11 Jan, 2011
automobiles buyers Canaan Partners Clearstone advisors eBay Epiphany Ventures motorexchange old cars qualified leads technology platform used vehicles
MotorExchange, an online marketplace for used vehicles, has raised a second round of funding to expand its workforce and increase direct to consumer services.
The year-old start-up has raised about $5 million in a round, led by early stage investor Epiphany Ventures with participation from existing investor Canaan Partners.
MotorExchange provides a technology platform for transacting used vehicles. It brings together qualified sellers and volume buyers of used vehicles, including banks, corporates, leasing companies and automotive dealerships.
MotorExchange is founded by Vinay Sanghi, former chief executive of Mahindra First Choice, the start-up also has Rajan Mehra, venture advisor at Clearstone Venture Advisors and former India head, e-Bay as a founder-director.
MotorExchange charges buyers a commission fee and provides the services to sellers for free. MotorExchange has seller service office in Mumbai and Chennai. It has raised Series-A funding from Canaan Partners in December 2009.
Second hand automobile market is approximately 10,000 Cr in size and very fragmented in spite the presence of players like TrueValue from Maruti-Suzuki, Mahindra First Choice etc. Motorexchange aims to become #1 player in the second hand automobile market. On the institutional front, MotorExchange competes with eBay India’s B2B Motors business, Autoexchange.in and eDiig.in are others in this space.
Motorexchange has earleir raised 1st round of investment from Canaan Partners in dec 2009.
-Hitesh, vcBytes.com
17 Dec, 2010
CPC daily advertising budget Google Adwords keywords Lead conversion online marketing campaign PPC qualified leads ROI search engine
Small and medium scale enterprises have enormous tools now to promote their product and services. Search engine keyword programs like Google AdWords and other pay-per-click (PPC) advertising campaigns have proven to be an exceptionally inexpensive method for generating web traffic, qualified leads, and online web-sale revenues.
Determining how much daily budget to set aside; knowing the right amount to spend per-click; and assessing ROI, can be much more difficult tasks
Key Considerations-
- Product Price – what is the online selling price for your product?
- Incurred Cost – Determine your cost for each unit of product sold.
- Lead Conversion % – what percentage of web visitors will purchase? if 100 clicks and lands up in your page how many would buy.
- Daily Advertising Budget – what is the maximum amount you are willing to spend daily? Its always advisable to have a discipline when dealing with Adwords.
- Cost Per Click – how much does it cost to purchase keywords/ad clicks?
- Daily Leads – how many leads (web visitors) will your budget provide?
- Revenue Per Month – how much incremental revenue will be generated?
Plan of Action -
- Understand PPC – Understand the nitty gritty of PPC program, how does it work.
- Select Keywords – you should create a list of keywords that are likely to be searched for by your target audience. Use Google’s Keyword Tool to generate a long list of related keywords and phrases, and view pay-per-click estimates.
- Determine Lead Conversion % - if you have transactional data already, identify how many visitors it takes to generate one new web-sale. If you do not have the data, make a conservative estimate such as 0.5% conversion.
- Assess ROI for Campaign – Determine what kind of revenue & ROI to expect based on your daily advertising budget. Reassess conversion rates after the first month.
-Hitesh, vcBytes.com
