WorthPoint Feature/Function Poll Results

Background

Thank you to all members of the WorthPoint community who participated in our recent survey. As promised, here is a summary of our findings. The purpose of the Poll was to obtain user reaction to various new features and products. The sample base is 120 completed surveys from respondents who are both paid subscribers and community members. The basic structure of the survey was a rating scale on each new feature from 1 to 5 with 5 being the most appealing.

Items with Strongest Appeal

Makers Marks (library of distinguishing marks) is clearly the lead feature at 74% top box (5 rating).

Item Background/History (information that would complement Worthopedia price data) weighed in 2nd with 61% top box.

Image Search (which would allow users to post an image for the purpose of identifying what they have) came in third with 58%. Together, these three clearly represent a great added value for users.

Moderate Appeal Items

These include the eReference Library at 50% top box; Analytics at 48%; and WorthPoint Shopping Assistant (WSA) at 34%. The WSA score in our view is not truly indicative since the feature is primarily for “shoppers” and not subscribers who want access to price data. The value perception of Analytics is somewhat surprising but probably indicates that potential users need more information on how these tools could benefit them. The eReference Library response may suggest that people are interested in specific topics at particular times, so a general concept description does not provoke a strong response.

In addition, the iOS (iPhone) application, Vault concept and Auction Alerts were modestly rated and may require some adjustment in design or marketing before we take them further.

Open Ends

Some of the more interesting suggestions included:

  • Item authentication

  • Recent search history and ability to add keyword to previous searches

  • Reference service and ratings for companies dealing in antiques/art/collectibles

  • Price range search filter (already in the works)

  • Fraud/theft/forgery alerts

Respondent Profile

  • Hobbyists 8%

  • Casual Collectors 15%

  • Active Collectors (sideline business) 50%

  • Professionals 27%

  • US respondents were 93% of sample

How You Transact

  • Online 74%

  • Store 37%

How You Promote

  • Online Ads 39%

  • Word of Mouth 46%

  • Shows 26%