Socialnomics – The Inevitable Business Solution
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The presentation I gave at University of Delhi SSCBS- Convergence 2014 about how social media is changing the rules of economics by a new form of marketing.
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Socialnomics – The Inevitable Business Solution
- 1. Convergence 2014 1 Socialnomics – The Inevitable Business Solution University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 2. Convergence 2014 2 WHAT IS Socialnomics ? SOCIAL + ECONOMICS University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 3. Convergence 2014 3 WHAT IS the DRIVING Force??? SOCIAL + MEDIA Platforms University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 4. Convergence 2014 4University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 5. Convergence 2014 5 Why Social Media Matters??? BIG NUMBERS Mind Boggling Numbers REAL $$$$$$driving Numbers University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 6. Convergence 2014 6 So What is Happening on Social Media First a few things that we have all indulged in •Pictures – a lot of CAT and dog pictures • Gossip • Chain mails and messages • Love and HATE •Announcements •Selfies – Word of the year 2013! University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 7. Convergence 2014 7 What is Happening on Social Media Common Belief Groups •Photography • Conservation • Lobbying •Traveling • Fan groups •Selfies and Groupies ( yes once again! ) •Asking and Recommending $$$$$ University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 8. Convergence 2014 8 What is Happening on Social Media What are folks Recommending ??? •Books • Movies • Hotels •Startups and investment ideas • Mobiles & Electronics • Social Causes ( rangde.org ) •$$$$$$$$$$ University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 9. Convergence 2014 9University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 10. Convergence 2014 10University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 11. Convergence 2014 11 •How did the traditional business reacted? •It is a joke – •This is for people with no work •This will go away we have been around for 10os of years •These kids don’t know how to do business • It will never work in real world !!!! •Who will buy from Internet.??. We want to see touch and feel BUT BUT BUT University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 12. Convergence 2014 12 Nothing is stronger than an idea whose time has come- Victor Hugo University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 13. Convergence 2014 13 •There was Stone AGE •Bronze AGE •IRON AGE •Steam Engine / Automobile / Air TRAVEL / Nuclear AGE • AGE OF SOCIAL MEDIA University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 14. Convergence 2014 14 Some Biggest Companies today are Social Media Companies Social MEDIA IS Driving the big bucks for biggest companies Impacting 3 Rs of Age of Social MEDIA 1. Reputation 2. Recall ?? 3. REVENUE $$$ University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 15. Convergence 2014 What Works on Social Media ???? We do have some idea What Does Not works !!! FORCE ? Monopoly ?? HIGH Price ??? Ostrich Approach ???? 15University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 16. Convergence 2014 16 So WHAT Works ??? Guesstimates based on limited experience On the 3 Rs of Age of Social MEDIA University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 17. Convergence 2014 17 R-Reputation •Instant response •Multiple channels •Referrals •Influencers ( blogs, tweeters, SM celebrities ) University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 18. Convergence 2014 18 R-Recall •Contests ? •# Hashtags ? • Social Groups • Emotional events e.g special days University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 19. Convergence 2014 19 R-Revenue •Debt – Credit Card •Volumes •Money Mobility •Reach •Supply chain •Freshness University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 20. Convergence 2014 20 Viral potential Is dependent on USABILITY or Entertainment •Tatkal Train Tickets •What to shop in Kerala ? University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 21. Convergence 2014 21 Do check •Social Media Platform best for your business by Neil Patel • MOZ • How to find social media influencers University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 22. Convergence 2014 22 Let us Socialize •ThedesiTraveler- Facebook •@desiTraveler -Twitter • desi Traveler - India Travel blog University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler
- 23. Convergence 2014 23 THANKS desi Traveler University of Delhi SSCBS- Convergence 2014 Socialnomics - Prasad NP aka desi Traveler