Flatiron New York | netamorphosis - Digital Agency
Flatiron New York | netamorphosis - Digital Agency

Ad Cost Ratio

noun

A measurement of effectiveness, typically of an advertising campaign, that is calculated by dividing total advertising expenses by sales revenue. The advertising-to-sales (ad cost) ratio is designed to show whether the ‘spend’ on an advertising or marketing campaign is successful, as a function of both delivering new revenues and how these revenues relate to the cost attributed. A low ratio may indicate a positive ROI in generating efficient revenue, however, varied marketing mediums and efforts may require short vs. long-term views in evaluating effectiveness of a particular marketing campaign or effort. When determining a netamorphosis client ‘build’ budget within the netamorphosis growth process, neta applies an ‘ad cost’ ratio as a budget planning and performance management tactic to ensure that incremental (new) revenues as well as profitability, defined as net income, are achieved within a 3-year time period.

Analytics

an·a·lyt·ics

noun

Actionable information resulting from the systematic analysis of big data or statistics. In our terms, analytics serve as a directional guide, revealing insights directly related to our client’s customer behavior, that leads to strategies as to how we can collectively facilitate deeper customer engagement. We’ve worked across a variety of analytics packages ranging from Google Analytics to more robust eCommerce 3rd Party solutions such as Omniture and devised custom reporting capabilities for older, less nimble or sophisticated database architecture.

Build

/bild/

verb

1. construct (typically something large) by putting parts of material together over a period of time.
SYNONYMS: Construct, Erect, Put Up

noun

2. in the reference of computers/software/eCommerce – a compiled version of a program.

Once we’ve outlined a strategic plan, our ‘build’ means implementing the tactics of that plan and putting it into place over the next 3-18 months. It may involve everything from design & programming, to resource procurement/hiring, team building and goal setting.

Our philosophy surrounding ‘builds’, especially if it’s an eCommerce or website platform, is that the platform should have a minimal life span of 3 years with an ideal target of 5+. Many of the websites where we’ve overseen architecture, design and development have lasted up to 10 years, an eternity in the land of technology, but not the impossible. If the appropriate eCommerce or web platform framework is built, much like building a house, you should be able to add furniture, extensions/additions or even a pool house, when the time is right. We typically envision the future scale we set out to achieve and based on the infrastructure and budget for each launch, scale that platform for its immediate debut and revenue objectives. We’ve found this progressional and scalable approach to website infrastructure best serves our launch budgets, current and future customer and revenue targets we establish prior to initiating any design or programming.

CAGR {Compound Annual Growth Rate}

CAGR is the year-over-year growth rate of an investment over a specified period of time. CAGR is not an accounting term, but is used to gauge the efficacy of performance management within some elements of a business, such as: revenue, registered users or units delivered. It’s particularly useful to compare growth rates from different data sets, such as revenue growth of companies in the same industry.

Since 2011, clients who have undergone the netamorphosis growth process collectively average a 208% CAGR within a 3-year period. This is a reflection of topside revenue growth, within the channels of business that neta is tasked with growing. In determining a client’s build we formulate our client’s budget based on this 3-year incremental revenue potential, at a traditional ad-cost ratio %, that facilitates ROI (return on investment) on an equally accelerated timeline.

CAPEX {Capital Expenditure}

Capital Expenditure, or CapEx, are funds used by a company to acquire or upgrade assets; traditionally, this was limited to physical assets, such as property, or equipment, but in the digital economy it can also be used to categorize investment in digital or technology such as software that will have a lifespan of 5 years (whereas physical assets are typically relegated to 10 years, by which they are accounted for via a 10 year amortization within the P&L and Balance Sheet).

As part of our Strategy service offering, we evaluate whether a Build, which in our terms means a direct-to-consumer re-positioning, is required in order to achieve maximum digital growth objectives.  Should a Build be recommended, and ultimately inevitable in order to reverse downward performance trends or to significantly increase conversion rates, we work with the C-suite of the companies with whom we partner and inversely if an earlier stage, with investors to ensure that such re-positioning efforts are appropriated in the most efficient means possible to afford growth in our Capital Raising service offering.

