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1 – 10 of over 3000
Article
Publication date: 11 March 2022

Meenakshi N.

Food ordering apps have registered phenomenal growth during the pandemic and will continue to register high growth in the years to come. This paper has three objectives: first, to…

1135

Abstract

Purpose

Food ordering apps have registered phenomenal growth during the pandemic and will continue to register high growth in the years to come. This paper has three objectives: first, to differentiate between the sales funnel of traditional vs platform businesses; second, to understand the sales funnel optimization strategies of a leading food ordering app in India; and third, to draw lessons from these strategies to enable food ordering apps in particular, and platform businesses in general to achieve the goals of customer acquisition and retention in a highly competitive market.

Design/methodology/approach

The study is based on interviews conducted with company officials of two leading food delivery platforms in India, and a rich qualitative analysis of secondary data sources including news reports, government policies, reports and statistics from global consultancy firms. The interviews were analyzed to understand various stages of the sales funnel for the food ordering apps and the strategies implemented by the companies based on their understanding of the customer journey.

Findings

The findings of the study reveal that the sales funnel of a food ordering platform can be divided into three stages – top of the funnel (ToFu), middle of the funnel (MoFu) and bottom of the funnel. In the ToFu stage, the goal of the food ordering app is to create awareness about their brand and induce app download, which results in customer acquisition. In the MoFu stage, the food ordering app initiates personalized promotion strategies to trigger maximum orders via the app. The customer is then targeted for retention and referrals. Customer app navigation and order data are the most crucial inputs for navigating the sales funnel effectively.

Research limitations/implications

First, app-based service firms, especially food ordering platforms, can understand how the digital sales funnel can be optimized to generate an appropriate customer mix. Second, they need to understand various interventions at different stages of the sales funnel to move the customer from the app download to loyalty. Third, the food ordering platforms and app-based service firms need to understand how to use customer data to design customer relationship management strategies that can convert retention into referral strategies to expand the funnel.

Practical implications

Incumbents in the intensely competitive food ordering industry need to understand the process of customer acquisition and retention. An understanding of the digital sales funnel can enable them to achieve the right mix of customers in their fold. Other companies that offer app-based services can also understand various stages of the digital sales funnel, and how customers can be moved from one stage to the next one by planning appropriate interventions using app data.

Originality/value

The research contributes by offering clear insights on how food delivery platforms in India acquire and retain customers through an understanding of the digital sales funnel. The paper also offers insights on the interventions that are adopted by such firms to move customers from one stage of the sales funnel to the next one. The paper clearly brings out the value of the 3Rs for a food ordering platform – revenue, retention and referral.

Article
Publication date: 2 May 2019

Mark Lokanan

This paper aims to analyze the processing of complaints against investment advisors and Member firms through the Investment Industry Regulatory Organization of Canada (IIROC…

Abstract

Purpose

This paper aims to analyze the processing of complaints against investment advisors and Member firms through the Investment Industry Regulatory Organization of Canada (IIROC) enforcement system between 2009 and 2016. The paper used the misconduct funnel to show the number of complaints that are “funneled in,” and how these complaints are subsequently “funneled out” and “funneled away” at the investigation and prosecution stages of IIROC enforcement system.

Design/methodology/approach

The paper uses data from IIROC enforcement annual reports from 2009 to 2016. A combination of descriptive statistics and correlation matrices was used to analyze the data.

Findings

The findings indicate that while IIROC “funneled in” more complaints, a significant proportion of complaints were “funneled out” of its enforcement system and funneled “away” from the criminal justice system. Fines imposed were often not collected from individual offenders. IIROC, it seems, is ineffective in handling the more serious and systematic industry problems.

Practical implications

It is hard not to see the findings from this study being used by the provincial securities commissions and the federal government to support the call for a national securities regulator in Canada.

Originality/value

This is the first study of its kind to systematically analyze the enforcement performance of IIROC.

