Almost a decade ago, Rich Aberman, the co-founder of WePay was being chased by the security at the Paypal developer conference where he was found wheeling around a 600-pound block of ice with hundreds of dollars locked beneath the surface. Before noon, the news was making headlines on TechCrunch, one of the leading technology news websites.
How did a marketing stunt involving a block of ice change the fate of a company like WePay that was competing with a payment giant like Paypal?
Figures, Paypal had been having an issue in the past with freezing a couple of customer accounts. WePay cashed in on this negative publicity, by symbolically erecting an ice cube that said ‘Paypal freezes your account, unfreeze your money by switching to WePay’. This small stunt spiked WePay’s website traffic by 300% and signups by 225%. Their landing page saw 3x higher conversions just that day, taking a chunk of disgruntled Paypal customers along with it.
It’s only a matter of minutes before an ice cube melts your daily sales. How can you be prepared for leaky or faulty systems that give your competition scope to enter and capture your market? In this Compass, let's look at how you can make your existing systems more efficient to avoid such mayhems.