CMS {Content Management System}

A content management system is a computer application that supports the creation and modification of digital content. CMS implementation is often used to support multiple users working in a collaborative environment. Content management is the administration of digital content throughout its lifecycle. The content involved may be images, video, audio and multimedia, as well as, SEO related data fields, including meta or text. For SEO, our preferred CMS is WordPress which is an open source CMS, and offers a wide range of options that are both administrator (or client friendly) and developers alike.

Conversion Rate

Conversion Rate in the world of ‘traditional’ eCommerce is the number of orders divided by total traffic. It is also the primary metric utilized in analytics consulting to indicate the success of a transactional digital platform. If a conversion rate is greater than the industry average, it means that the right product is being presented at the right price point to the right target audience. At the outset of the .com days, conversion rates tended to be higher on websites of established brands, as there was typically less engagement competing with social media networking sites and other forms of entertainment vying for the attention of the online consumer. Conversion rates tend to fluctuate contingent upon industry/sector, country (where consumers may not have access to broadband, a necessary factor that makes purchasing online easier), and time of year; for example, the month of December has historically been the month of the highest conversion rates attributed to the holiday shopping season, and the highest month of retail consumption globally. Today, however, given digital attribution, conversion funnels extend offline to call centers, physical brick and mortar stores, and should be calculated via all customer ‘interaction points’. Given the prominence and influence of digital platforms as ‘marketing and transactional flagships’, our philosophy surrounding conversion funnels is that oftentimes a data pipeline needs to be excavated and constructed in which to understand ‘actual conversions’ that reflect digital influence across all transactional channels and therefore to be able to have a true sense on ROI.

CRM {Customer Relationship Management}

CRM is a system for managing a company’s interactions with its customers. It usually involves technology (i.e. software) that organizes, automates and synchronizes sales, marketing and customer service efforts to maximize a company’s relationship with its customers. The goal of a CRM system is to track, record, store and data mine customer behavior in a way that enhances the relationship a brand has with its customers and in turn increasing sales and decreasing ‘churn’.

Each neta strategy that serves as the foundation for the growth path of implementation, is centered around the company’s relationship with its customer. Our ‘customer-centric’ approach clearly identifies the emotional inter-dependencies between our clients ‘the business’ and their ‘customers’. Like any successful relationship in both business and in life, understanding the source of happiness, wants, needs and what each side ‘brings to the table’, is paramount prior to cultivating a sophisticated CRM platform, and fundamental to our approach.

Cross-Functional Teambuilding

A clear roadmap is the single most important element to the success of the companies we’ve helped and the blueprint for the platforms we’ve constructed. The strategic and tactical blueprint informs 3rd Party ‘build’ partners, potential investors and motivates staff towards accelerated growth. Phase 1 of the netamorphosis process focuses our collaboration in human resources (all resources, internal, as well as, external/contractors) evaluation (roles, tasks and capabilities) and discovery, which facilitates our understanding of the perspective(s) of everyone involved. We’ve found that collectively we make better decisions than top down or strictly from an external consultative ‘expert’ perspective. The internal strategy that results from our strategy service is ultimately the most comprehensive deliverable throughout our neta growth process and most relevant to the ‘core’/internal client team. What materializes in what we call Phase 2, is an evolution of this deliverable as a result of strategic planning in a myriad of tailored documentation required to bring on key partners such as investors, wholesale or licensing partners or graphic designers/programmers, tailored to each client’s growth path forward.

In subsequent website ‘builds’, neta continues our teambuilding focus, in the areas of developing RFP’s (Request for Proposals) for select marketing and 3rd Party acquisition specialist partners, in addition to the recruiting and hiring of key (part-time, full-time) resources as outlined within the strategy and to ‘support’ the new digital and systemic framework, and as neta segue-ways into an analytical and strategic advisor role when we tighten performance via two key service offerings; analytics consulting and performance management.