Details

Journal of Financial Regulation and Compliance, vol. 27 no. 3
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 1 March 1974

Colin New

In all manufacturing operations the sequence, raw materials to components to products, is followed to some degree. Cross‐sectional component flow analysis (CSCFA), or more simply

Abstract

In all manufacturing operations the sequence, raw materials to components to products, is followed to some degree. Cross‐sectional component flow analysis (CSCFA), or more simply the production “funnel”, is a convenient method for describing in graphical terms the number of physically different items which occur at different levels of the manufacturing process. It provides a useful means of illustrating the nature of the overall operations system of a company and provides a “quick‐and‐dirty” first approach to getting the measure of this system and focusing attention on areas of likely improvement. The approach is particularly useful for those acting in a consulting capacity to manufacturing companies—either as external advisers or on an internal basis as members of a head office staff. Practising production managers should also find it quite a novel way of looking at their own systems which may well unearth many hidden features.

Details

Management Decision, vol. 12 no. 3
Type: Research Article
ISSN: 0025-1747

Article
Publication date: 15 July 2022

Hongming Gao, Hongwei Liu, Weizhen Lin and Chunfeng Chen

Purchase conversion prediction aims to improve user experience and convert visitors into real buyers to drive sales of firms; however, the total conversion rate is low, especially…

Abstract

Purpose

Purchase conversion prediction aims to improve user experience and convert visitors into real buyers to drive sales of firms; however, the total conversion rate is low, especially for e-retailers. To date, little is known about how e-retailers can scientifically detect users' intents within a purchase conversion funnel during their ongoing sessions and strategically optimize real-time marketing tactics corresponding to dynamic intent states. This study mainly aims to detect a real-time state of the conversion funnel based on graph theory, which refers to a five-class classification problem in the overt real-time choice decisions (RTCDs)—click, tag-to-wishlist, add-to-cart, remove-from-cart and purchase—during an ongoing session.

Design/methodology/approach

The authors propose a novel graph-theoretic framework to detect different states of the conversion funnel by identifying a user's unobserved mindset revealed from their navigation process graph, namely clickstream graph. First, the raw clickstream data are identified into individual sessions based on a 30-min time-out heuristic approach. Then, the authors convert each session into a sequence of temporal item-level clickstream graphs and conduct a temporal graph feature engineering according to the basic, single-, dyadic- and triadic-node and global characteristics. Furthermore, the synthetic minority oversampling technique is adopted to address with the problem of classifying imbalanced data. Finally, the authors train and test the proposed approach with several popular artificial intelligence algorithms.

Findings

The graph-theoretic approach validates that users' latent intent states within the conversion funnel can be interpreted as time-varying natures of their online graph footprints. In particular, the experimental results indicate that the graph-theoretic feature-oriented models achieve a substantial improvement of over 27% in line with the macro-average and micro-average area under the precision-recall curve, as compared to the conventional ones. In addition, the top five informative graph features for RTCDs are found to be Transitivity, Edge, Node, Degree and Reciprocity. In view of interpretability, the basic, single-, dyadic- and triadic-node and global characteristics of clickstream graphs have their specific advantages.

Practical implications

The findings suggest that the temporal graph-theoretic approach can form an efficient and powerful AI-based real-time intent detecting decision-support system. Different levels of graph features have their specific interpretability on RTCDs from the perspectives of consumer behavior and psychology, which provides a theoretical basis for the design of computer information systems and the optimization of the ongoing session intervention or recommendation in e-commerce.

Originality/value

To the best of the authors' knowledge, this is the first study to apply clickstream graphs and real-time decision choices in conversion prediction and detection. Most studies have only meditated on a binary classification problem, while this study applies a graph-theoretic approach in a five-class classification problem. In addition, this study constructs temporal item-level graphs to represent the original structure of clickstream session data based on graph theory. The time-varying characteristics of the proposed approach enhance the performance of purchase conversion detection during an ongoing session.

Details

Kybernetes, vol. 52 no. 11
Type: Research Article
ISSN: 0368-492X

Keywords

Book part
Publication date: 1 March 2023

Elena V. Isaenko, Elizaveta E. Tarasova, Vitalii A. Isaenko, Kseniya V. Tarasova and Evgenij G. Ershov

In the context of digitalisation, issues related to the promotion of cloud technologies are becoming of paramount importance, including SaaS products, the demand for which has…

Abstract

In the context of digitalisation, issues related to the promotion of cloud technologies are becoming of paramount importance, including SaaS products, the demand for which has increased significantly. In the promotion of products, an important role is played by the marketing information system (MIS) of the organisation, the effective functioning of which allows one to obtain the necessary information for making informed management decisions.

The chapter aims to develop methodological approaches to evaluating the effectiveness of promoting SaaS products using MIS.

