social commerce: trading real world currency for virtual currency
DESCRIPTION
Monetizing Social MediaTRANSCRIPT
SOCIAL COMMERCE: Real World Currency Spent Acquiring Virtual Currency
CONTACTS[1] [email protected] +1(888)559-1159 ext 3[2] [email protected] +1(888)559 1159 ext 4
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Digital Explosion2
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Top Internet Markets
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(Source: Morgan Stanly Research 2010)
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• Digital can be anything – it’s a blank slate made up of people and time– it’s an easily reconfigurable approximation of real life
(because it is real life)• Congregational spaces are big with young mothers
(20-34)– Online music, video communities– These ‘hang spaces’ can offset costs by selling ad space
• (ex. viva-radio.com for American Apparel)• Bring real world excitement to the web (Baja race)• Bring online social experiences to the real world
(Driving by remote control)
Digital thinking
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• Twitter now has 200m users generating 65m tweets per day.
• Linkedin has over 150m members worldwide.
• Facebook has in excess of 800 million active users on global basis.
• Flickr now hosts more than 4bn images.
• Wikipedia currently has in excess of 20m articles.
Some Stats
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• Life is online– Canadians spend over 63 hours online per week!
• 30@Home, 23@Work, and 10 On the go
• Control free digital artifacts are king
• IRL – geo aware mobile and social will blur the line between online and ‘In Real Life’
• Scalable micro targeting
• Mobile will soon be bigger than desk/home computers
Thoughts
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287% CTR for links shared on Facebook– For each share, ~3 new people visit
• If more than 1 in 2.87 share again, it goes viral
1904% CTR for links shared on Twitter– For each share, ~20 new people
visit!• If more than 1 in 19 share again, it goes viral
Some viral numbers
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Breakdown of viral CTR origin. 60% of inbound links in large test group came from social – 91% from email and social combined.
–socialtwist Aug 10’
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Because people are the medium of your message, success in digital is very sensitive to good execution –
More numbers… (in chart form)
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• Online commerce power house.
• The idea is not new but giving it legs through things like apps and the ability to share deals with friends makes the whole sector spread faster.
• Expect this to continue in a big way over the next couple of years with copy cat services and the big players rolling in to more territories and rolling out better and more extensive deals.
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• Aardvark was conceived as the first Social Search engine - a way to find people, not web pages, that have specific information. It collectivizes peoples’ knowledge and gets people to spread it through social media.
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• Facebook have been dipping their toes in to the credits system of micro payments over the last 6 months by giving users free credits to help them get used to the system as well as doing a massive deal with Zynga to add the credits to their games.
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• On WOW players can buy a ton of virtual gold for $10. ‘Sweat-shops’ in china solely employ people to build characters up to levels where they can be sold in the real world for excesses of $2000.
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ABOUT Ten Thousand Inc is an Internet Strategy and Implementation Boutique that views the internet as [1] an uber business-toolbox, [2] an innovative sales & marketing channel, and [3] a critical customer loyalty and advocacy engine.
SOME CLIENTS [1] British Airways [2] Expedia [3] Knightsbridge [4] Macquarie Bank
WHY [1] Staff have +10,000 hours of relevant Internet & Business experience ensuring bleeding-edge Internet solutions. [2] Solutions are highly measurable and are accompanied by transparent actionable analytics. [3] Higher returns on internet-spend are demanded by clients and delivered by TenThousand.
PRACTICES [1] Social Media: Monitoring, Influencing and Management. [2] Search: Prospect/Lead Generation, Qualification and Conversion. [3] Customer: Profitability Growth, Journeying, Loyalty, Advocacy. [4] Business: New Sales Channels, New Markets, New Online Businesses.
CONTACTS[1] [email protected] +1(888)559-1159 ext 3[2] [email protected] +1(888)559 1159 ext 4
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