End-User {Customer}

“End-User”

In economics and commerce, an end user is a person that uses a particular product. An end user of a computer system, such as eCommerce or an interactive website or software, is simply someone who uses it. As 80% of our clientele have prioritized eCommerce and their digital as strategic areas of differentiation, this term is often used synonymously with ‘customer’.

Experiential Design + Marketing {XD}

Experience design is driven by consideration of the moments of engagement or ‘touchpoints’, between people and brands, and the ideas, emotions and memories that these moments create.

As a digital agency, we refer to experience design as XD. In the domain of marketing, it may be associated with experiential marketing. Experiential marketing is a marketing strategy that directly engages, invites and encourages consumers to participate in the evolution of a brand.

As it relates to carving out the growth potential of a particular client, we often prioritize and position the digital or eCommerce channel as the central channel for content dissemination and consumer experience, and ultimately outlines the intersection of the digital channel within the relation to its offline, and other digital domain outlets (social, blog, affiliates) and partner (wholesale, licensing and other distribution partners) touch points. There is an old adage, “a consumer that spends in more than 1 channel is likely to spend 4 – 5x as much with a particular brand, versus those customers that spend in just 1 channel.” This quote is from 2002 and continues to prove true along all sizes of the 60+ brands and companies we’ve helped in the past 18+ years, regardless of sector or product sold.

Fiscally Based

fis’cal·ly

adv.

of or relating to finance or finances. Oftentimes referred to as ‘fiscally responsible’ (ie. “The department could do much more than it is now proposing while remaining fiscally responsible”).

Lyde Spann had previously been head of digital/eCommerce for Fortune 500 companies and globally recognized organizations, and had only ever seen ‘service provider‘ pricing (be it creative agencies, business consultants or PR/marketing specialists), based solely on the costs and ultimately margins and overhead of those service providers, solely contextualized within ‘market rates’. Contingent upon whether overseeing financial planning of a ‘big budget’ or ‘no budget’, the same providers often proposed entirely different rates and engagement costs, without much diligence up front to understand what the respective organization’s goals were or in what netamorphosis now deeply examines as ‘growth potential’. It was more of an immediate assumption, what we might call ‘business profiling’. Given a superficial, and surface approach to pricing, client engagements have a stronger tendency to start off on the ‘wrong’ foot, with a lack of trust, and are often ill-scoped given premature assumptions that are never contextualized within a financial projection or basis that could serve as a collective goal.

At neta, we do not judge a book by its cover; we provide ourselves and our clients the opportunity to ‘get on the same page’ and merge our collective perspectives, insights and resources to create the optimal path forward, all defined within a financial projection and subsequent build budget or pricing that correlates to that projection, with a shared objective to reach profitability, re-cupping the build budget as quickly as possible.

KPI’s {Key Performance Indicators}

noun, plural

Key performance indicators (KPI’s) is an acronym synonymous with a quantifiable measure used to evaluate the success of an organization in meeting objectives for performance management. This term, which is commonplace within many business organizations, digital agencies and a “key” factor in analytics consulting, it is often ‘generalized’, where choosing the right KPI or KPI’s, relies upon a detailed understanding of business processes and what is important to the organization. For example there could be a metric of traffic to a website, of which a metric is typically defined as orders divided by traffic. However, if your business sells a service that relies upon a call center, then the KPI becomes a metric defined by the number of telephone calls that call center receives from the traffic garnered to its website. But then it goes a level deeper, what happens if that call generated did not result in a ‘conversion’? Now there is a new KPI that has materialized between the call center representative who answered the call, what transpired and what may or may not have contributed to the conversion and booking of that service. One thing is for certain in data consulting, that if an organization is growing, KPI’s consistently shift, and it requires adaptive business logic and data excavation to continue to understand what has the greatest impact on company performance.