The chapter analyses the demand for cloud services on a global scale and in Russia. The authors identified and systematised the features, advantages, disadvantages and competitive advantages of SaaS products for owners and users.

A methodical approach to evaluating the effectiveness of promoting SaaS products using MIS based on a developed system of indicators is proposed and tested, including indicators that characterise work with customers during the sales funnel, indicators that characterise customer loyalty and economic indicators that characterise the efficiency of the funnel sales in general.

The authors developed a system of indicators for evaluating the functioning of the organisation's MIS for promoting SaaS products, by types of marketing tools that are subsystems of the MIS. The proposed methodological approach allows substantiating the directions for increasing the efficiency of promoting SaaS products and the directions for improving the MIS.

Open Access
Article
Publication date: 27 September 2022

Harri Terho, Anna Salonen and Meri Yrjänen

The purpose of this study is to provide a contextualized understanding of how business-to-business (B2B) firms use the sales development function for efficient and effective lead…

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Abstract

Purpose

The purpose of this study is to provide a contextualized understanding of how business-to-business (B2B) firms use the sales development function for efficient and effective lead funnel management.

Design/methodology/approach

The authors adopted a qualitative field-study approach and interviewed 13 people from eight firms. While software as a service (SaaS) firms are the most prevalent application context for the sales development function, the authors also included respondents from non-SaaS firms to develop an in-depth understanding of the contextualized nature of the sales development process.

Findings

Sales development processes can be applied in outbound prospect-focused, outbound account-based, inbound prospect-focused and inbound account-based lead management contexts. The sales development processes of lead research, engagement and handover vary depending on the nature of the lead management context. These processes are supported by the appropriate design of organizational, technological and people platforms.

Practical implications

The authors explain how sales development as a form of inside sales can support effective lead funnel management in B2B firms through technology-enabled lead research and nurture processes designed to prepare customers for meaningful conversations with field sales.

Originality/value

To the best of the authors’ knowledge, this study is the first to focus purely on the sales development function as a form of inside sales. They explain how the sales development processes relating to lead research, engagement and handover are conducted in four distinct application contexts to qualify leads for the outside salesforce.

Article
Publication date: 9 March 2010

Roger Martin

The purpose of this paper is to explain how, in the future, the most successful business innovation efforts will balance analytical mastery and intuitive originality in a dynamic

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Abstract

Purpose

The purpose of this paper is to explain how, in the future, the most successful business innovation efforts will balance analytical mastery and intuitive originality in a dynamic interplay that the author calls “design thinking.””

Design/methodology/approach

As a useful way to think about how to do this the paper takes the reader step‐by‐step through the “knowledge funnel” concept.

Findings

Design thinking empowers the design of business, the directed movement of a business through the knowledge funnel – from mystery to heuristic to algorithm – and then the utilization of the resulting efficiency to tackle the next mystery and the next and the next.

Practical implications

The apaper suggests that the velocity of movement through the knowledge funnel, powered by design thinking, is the most powerful formula for competitive advantage in the twenty‐first century.

Originality/value

The paper has a radical thesis: to advance knowledge, we must turn away from our standard definitions of proof – and from the false certainty of the past – and instead stare into the mystery of what could be.

Details

Strategy & Leadership, vol. 38 no. 2
Type: Research Article
ISSN: 1087-8572

Keywords

Article
Publication date: 27 May 2021

Laurens De Gauquier, Malaika Brengman, Kim Willems, Hoang-Long Cao and Bram Vanderborght

The purpose of this paper is to empirically investigate the role of the placement (i.e. location) of humanoid service robots (HSRs) for entertainment applications in retailing by…

Abstract

Purpose

The purpose of this paper is to empirically investigate the role of the placement (i.e. location) of humanoid service robots (HSRs) for entertainment applications in retailing by inspecting a multitude of performance metrics along the point-of-sale conversion funnel.

Design/methodology/approach

The study was conducted using unobtrusive observations at a Belgian chocolate store. In total, 42 h of video observation material was collected and analyzed, with an even spread over three conditions: (1) an HSR placed outside, (2) an HSR inside the store and (3) a control condition (no robot stimuli). All passersby and their interactions with the robot and the store were systematically coded and compared.

