”

What is this site about?

What is this site about?

What is this site about?

What is this site about?

CLEAR and PRACTICAL Monetization Model

• Users pay for value they can’t get elsewhere. What unique value do you provide?

• “Hard value” – Users pay for transactions(VietnamWorks, Caravat, eBay, VinaGame)

• “Soft value” – Users don’t pay, just advertising(YuMe.vn, VNexpress, blogs, video sites, news sites)

• Hard value if easier to monetize than Soft value

• Payment payment payment!

UX Rule: Don’t make me think!

• “UX” = “User Experience”

• Bad UX: Users have to think

• Good UX: Users don’t have to think

• Go buy “Don’t Make me Think” by Steve Krug

UX Rule: Don’t make me think!

UX Rule: Don’t make me think!

Discussion