Legacy Systems

A legacy system by definition is an older method, technology, computer system, or application program, or relating to or being a previous or outdated computer system. Within traditional retail companies, and truly any company that has scaled its systems, there will come a time when a system will become a legacy system. It translates to a system that has to be ‘worked around’, and it can be an impediment to growth and an organization being able to adapt to contemporary software system integration that serve more dynamic front-end user experiences. Often times, newer software also has restrictions in the ways that it is able to ‘receive’ data, and therefore a middleware needs to be introduced, which represents a middle step that typically normalizes data within the requirements of each system. Middleware is constructed in order to communicate between systems, that facilitates the passing of data from one system to the next. The challenge involved with integrated systems is both the most contemporary or newest software and the relationship with legacy systems is that often Developers or Programmers that are certified within a new(er) software may not have intimate knowledge or better yet, solutions for interfacing with a legacy system. And while developers and programmers of the most cutting-edge technology in theory should be able to build creative solutions using at times rudimentary call and response logic, often times this is overlooked within the tech world’s quest to be on the newest thing, resulting in a dearth of integration specialists. Thankfully, that’s what we’re here for.

Licensing

A business arrangement in which one company gives another company permission to manufacture its product for a specified payment. Once brand equity reaches a specific level, there are few faster or more profitable ways to grow your business than by licensing patents, trademarks, copyrights, designs and other property to other companies, which allows you to instantly tap into existing production, distribution and marketing systems that other companies may have spent decades building. In return you get a % of the revenue from products or services sold under your license and in certain instances ‘design’ or ‘licensee/licensor’ fees for participation.

We’ve had experience with the following organizations related to brokering and strengthening licensing arrangements: MoMASanyoHyundaicardTargetKirna Zabête, Nine WestPico DesignFrank Lloyd Wright’s FoundationDynomightyand the CLC {Collegiate Licensing Company}.

Metrics Driven

Metrics is a word that means exactly, “measurements”. All companies strive to measure productivity, success and growth by different numbers, the broad term for those unique numbers has become metrics.

A synonymous phrase that was formerly used more often is ‘key performance indicators’ or KPI’s, which are a set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting strategic and operational goals. KPI’s vary between companies and industries, depending on priorities and performance criteria.

In every client engagement, our performance management strategies are centered around ‘our measures of success’, these are in essence KPI’s that typically relate to revenue, audience behavior (marketing) and channels of distribution objectives. When we refer to ‘metrics’ driven we are referring to the components of data consulting by which we’ll define our client’s success, and then the consistent analytical reporting that measures performance against these metric benchmarks and goals.

Net Income Rate {Return Rate %}

Net income growth is the % gain (or loss) in net income over time. It’s a good indicator of the rate at which companies have grown profits. Stocks with higher net income growth rates are typically more desirable than those with lower net income growth rates.

Investors are particularly enamored by companies with net income growth or EBITDA (Earnings Before Interest, Tax, Depreciation or Amortization) in the double digits or greater than 10% growth, and equally important are those companies that have accelerated earnings growth. More mature firms will have lower, more constant levels of growth and typically compensate investors with greater dividends instead of high growth rates. When calculating net income growth for multi-year periods, net income growth is usually compounded.

We firmly believe in defining both topside revenue growth rates (CAGR – Compound Annual Growth Rates) and Net Income Growth Rate projections as indicators of performance management, that target both accelerated bottom line growth trajectories and the most expedient timeline possible for recouping build CapEx (capital expense).

Omnichannel

Omnichannel is the ability to interact with potential customers or clients on various platforms. A channel might be a retail store, an eCommerce web site, a call center or direct personal communications by social media, email, text message, or snail mail. At its most simplistic, omnichannel strategy is about prioritizing the consumer’s ‘choice’. The objective of companies in delivering a successful omnichannel experience is to make it easy for a consumer to buy in whatever way is most appropriate (to them). The challenges facing most organizations today in delivering an integrated omnichannel operation centers around technology and systems integrations that are problematic in that software is inherent to each channel and often built around separate transactional and business requirements. Then, there is the quandary of attribution. If an eCommerce website promotes new merchandise, and yet as a consumer I prefer trying on that merchandise in a retail store or showroom environment how does the eCommerce website who may have promoted this arrival via an email campaign or social media campaign receive ‘credit’ for generating consumer sales demand, as a successful means to evaluate ROI? The biggest problem, however, is often that “channels” within organizations are operated as siloes and teams are therefore not cross-incentivized. Instead they are typically provided autonomous ‘channel’ performance management targets and not ‘omnichannel’ objectives.

