A Presentation on

QUORA-There Are Somethings You Cant Google!!!

Social Media Marketing

Group-07

ALL OF US

Aparajita Mukherjee

Anupriya Sinha

Poonam Mohindra

Aravind Chandrasekar

Shakti Jakhar

Navendu Vimal

Saket Mohan Jha

Rajiv Ranjan Dutta

Ayush Sinha

Manish Agrawal

• Started by two former Facebook employees, Adam D'Angelo and Charlie Cheever.

• A question-and-answer website where questions are created, answered, edited and organized by its community of users.

• It aggregates questions and answers to topics. Users can collaborate by editing questions and suggesting edits to other users' answers.

• The difference is in the way Quora’s leverages community to improve quality.

QUORA-WHAT IS IT? HOW IT ALL BEGAN..

2009

• The company was founded in June.

2010

• Website was made available to the public on June 21.• By December, its user-base grew very fast.

2011

• It had an estimated 500,000 registered users, as of January.• Website was redesigned to make information discovery and navigation easier in June.• Released official iPhone app on September 29.

2012

• Released official Android app on September 5.

2013

• Launched a blogging platform in January.• extended the feature to mobile devices in late May.• On November 12, a feature called Stats was introduced which was like a dashboard for

writers.

QUORA- MILESTONES OVER TIME….

A WALK THROUGH THE WEBSITE..

• Start by setting up a Profile. Can use your Twitter or Facebook ID to login to Quora. This makes it easy for you to follow your Twitter and Facebook connections on Quora.

• Quora members collaborate to make things better. They can vote for the quality of certain answers, they can add their own answer or edit existing answers to suggest improvement or add additional context.

• The overwhelming amount of content can be a little bit intimidating at first. But once you start using Quora, it quickly becomes real easy to navigate. You can use the search box to ask specific questions, you can add your own questions and answers, but you can also ask questions to specific people.

SO, HOW DO WE START?

ANSWERING QUORA USING QUORA

INVESTORS IN QUORA

VALUATION & INVESTMENTS

• In March 2010, Quora received funding in the amount of $11 million from Benchmark Capital, valuing the start-up at $86 million. The privately held company possibly turned down an acquisition offer of $300 million, according to Business Insider.

• In May 2012, Quora raised $50 million in Series B funds, valuing the company at over $400 million, bringing their total funding to $61 million. Co-founder D'Angelo, who owns 0.8% of Facebook stock, also invested $20 million of his own money in the B round.

• In April 2014, Quora announced an $80 million Series C round of funding, valuing the company at over $900 million. The funding was led by Tiger Global Management. D'Angelo also said the site would likely introduce its first ads in 2015.

STAKEHOLDERS

• Obviously People who get their Questions answered, The users who reply to Questions and interestingly Corporates.

• How So?– It is a place to engage with your customers by providing helpful and

impartial advice (not just confined to your products).– It is also a way to gather insights about what you customer are asking and

thinking– It allows you to see what answers your competitors are providing to

customer questions

“If you believe that markets are conversations, then Quora could become the go-to coffee shop where all your most valuable customers will be chatting away”.

COMPETITORS-THEIR PRODUCTS

Quora probably has to think about:

1. Yahoo! Answers: lots of content

2. WikiAnswers: good SEO

3. StackExchange / StackOverflow: quality content

4. Facebook Questions: huge user base

Others in the Q&A space:-

1. Ask MetaFilter: membership-based ($), but less liberal rules

2. Mahalo Answers: bounty-based ($) incentive system

3. Fluther: similar to Quora (social, topics), but not much traction or quality

4. LinkedIn Answers: Q&A oriented around professionals

And there have been many in the Q&A space who may once have been viable competitors, but have fallen to the wayside:

1. Answerbag: voluminous Q&A, dying off

2. Google Answers: people researching with Google search for answers

3. Experts Exchange: early Q&A website

REACH

Adopted by tech sector/businesses to share knowledge.

Popular in Tech , Science & SocMed

Helps build a presence- bloggers love it!

Useful for Insights, Trends, Reviews and Research.

Mining ideas, find talent, networking and link building

Not competitors, though sometimes referred to as such

1. Aardvark

2. Knol

3. ChaCha

4. Formspring

Other products in the general domain of answering people's queries:

5. Google search

6. Wikipedia

7. mailing lists / forums

8. Answers.com

COMPETITORS-THEIR PRODUCTS

HOW QUORA HELPED PEOPLE?

• Naval Ravikant, Founder, CEO, and chairman at online marketplace Vast.com : A perfect place for Finding new ideas : says that one can find the maximum unanswered questions and write a blog for it. Hence it becomes a meat for your blog posts.

• Tyler James, co-Founder, Conversated Media: Open lines for communication: "It is great place to find technical rock star.”

• Vlad Ivanovic, head of Innovation at Blue Barracuda London: constant communication improvement platform: says “In Quora constant evaluation of "what works and why" makes me a better communicator.”

• Tristan Louis, CEO of Keepskor and writer at TNL.net: Service Promotion: says “Try and give the best answers so that people notice you and begin using your services”.

• Faisal Khan, Banking & Payments Consultant: All purpose platform: says ”Quora is my Resume, Billboard, Reference, Score Card, Credentials and Office.

HOW QUORA HELPED COMPANIES?

• BankSimple (Simple company): As the names says the company makes the banking simple for its consumers and use Quora to interact and solve customer issues as well as providing them the information they need for the banks.

• AngelList (angel.co): is a community of high-quality start-ups raising money and investors who invest in them.: They have used Quora to market themselves very well. They are even keen to replace their company homepage with the Quora Thread.

• Google: Google’s Quora integration is also quite advanced. Unlike Bing, Google simply might grab from Quora what they feel is the single best answer, based on its algorithm for any questions you might ask.

• Bing: Bing is using Quora as a platform to pose legitimate answers to search queries to help provide a well-rounded search result for the user.

• SEO.com: Quora is great for content marketing ideas.

BENEFIT SEGMENTATION• Resume• Billboard• Reference• Scorecard• Credentials• Office

What is in it for Individuals

• Private Network System• Effective Collaboration• Community Voting

What is in it for the

Corporates

• No revenue generated as of now, $150 million raised through VC.

• Focus on productizing the Q&A services.• Creating a loyal customer base, before creating a business model.

What is in it for Community

What is in it for Quora

• Better SEO tool.• Networking• Involvement results in higher ranking• Content Research• Business Research

FUTURE OF QUORA

• Targeted advertising will be part of the revenue model, Quora’s Management has confirmed on this after the latest $80 million VC funding.

• Quora working on multilingual websites and better SEO to enhance experience.

• Users wants Quora to venture into hiring people and company feedback website on the lines of mouthshut.com

• Other models that Quora can look into as a part of its revenue model:

Business Model Description

Freemium Model Sell some part of the product free and charge for remaining.

Limited Period Promotion

Trial for limited days.

Sponsorship Model

Funded by corporates who are benefited

Usage Charge Model

Pay as per usage(no. of Q&A)

THANK YOU