“With more than 200 million users around the globe, Spotify is already one of the world’s most-used apps, but we see an opportunity apart from where we sit today. An opportunity that will allow us to reach beyond music to engage users in entirely new ways,” wrote Daniel Ek, Spotify’s CEO and cofounder, back in February. “To really understand, take the current value of the video industry. Consumers spend roughly the same amount of time on video as they do on audio. Video is about a trillion dollar market. And the music and radio industry is worth around a hundred billion dollars. I always come back to the same question: Are our eyes really worth 10 times more than our ears?” advertisement advertisement Ek went on to announce his intent to redefine Spotify from being about music to focusing on audio, and he announced two acquisitions: Gimlet Media and Anchor. Gimlet, which has been a media darling since it launched with a podcast about … [Read more...] about Anchor is Spotify’s best bet to beat Apple for control of your ears
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In today’s experience economy, there’s a gap between the experience businesses believe they deliver, and what’s really happening. This is called the “Experience Gap.” Experience gaps are everywhere in business. This is why experience management solutions are so important to businesses––you can provide the best possible experience for your customers based on their feelings. After all, who knows what customers really want more than the customers themselves? That’s why Fast Company is partnering with SAP as we update our website for the first time since 2015. advertisement As Fast Company is the only magazine dedicated to the beat of innovation—particularly as it relates to the converging worlds of technology, creativity, design, and impact—it makes perfect sense to join forces with the industry leader in experience management. This will enable us to better understand our readers and deliver more engaging personalized … [Read more...] about Inside Fast Company’s online redesign—and why we need your help!
Ahead of its September IPO, in 2019 indoor cycling behemoth Peloton moved beyond the bike. Founded in 2012 by tech exec John Foley (who previously ran Barnes & Noble’s e-commerce business), Peloton expanded its offerings to sell treadmills as well as yoga, strength training, and meditation classes taught by superstar instructors that can be streamed on a phone or laptop in the comfort of your home. So who better to offer advice on what to gift the fitness buff in your life than Peloton employees? Here are their top picks of presents this season. advertisement advertisement NoBull High-Top Trainer (pictured above)trainers are super functional. They keep me very stable in my powerlifting workouts, the material is comfortable, and they just look great—even when I wear them outside of the gym.” —Akshay Kashyap, senior machine learning engineer ($139) Hyperice Hypervolt massage gun is a great recovery tool for sore muscles. It’s an ideal gift … [Read more...] about The best gifts for fitness buffs, according to Peloton employees
Restraint is seldom a marketer’s first instinct. When you see a potential customer who could be surprised or delighted, it’s your instinct to do whatever it takes to make it happen. But in evaluating customer-satisfaction metrics, a little perspective—and restraint—is beneficial. advertisement Customer satisfaction is inextricably tied to perceived value, which means that achieving perfect customer satisfaction is impossible. It would require offering a perfect product, supported by a perfect buying experience, for free. Even if your product is a hit, “perfect and free” is probably not your business model. Therefore, real-world customer satisfaction becomes a balancing act: You’re trying to maximize the value you get from your customers while also delivering enough value so that they’re satisfied with the exchange, stick around and, ideally, tell others about it. Here are four principles to consider when putting … [Read more...] about How to better understand—and get the most of—your company’s customer-satisfaction scores
Gold loan lender Muthoot Finance has acquired a stake in IDBI Bank's mutual fund unit: IDBI Asset Management.IDBI Bank confirmed the development in a clarification to a reply sought by the National Stock Exchange.The clarification did not specify the stake bought by Muthoot Finance.Close On November 8, the company said the board approved sale of its entire stake in IDBI Asset Management. related news Muthoot Finance share price rallies 8% on stellar Q2 results IDBI Bank Q2 loss narrows to Rs 3,458.8 cr; board approves entire stake sale in AMC, MF Trustee Muthoot Finance board approves $450 mn fund-raise As on March 31, IDBI Bank’s stake in IDBI Asset Management stood at 66.67 percent, while IDBI Capital Markets & Securities owns 33.33 percent, as per a Mint report.IDBI Asset Management managed 22 schemes during FY19, most of which were equity fund schemes.IDBI Bank's net loss in the July-September quarter narrowed to Rs 3,459 crore from Rs 3,602 … [Read more...] about Muthoot Finance acquires stake in IDBI Bank’s MF business