Architecting and successfully rolling out an omnichannel (also referred to as an online–offline) operation is the greatest on-going challenge facing any dynamic organization today that is beyond a pure-play digital operation. This capability also happens to align exactly where our expertise is strongest.

Open Source

Open source, in technology, typically denotes software for which the original source code is made freely available and may be redistributed and modified, but at its core translates to a decentralized model that encourages open collaboration. A main principle of open source site maintenance and software development is peer production. The open source movement in software began as a response to the limitations of proprietary code. At the core of the netamorphosis collaboration model, is a philosophy that open source collaboration and omnichannel strategy produces better results when communication is streamlined amongst technically appropriated resources. While we support open source technology and software platforms such as Magento for eCommerce or WordPress for content-rich platforms, and therefore, it is fundamental to our practice as a service provider, we embrace this as a core philosophy in the ways in which we partner with companies and organizations to become an integrated part of their web maintenance and resource framework, that align our efforts through shared metric-oriented objectives towards team achievement.

ORG {Organizational} Chart

An organizational chart (often called an org chart) is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs. For companies of all sizes and scale, org charts comprise a heavy focus of our strategic planning; be it a mix of internal staff/resources, 3rd Party contractors and consultants and even intern/administration support (i.e. hands on deck). In all instances of bringing a brand to market (a launch) or devising a growth strategy that calls for reinforcement in order to stabilize a growth trajectory and support a more diverse distribution and marketing strategy in the market, org charts typically map out the work flow and infrastructure required to achieve that next growth iteration.

In almost every type of client engagement we take on, during the ‘launch’ or ‘re-launch’, or now in our performance management service, netamorphosis ultimately behaves as a CMO/COO or Executive Producer ensuring that all resources are brought on board and equipped with the appropriate role and responsibilities to support the growth formulated.

P&L {Profit & Loss}

A financial statement that summarizes revenues, costs and expenses incurred during a specific period of time – usually a fiscal quarter or year. These records provide information that shows the ability of a company to generate a profit by increasing revenue and reducing costs, also known as an ‘income statement’. The bottom line (literally and figuratively) is net income (profit).

The balance sheet, income statement (P&L) and statement of cash flow are the most important financial statements produced by a company. While each is important in its own right, they are meant to be analyzed together.

The P&L is our fundamental planning tool in understanding current indicators of performance management and projecting the future operational growth resulting from one of our growth strategies. For existing businesses, the P&L is then ‘backended’ with the company’s balance sheet to ensure financial resourcing in order to implement the strategic planning from a financial perspective. Contingent upon high-level cash flow analysis, more detailed (monthly) cash flow projections are devised, which also inform vendor and resource negotiations to promote ideal client-centered payment terms.

For earlier stage, less mature companies (what we’ve termed ‘0 – 2 year olds’) where formal financials may not yet be ‘up to snuff’, or there may not be a resource allocated to financial diligence, neta will serve as a guide to vet assumptions and ensure that client operations are well-equipped to deal with the realities of entering and competing within the current marketplace (sector).

PIM {Product Item Master or Management}

Product information management (PIM) is a term used to describe the management of information required to market and sell products through distribution centers. Prior to the advent of eCommerce selling, systems (which still exist today) that stored product information and in essence served as product databases consisted of inventory systems, OMS (order management systems) and POS (point of sale systems). Within eCommerce software platforms, PIM is usually housed within the CMS (Content Management System). The more distinct channels and legacy systems exist within an organization the more communication; i.e. data mapping and software system integration needs to occur in order to achieve the all-important “real-time” inventory. The larger organizations with systems that need to scale become, the more margin there is for inconsistencies and site maintenance, software update malfunctions that may impact an end-consumer’s experience, and therefore we liken the PIM to the ‘heart’ of most if not all retail systemic infrastructures.

