"Challenge someone that's a [Amazon] Prime member to shop and then challenge someone to start on Google. It won't even be close. The Amazon experience is far superior to the Google experience."--Bill Gurley, Benchmark
A Fireside Chat with Bill Gurley of Benchmark: The Future of Ecommerce — September 15, 2015
On September 15, 2015, in San Francisco, Sailthru hosted a fireside chat with Bill Gurley of Benchmark, one of the world's smartest tech investors, moderated by Emily Chang, correspondent and tech journalist of Bloomberg West. With investments in next generation technologies including Uber, OpenTable, Zillow, GrubHub, and Sailthru, Bill understands market opportunities, and can easily pinpoint how businesses can transform the status quo. In this chat, Bill examines the future of ecommerce and provides his perspective on the future of the unicorn market, how "funnel reversal" is impacting marketer's focus on Google, and why retention is critical to profitability over acquisition's hold on growth.
Some of what Bill Gurley has to say--
"Amazon has built up this logistics framework and their one click feature and their Prime program to the point where the consumer has zero anxiety about the quality of the product, immense trust about the deliverability, down to a day and a half for most people, less than a day for some items. They trust on price. That doesn't mean they are the absolute lowest price, but people don't think Amazon's trying to get em. So, now, for many of the people I know, they don't disclose Prime numbers, but someone was out saying, I think it may be 90 million? You start your searches with Amazon with Prime checked. And then the second thing you do if that doesn't work is you uncheck Prime. And then if that doesn't work, you go to Google. This is what I call a 'reversal of funnel', Google has gone from being the starting point to the search of last resort and that's pretty powerful. As companies can improve the bottom of the funnel that it's so much better, you go around Google. As people go around Google, it loses out on a highly lucrative part of search, which is e-commerce." (emphasis added)
Benchmark is a venture capital firm founded May 1, 1995.
- Domain Name: benchmark.com
- Offices in San Francisco and Woodside, California
- More information on Benchmark
- More info on Benchmark's portfolio of companies: @benchmark »
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