My brother introduced me to woot.com I love the model:
1 - Only 1 product each day, posted at same time of day even if it sells out
2 - Transparency in number of products left
3 - 'Crowdsourcing' Q&A for understanding of the product
4 - "Woot offs" and the "Bag of Crap" (BOC) mystery items in limited supply launched at random times
5 - Random truckloads of product delivered to homes during BOC
6 - Source of additional deals from both advertisers and community
7 - Data visualization of geographies activating against a particular deal
All of these features are perfectly geard to drive traffic and action. The 'reward' schedule of BOC and truckload is the best for motivating action acoording to behavioral psychology theory. The daily deal and community driven deal posts drive daily/hourly engagement as a community. interesting to see other communities have sprung up to share experiences of BOC. Lastly, the frequency and focus is rich in data for how Woot featured offers are valued/percieved by their customers.
Really fun & interesting site!
Thursday, September 23, 2010
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