Platform Agnostic

You’re in technology heaven when your software is ‘platform agnostic’. It means it’ll run on any computer operating system such as Linux, Unix, Windows, Mac, etc.

[netamorphosisis] is ‘platform agnostic’, meaning that we are not a software or hardware-reliant service provider tied to a specific platform or programming language or environment. With that said, we’ve been brought in ‘as a doctor’ (of sorts) to help businesses align their operations with a robust eCommerce strategy that utilizes platforms that typically require programming partners to be certified in order to ensure feasible implementation given complicated software and API’s (ref. Application Programming Interfaces).

When constructing our maintenance & hosting service offering it was paramount that the user experience would be dictated by our client’s needs in tandem with their client’s needs, not by a technology or a digital environment’s infrastructure that has little to no bearing to our clients and the products they excel in making and delivering to the market.

QA/QC {Quality Assurance/Quality Control}

Quality Assurance (QA) is a way of preventing mistakes or defects, when delivering solutions and platform services to customers. QA is applied in pre-production to verify software, such as eCommerce platforms, meet client business specifications and requirements, and ensure that code is relatively bug free prior to shipping or releasing software product or versions.

Given the complexity of eCommerce strategy and its platforms, ultimately their integration with many different plug in software systems (i.e. analytics packages, Order Management Systems, social media plugins, shipping vendors, payment processors, merchant banks, affiliate marketing, etc.), upholds a systematic measurement, prioritization and comparison with standard, streamlined communication processes and an associated feedback loop that strengthens error prevention.

ROI {Return on Investment}

noun

Return on investment, or ROI, is the most common profitability ratio used in performance management, most commonly expressed as a percentage. ROI at its highest level deals with the money invested into a company and the return realized on that money based on the net profit or EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization).

ROI can be used in analytics consulting in several different ways to gauge the profitability and capital raising within a business. It can be applied within a marketing budget (or marketing P&L); it could be used as a measure of inventory investment, or to gain an understanding of CapEx return. ROI is fundamental in all Strategies, including data consulting that we develop, as well as, an on-going barometer for all marketing budgets and initiatives that we oversee including our SEO service, where we’ve been able to drive higher returns than every single prior SEO partner whom we’ve replaced.

SEO {Search Engine Optimization}

Search engine optimization (SEO) is the process of affecting the visibility of a website or a web page in a search engine’s ‘natural’ or un-paid (‘organic’) search results. In general, the earlier (or higher ranked on the search results page), and more frequently a client’s website appears in the search results list, the more visitors it will receive from the search engine’s users.

As an internet digital marketing strategy, SEO considers how search engines work, what people search for, the actual search terms or keywords typed into search engines and which search engines are preferred by their targeted audience. Optimizing a website may involve editing its content, HTML and associated coding to both increase its relevance to specific keywords and to remove barriers to the indexing activities of search engines, and ranges upon sophistication levels.

With all neta client website ‘builds’, there is a focus on attaining prime positioning within ‘The Google Golden Triangle’, by ensuring that client site’s (web) page hierarchy and site infrastructure (organization) results in optimizing our clients organic (Google) search results. However, SEO is a complicated initiative and when we advocate an aggressive and specialized SEO and SEM (paid search) user acquisition tactic, we often advocate a separate SEO services engagement, that will prioritize this work and delegate both neta and client resources towards attaining specific performance objectives.

UAT {User Acceptance Testing}

See QA/QC for the full definition of pre-production verification processes. When we are in the ‘development’ phase of a website build user acceptance testing (UAT) typically refers to our client’s role and participation within a platform’s bug reporting, ensuring that all web pages, features and functionality meet our expectations preceding the ‘green light’, or when we ‘flip the switch’ to go live (to production).

In all site builds, neta ultimately serves as the power user or tester, advocating when a site is ‘stable’ from the client perspective and contingent upon the parameters of its launch, recommending when it should go live. It is the client’s acceptance of the site, and ultimately authorization that facilitates its launch and the programmer’s code propagation to the production environment.

