Mr. Kirk Bowman and His Zipline
Mr. Kirk Bowman ,a successful attorney and entrepreneur,made a presentation to share his experiences and offer advice on succeeding as an entrepreneur in the global market. In the presentation, Mr. Bowman first share his philosophy of life , about what ,how ,why and the things good at ,like ,make money ,mentioned Simon Sinek with his book “how great leaders inspire action” ,GUY KAWASAKI and his book ”The Art of Changing Hearts ,Minds ,and Actions”, a nonprofit devoted to Ideas Worth Spreading named TED. Second, Mr.
Bowman made his own positioning in small service business; he is good at the establishing of company, other than developing it . Thus it is a good way to sell the company with a good prospect when established. Mr. Bowman did four companies before, among which three companies are successful. Now, Mr. Bowman is focus on his fifth company, an online community named Zipline, providing free remittance services. Mr. Bowman set the goal of Zipline as amass users , nothing else ,all the marketing strategies are focus on this.
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He choose free as the core value of Zipline , so as its pricing, because free is undefeatable. Mr. Bowman indicated that the idea “free means not profitable” is a misconception, free is a relatively new phenomenon now. Facebook, amazon, Google and some TV &Radios use free to amass users, make their money from the advertising fee. And next , Mr. Bowman make a series of investigate of the market and use a lot of marketing strategy ,see that , there is a lot of online community providing free remittance services in the world , the characteristics of which is simple ,social ,trust and free, without connection .
And the online community such as Facebook and twitter ,the most important characteristics make them success is the connection between people. In order to extensively amass users, Zipline planned Merchant choice, payroll, insurance, loan service, currency, goods exchange as its services. With the marketing research, Mr. Bowman define the value position of Zipline is an online community, providing free remittance services. Also with the service Merchant choice, payroll, insurance, loan service, currency and goods exchange.
And the competitors like financial companies and car loans , they also do not have the function of connection . Zipline use Web application and banking relationship as the marketing channel. As the characteristics of Social network are simple, social, trust, free; Mr. Bowman set the fundamental characteristics of Zipline as simple, social, trust, free, social, connection and payment. Zipline now exists in the first and second stage of PLC, the introduction stage and the growth stage .
And the primarily users of Zipline now is the opinion leader. Mr. Bowman make the Marketing objectives : transaction reach $500 thousand in 6 months , $40-50million in 5 years ,$ 1billion in the future; users reach 15million in the future. I find two things especially useful in the presentation. One is free, a hot phenomenon now, although the pricing is free, seems not profitable, but as long as we can achieve other objectives such as amassing users, the product can gain money from other respect, such as the advertising fee.
There is a successful online-website named Taobao ,the value positioning of Taobao is a free ,safety, and home feeling online shopping website. Both the retailers and the buyer can join in the website with free. The profit source is from the money people deposit in the tool named Zhifubao in Taobao. With the free pricing strategy, Taobao make a great success rapidly ,and now Taobao is the biggest online-shopping in Asia-pacific region. The second thing I find useful is the value positioning.
In china, people used to establish company with almost the same characteristics, and make a lot of difficulties in the next, such as the same product, they have to reduce the price continuously in order to compete with other companies, which make a great harm to not only the company but also the product. Through the market research, Mr. Bowman adds a few characteristics such as connection to make Zipline to achieve a unique value positioning. Just the little difference may make