Findings

The study found that the better placement of HSRs (inside or outside the store) is contingent on the goals the retailer prioritizes. When the goal is to create awareness and interest toward the store, the HSR should be placed outside, as it has double the stopping power. To induce consumers to enter the store, placement of the HSR inside the store is the better option. Ultimately, however, in terms of the number of transactions and total amount spent, outside placement of the HSR outperforms inside placement.

Research limitations/implications

This study was not able to verify the internal emotional/cognitive state of the passersby, as the method relied on unobtrusive camera observations. A longitudinal research design would be desirable to exclude potential bias due to the novelty effect.

Originality/value

While research on robots in retail services is emerging, this study is the first to provide insights on how retailers can decide on the placement of robots inside or outside the store, depending on the particular goals they are aiming to reach at the point of purchase.

Details

International Journal of Retail & Distribution Management, vol. 49 no. 7
Type: Research Article
ISSN: 0959-0552

Keywords

Book part
Publication date: 15 July 2019

Saba S. Colakoglu, Niclas Erhardt, Stephanie Pougnet-Rozan and Carlos Martin-Rios

Creativity and innovation have been buzzwords of managerial discourse over the last few decades as they contribute to the long-term survival and competitiveness of firms. Given…

Abstract

Creativity and innovation have been buzzwords of managerial discourse over the last few decades as they contribute to the long-term survival and competitiveness of firms. Given the non-linear, causally ambiguous, and intangible nature of all innovation-related phenomena, management scholars have been trying to uncover factors that contribute to creativity and innovation from multiple lenses ranging from organizational behavior at the micro-level to strategic management at the macro-level. Along with important and insightful developments in these research streams that evolved independently from one another, human resource management (HRM) research – especially from a strategic perspective – has only recently started to contribute to a better understanding of both creativity and innovation. The goal of this chapter is to review the contributions of strategic HRM research to an improved understanding of creativity at the individual-level and innovation at the firm-level. In organizing this review, the authors rely on the open innovation funnel as a metaphor to review research on both HRM practices and HRM systems that contribute to creativity and innovation. In the last section, the authors focus on more recent developments in HRM research that focus on ambidexterity – as a way for HRM to simultaneously facilitate exploration and exploitation. This chapter concludes with a discussion of future research directions.

Details

Research in Personnel and Human Resources Management
Type: Book
ISBN: 978-1-78973-852-0

Keywords

Open Access
Article
Publication date: 16 November 2023

Tao Wang, Shaoliang Wu, Hengqiong Jia, Zhao Wei, Haiyan Li, Piyan Shao, Shanqing Peng and Yi Shi

The construction of cement asphalt (CA) emulsified mortar can obviously disturb the slab status after the fine adjustment. To decrease or eliminate the influence of CA mortar…

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Abstract

Purpose

The construction of cement asphalt (CA) emulsified mortar can obviously disturb the slab status after the fine adjustment. To decrease or eliminate the influence of CA mortar grouting on track slab geometry status, the effects of grouting funnel, slab pressing method, mortar expansion ratio, seepage ratio and grouting area on China Railway Track System Type (CRTS I) track slab geometry status were discussed in this paper.

Design/methodology/approach

Combined with engineering practice, this paper studied the expansion law of filling layer mortar, the liquid level height of the filling funnel, the pressure plate device and the amount of exudation water and systematically analyzed the influence of filling layer mortar construction on the state of track slab. Relevant precautions and countermeasures were put forward.

Findings

The results showed that the track slab floating values of four corners were different with the CA mortar grouting and the track slab corner near CA mortar grouting hole had the maximum floating values. The anti-floating effect of “7” shaped slab pressing device was more efficient than fixed-joint angle iron, and the slab floating value could be further decreased by increasing the amount of “7” shaped slab pressing devices. After CA mortar grouting, the track slab floating pattern had a close correlation with the expansion rate and water seepage rate of CA mortar over time and the expansion and water seepage rate of the mortar were faster when the temperature was high. Furthermore, the use of strip CA mortar filling under the rail bearing platform on both sides could effectively reduce the float under the track slab, and it could also save mortar consumption and reduce costs.

Originality/value

This study plays an important role in controlling the floating values, CA mortar dosage and the building cost of projects by grouting CA mortar at two flanks of filling space. The research results have guiding significance for the design and construction of China's CRTS I, CRTS II and CRTS III track slab.

Details

Railway Sciences, vol. 2 no. 4
Type: Research Article
ISSN: 2755-0907

Keywords

1 – 10 of over 3000