User (Customer) Acquisition

At its most simplistic, customer acquisition can be termed as ‘techniques used to gain new customers.’ As this definition gets expanded, it encompasses the process of persuading a consumer to purchase a company’s goods or services. From an analytical perspective, the cost associated with customer or user acquisition becomes an important measure for determining marketing budgets and tactics, and ultimately the ‘lifetime value’ a customer typically brings to a business.

Once a brand platform is positioned, typically signified by its ‘go live’ or its push to production, the business and strategic focus shifts towards driving ‘users’ to the platform’s channels of purchase. Given the importance and speed in which customer acquisition must take, given market competition and the consumer’s channels of choice, netamorphosis offers performance management , where we serve for a period of time as our client’s CMO or Head of Digital Acquisition, working with both 3rd Party marketing specialists and existing client-side teams that are intimate with specific niche audience acquisition opportunities order to maximize traffic targets in order to hit monthly (traffic) projections and audience acquisition goals (i.e. email registrants, social media captures, multi-channel purchasers, SEO services).

We often find that prior to our engagement, companies focus prematurely on customer acquisition, marketing spend, prior to their product and distribution platform(s) being positioned for optimal conversion and transactional opportunities; we’ve termed this ‘money going through the bottom of the wastebasket’. While there are no guarantees in marketing spend, we’ve found our most successful ad cost ratios result in prioritizing user acquisition as our primary strategic focus within the performance management service.

UX {User Experience}

us·er·ex·pe·ri·ence

noun

UX is the overall experience of a person using a product such as a website or computer application, especially in terms of how easy or pleasing it is to use. Additionally, it includes a person’s perceptions of system or interface aspects such as utility, ease of use and efficiency. UX is dynamic as it’s constantly modified over time due to changing usage circumstances, and in the world of eCommerce and digital platforms this includes the sophistication and evolution of features, functionality, as well as, the wider context in which they can be found (i.e. the advancements of digital technologies).

Our philosophy towards UX is that the #1 reason people purchase online and why the first few weeks of December define eCommerce’s initial success, is convenience. While we appreciate ‘innovation’, we find that veering too far left of center on things such as navigation, checkout, shopping cart utility often counters wide usage browsing and purchasing preferences. From a practice perspective as a digital agency, in order to keep our build budgets as low as possible, we construct detailed wireframes that reduce rounds of design tied to layout and copy editing, instead allowing graphic designers to focus on what they do best…graphic presentation, and this is the premise of our UX design service offering.

VC’s {Venture Capitalists}

VC’s present money provided by investors to startup firms and small businesses with perceived long-term growth potential. This is a very important source of funding for startups that do not have access to capital markets.

The typical venture capital investment occurs after the seed funding round, as the first round of financial planning institutional capital to fund growth (also referred to as Series A round) in the interest of generating a return through an eventual realization event, such as an IPO or trade sale of the company, venture capital is a type of private equity.

Every year there are nearly 2 million businesses created in the USA, and 600 – 800 (.0003%) get venture capital funding. According to the National Venture Capital Association, 11% of private sector jobs come from venture-backed companies and venture backed revenue accounts for 21% of US GDP.

In the past 5 years, we’ve helped top VC firms see what others don’t, by a combination of vetting and introducing them to early stage businesses.

Weeks On Hand

WOH is another way of saying number of weeks (or days) of inventory on hand, a ratio that measures the average # of weeks an item is held within an inventory. Since inventory cost represents the opportunity cost of funds, this ratio indicates how well inventory is being managed, and is one of the elements in determining the operating cycle of a company.

Within the P&L, inventory is one of the biggest costs and usually largest asset or liability (on a product/retail company’s) Balance Sheet. Given neta’s CAGR and net income focused approach, it’s paramount that inventories be managed efficiently to yield the highest margins possible. Based on this fiscal discipline, we apply these performance management practices to those companies that have gained traction in the market, requiring focus, stability and prioritization, a rigorous review of inventory management required as part of the strategic growth plan to ensure accounting practices, inventory turnover and forecasting are ‘sharp’ in order to afford the highest gross profit margins.