Socialgo Share Discussion Threads

[dodge city] 18/6/2013 08:31

The company has just issued more shares.

This explains the sustained ramping by the_analyst over the past few days.

The guy seems to be an insider and is a ramping scumbag - be warned, it looks like he is on the payroll.

[flopinfo] 17/6/2013 16:18

he's a prize idiot

got no idea about anything

witless individual

[the analyst] 17/6/2013 11:37

The flow-chart illustrates how they have consistently managed to attract people to create sites using SocialGO at a rate of around 100,000 per year.

Unfortunately, their ability to convert those hundreds of thousands of people into long-term paying customers has been, to put it mildly, poor.

I'm estimating that the conversion rate stands at around 0.5%, whereas they would have been hoping to have been pushing up towards 5%, especially when they launched V2.

Overall, it shows very clearly how they have failed, but also, how they still have opportunity. Even if they only managed to attract 10 additional long-term paying customers per day it would have a huge impact on revenues.

I have no idea if they can achieve that, but if they did, they could reach break-even by the end of 2013 (based on the last KPIs we were given on average monthly revenues per paying customer)

So, I'm not yet convinced, but there is still plenty of opportunity to make a success of the business.

At least they have made a step in the right direction with this latest update.

[wealthtransfer] 17/6/2013 10:41

TA- all good common sense, but I am not confident it will be done. The reasons are demonstrated in history and the current facelift.

Little things such as checking your new website works properly. That links resolve to the intended pages. That pages and menus can be accessed by current hardware/platforms. By not changing pricing within hours of putting the site online.

These simple things have not been thoroughly done and therefore I'm not convinced that the on boarding has been thoroughly considered and done. Which was a failing of V2.

The website is much better though.

[flopinfo] 17/6/2013 09:11

Heading for another 50% drop here then ?

[parsons] 17/6/2013 08:09

the analyst I hope someone from the company looks in here you have some very good ideas !!

[flopinfo] 17/6/2013 00:46

Is this going the same way as other Lenigas vehicles?

Massive discounted placings ?

[the analyst] 16/6/2013 23:25

Having done quite a bit of hard work in creating the new look SocialGO, I'd say the crucial thing now is that they do some research with real people to make sure that they are indeed getting the message across in explaining the products.

I would test the new site on around 20 people - regular people that want to build a website or social network, but have never heard of SocialGO.

First of all, before even letting them look at SocialGO, I would ask them (independently), what they think a 'Social Website' is, what it means to them.

The term 'Social Website' is used a lot by SocialGO, but I'm not sure that its a common term used by real people in the real world. So, it would be useful to see if people understand their terminology from the start.

Next, I would get them to look over SocialGO (again, independently, not in a group) and after around 10 minutes, ask them to explain what they think the difference is between the two products. I would ask them to tell me what sort of customer each of the versions would be best suited to, and to explain exactly why that would be.

The company could describe case-study example customers (hypothetical customers) to the testers, who in turn would be asked to tell the research team which product would be best for each of those particular customers, and then explain why.

If the market-testers really 'get' the two individual products, then these sorts of questions will be answered very easily. If not, then the company will know very quickly that they have to refine the experience and test again until they get it right.

I really, really, hope they are doing this sort of thing. I know it all sounds incredibly obvious, but you would be amazed how many companies fail to test their products properly on real people, relying on presumptions or guess-work.

Much better to iron out any potential problems from the start, than wait for months for the metrics to come in before tackling them...

[the analyst] 16/6/2013 11:50

Managed to take a quick look at the new re-design.

I agree with WT - it does look much cleaner, more up-to-date, easier to navigate and I hope (although I am not yet 100% convinced, having only just looked at it) that they have made it much easier for people to choose a product.

Good to see the improvement.

I'm not sure, but I am presuming that the product itself remains the same as before and that one of the offerings (classic) is SocialGO V1, whilst the other (pro) is V2?

If that is the case, then I see this as a relatively minor update (compared to a new product, or updated product launch), but it is still a very welcome improvement. It shows that the company is still working, still developing, still looking to make a go of the product and to create value for investors.

Hopefully, this update encourages a greater proportion of their visitors to sign-up and trial the product.

It is worth noting that SocialGO still attract many thousands of visitors to their site every month. So, if they do finally manage to achieve a decent conversion rate, it would result in a massive increase in the KPIs. In turn, that would make SocialGO a much better proposition to sell to investors in the future...

[norbus] 14/6/2013 08:12

WT
Madness if they stunt the growth of this potential pearl . Upside to downside ratio truly compelling @ minimum 33:1, with probability of success @ even money

[wealthtransfer] 13/6/2013 18:13

N - you may be a bit early to think they will come good. At 90-95% down, they are far from good. But I'm with you in the hope they can

[norbus] 13/6/2013 16:31

WT

I trust you enough to go fishing :-)
TA maybe too busy walking the beaches of Welsh Wales to comment. I almost always believed this would come good, else Lord Astor would have been out of here. You also have to give Dominic full credit for tenacity. Alex Halliday seems to have moved yet again to another Start up.. These boys were all mouth. Salesmen with glib chatter not technical whizz kids or even expert.

[wealthtransfer] 13/6/2013 13:29

I'm surprised at the lack of interest on here and elsewhere. The new website demonstrates that management have finally understood and conveyed clearly where the products sit and positioned them with clarity, a first for SocialGo in the 2 years or so I've been following them.

I understand the caution that investors and potential investors feel with the failures of the past and they have much to prove, but this media update gives me some encouragement that with further similar efforts with the functionality and marketing, they are clearly on a better track than those taken before.

[norbus] 13/6/2013 08:42

TA

Please reconfirm WT finding and I will reset my limit

[norbus] 13/6/2013 08:04

Really pleased to hear it WT

I know how thorough you are , so that's praise indeed. I still can't add on my terms

Hope you do well
ITM scaled highest summit in its world, tired but intact.
California sale $1.3m yesterday, and the three big'uns due dil

[wealthtransfer] 12/6/2013 18:01

Checkout the complete revamp of socialgo.com

Its much better (logically) structured and brought up to date.

Im very pleased with the new look, it is much easier to understand and choose the product that best suits.

If the marketing can be improved inline as well, then there is definitely life in SocialGo.

[jonc] 10/6/2013 21:41

There was a program on Dragons Den a few months ago which featured the idea of eat with a local.

The idea was panned but I registered with the website that turned out to be socialgo.

What a POS it is. I don't think I have come across a website so dire since about 1997.

Is this representative of what they do or is this a particularly poor example?

No wonder this Company is doomed.

[orange1] 10/6/2013 11:06

From today's UKHotViews (www.techmarketview.com):

Where to start with SocialGo?

In keeping with its fine tradition of prompt reporting, AIM-listed, social media SaaS pure-play, SocialGO, announced its results for the year to 31st Dec. 2012 last Friday. It's hard to know where to start. We could perhaps begin with the 23% headline revenue decline to £562k (yes, that's '000s). Or perhaps the £1.5m net loss (yes, that's millions). Or maybe we should start with the suspension of payments under the 'distribution agreement' with Catalis SE (see SocialGO warns - and gets social with Catalis). Or perhaps the ensuing 12% drop in share price to 0.27p (yes, that's pence). Or maybe we should just give up and write the next UKHotViews post.