Social Commerce: From Attention To Transaction

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This presentation was delivered by John Price at AIMIA's event, The Virtual Storefront: Evolving Social Commerce Platforms

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Social Commerce: From Attention To Transaction

  1. 1. Social commerce: from attention to transaction For the tweeters: ME: @priceyjohndoe US: @communityengine Backchannel: #aimiascThursday, 24 May 2012
  2. 2. The village economy There are 10x as many conversations at the farmers market as at the supermarket. ~ Brian Halweil, 2004Thursday, 24 May 2012
  3. 3. The social graph We join and participate in social networks Family Friends of Friends in order to form identity, personal (overseas, interstate) relationships and a sense of community. Relevance in the social graph is ME determined by personal relationships Friends from home and not my communities of interest. Work colleagues (Interstate) “Randoms”Thursday, 24 May 2012
  4. 4. The social graph + ‘your interests’ Places Family (overseas, interstate) Friends of Friends The ‘personal space’ created Big brands Small Business by social media has been filled with non-personal noise. ME Causes / Interests Advertising Work colleagues Friends from home $104B (Interstate) “Randoms”Thursday, 24 May 2012
  5. 5. Pay ATTENTION!Thursday, 24 May 2012
  6. 6. Pay ATTENTION! “It’s harder to be relevant than to be successful” -BonoThursday, 24 May 2012
  7. 7. Members of The community graph Harbord Diggers’ Club People who like surfing People who catch ferries People who live in Manly UNICEF contributors People who live in Bondi Members of People who like cars AIMIA Customers of Rusty surfboards People who like restaurants / eating out. Customers of Doyle’s People who like Bondi Beach restaurants / eating out. The key to social commerce lies not in the social graph but People who participate in in the community graph. Rugby fans Clean up Australia DayThursday, 24 May 2012
  8. 8. The pub, the park and the piazzaThursday, 24 May 2012
  9. 9. The ‘social marketplace’ Stuff I like Things I buy SOCIAL COMMERCE: Recommending more of this to the individual Stuff that people like me like and buyThursday, 24 May 2012
  10. 10. The business owner’s online toolkit I just want some tools ‘off the shelf’ to: Small business owners don’t have time • communicate with my customers or $ to break through advertising noise • buy and sell stuff in the attention economy. Make it affordable, with ways that I can find new customers too. So I have time to see my family at the end of the day. Cleaner HR Labourer Estimator Sales Manager Receptionist Courier Marketing Accountant Project Manager Business owner and member of the local communityThursday, 24 May 2012
  11. 11. Online marketing for small business Social marketplace • Consumers are here to discover & transact. • They discover things that are recommended to them Group buying • Direct transactions • $ price discounting • Reliant on aggregated audience of group buying site Social media • Relevance? • Time to maintain • Ongoing customer • $ to promote relationship? eCommerce • $ Build the tools • $ Maintain • Time to maintain Advertising • $ to promote • $ Cost of advertising • $ Build website • $ Maintain website • Time to maintainThursday, 24 May 2012
  12. 12. Connect Communicate Transact Contact Management including 1.3M social profiles One-page application to ability to invite payment gateway Social communication Your business / content is Self-serve offers & memberships recommended to RELEVANT people. Private communication In the online social marketplace, ‘word of mouse’ recommendations drive DISCOVERYThursday, 24 May 2012
  13. 13. Thursday, 24 May 2012
  14. 14. From attention to transaction Social marketplace • Consumers are here to discover & transact. • They discover things that are recommended to them Group buying • Direct transactions • $ price discounting • Reliant on aggregated audience of group buying site Social media • Relevance? •Time to maintain • Ongoing customer • $ to promote relationship? eCommerce • $ Build the tools • $ Maintain • Time to maintain Advertising • $ to promote • $ Cost of advertising • $ Build website • $ Maintain website • Time to maintainThursday, 24 May 2012
  15. 15. To get started, visit communityengine.com.au For more information, call 1300 COMMUNITY or email aimia@communityengine.comThursday, 24 May 2012

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