“Making decisions for an average user today is not an easy job right from searching online to asking close friends, etc. The process is not only time consuming but also leads to a load of information to absorb. We wanted to automate the process and today we have Decidequick (DQ) that helps you make informed decisions faster through social media, by gaining from the experiences of others,” said the serial entrepreneur Shameer Thaha, CEO and co-founder of Decidequick while sharing the need for his latest startup.
Early days of DecideQuick
The startup reviewed recently by us runs from Trivandrum and along with Shameer, the startup is backed by two other co-founders – Karthik Sundarajoo and Jayasooryan KV. While sharing the initial journey about DQ, Shameer informed me that DQ was released in November, 2011 and it is his third startup. Along with DQ, he is also associated with CGWerks (a Singapore headquartered firm that is providing marketing solutions to brands) and ThoughtBuzz (A social media monitoring product).
Today DQ is a team of seven people who are a bunch of designers, growth hackers, etc. With time, DQ started growing and got noticed by the Next Big Idea accelerator who have been supporting the startup since the end of 2011.
One of the core features of the product is the real time analysis which has been improved upon. Shameer shared that when they started real time analysis was taking close to twenty minutes but today it takes less than 50 seconds. The startup has indeed come a long way within a year and a half.
Features and the road ahead
Discussing on the enhancements, Shameer expressed there is a lot to be done. He added,
“We are not satisfied with the design and we are working on a new launch. Beside this we are trying to get one layer deeper to the social layer and trying to perfect the profile matching for your tribe or a group of like-minded friends. So that we can find what is your tribe saying about your query and assist you better.”
One of the USP of DQ is the proprietary score that it shares for a decision that has been made by the user. Today DQ is not only drilling social conversations in various networks but they are considering trusted sources such as popular blogs for the results. Going further DQ intends to works on trends and purchase behavior and also help product discovery.
In fact the startup is already working on a new feature that would give an option to buy the product for which the user is looking for help on DQ.
“We understand that the purchase intention is higher on our platform. We are already testing the feature with affiliate networks to provide an option for buying.”
DQ also has another useful feature called CrowdHelp which looks like a question and answer platform. Shameer informed me that the feature was very much required for questions that can’t be addressed.
“Users ask about products that are yet not in the market. So we thought of creating a discussion platform that would have responses from the community. In a way we are trying to embed the power of social crowd on DQ.”
User behavior on DecideQuick and challenges
With such great features and a clear road map, my next question was about the acceptance of the product by users. Shameer shared some facts that looked quite promising:
1. 20,000 odd decisions made on the platform.
2. 2500 active users twice a week that either make decisions or contribute on the platform.
3. DQ receives 300 queries per day.
4. 80% of users are Indian but DQ has been getting traction from international countries.
5. And 70% of inquired decisions are around consumer electronics followed by travel and entertainment.
Going further as DQ gains traction, Shameer has plans to use the collected data for tapping insights. This would be done for providing better and intelligent results to the user on the platform.
I have a feeling that at some point of time the data would be one of the sources for revenue. Although, DQ is a promising startup right now, it still faces a major challenge from global networks like Twitter and Facebook, which are mostly used for help related to any decision-making process.
Nonetheless, Shameer thinks that both Facebook and Twitter are still not the one point solution for decision-making. So will you ask DecideQuick next time if you are stuck in making a decision?