On October 23rd, 2014, we updated our
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1,000,000 10,000 1000 100 Personal Social Informational
Monetizing Social Media At its simplest level businesses monetize Social Media by: Attracting new fans and followers Encourage those people to engage or buy
What role does Operator play? Operator needs to become the key provider of Social Media services and monetization, with a mix of internal and 3rdparty platforms, applications and services. How do we get there? Vision – Goal – Strategies – Tactics
Vision Operator, the Social Network
“I can share more with my friends and family”
Operator: Makes sharing easy Encourages creativity Rewards loyalty
Vision Operator is the leading social media operator in the region, delivering valuable, measurable commercial results. “Mobileco makes it easy for our customers to communicate positive information about our products and services to others; and for us make relevant and valued offers”
Vision Operator is the essential partner for delivering high-value, measurable CRV and services for Agencies, Advertisers, Merchants and Content partners Provide a world-class ecosystem to enable, measure and monetize consumer conversations
Why? Opportunities for the mobile operator: Mobile media consumption device Mobile at point of need (retail / location opportunities) with Applications > Attract and Retain = increase Customer Lifetime Value Social Media > Recommendations = new Customer Referral Value >Transactions = new Customer Referral Value
Customer Referral Value This is the core metric that represents real revenue and monetization of the Operator customer base. We createnew value for and from our customers, retain the customer relationship, and monetize social networks which are increasingly being provided free by mobile operators. Data is not the end product – it is the merchant and transactions. Transactions & CRV scale, data plans are capped. Secondary Values: Brand Advocacy Quotient, Sentiment, Conversation (Mind) share. These are values for which advertisers are also willing to pay. See How Valuable Is Word of Mouth? By V. Kumar, J. Andrew Petersen, and Robert R Leone hbr.org/products/R0710J/R0710Jp4.pdf
Goals Capture CRV Right message, Right moment
Getting there NOW Social Media is a usage driver – sticky applications yields more data revenues & ‘social’ handset sales – drives demand for mobile internet packages. Problem: Commoditization of data – arrival of capped data plans. NEXT Align Social Media activity with partner brands and objectives. Facilitate sharing, recommendations and transactions, then align and measure consumer Social Media activity with real-world results.
Our Goals Capture CRV and increase revenue from partners using Operator’s Social Media platforms
Our Goals Deliver the right branded message at the right moment or location
Strategy Leverage trends
Key trends to capture subscribers & create new consumer segments Key trends defining digital life Openness & interoperability Relevance (Personalization) Social Networking & Trusted relationships
Trend1. Openness & Interoperability Strategy Create an ecosystem & APIs to bring together: Developers, Merchants, Partners (Agencies, Advertisers) Provide tools & guidelines to build the applications Monetize the in-house platforms as a gateway for Merchants, Agencies, Advertisers and Content Partners
Trend2. Personalization Strategy Personalize based on the user’s individual behaviors and personas: Deliver updates and recommendations based on their behavior, time and location Its been tried and tried, but try again!
Strategy With implicit authentication from phone/ipad, enable trusted interactions, recommendations and transactions With too much information, filter content through people I trust and talk to. The right contacts at the right time based on customer behavior, time and location. The trusted authentication gateway for social network access, branded apps, content, services. Trend3. Social Networking & Trusted relationships
note… Don’t try to beat the market with a competing marketplace…
1. Ecosystem & APIs “Innovate from the outside” Strategy Widening App platform to be a community for developers to maximize 3rd party opportunities. Open the application platform for services and billing Seed the local application market - Application Challenges. APIs for wholesale & business markets e.g. Facebook for BlackBerry is 10th biggest FB download @ 18 MAU In-fill with in-house applications Develop strategic partnerships with brands, and industry development programs
2. Exclusive / Unique apps Treat apps as we treat content – drivers to subscription & retention. Compete with co-branding to deliver the ‘best’ or most popular apps. Bundle exclusive app packages on Operator handsets. Creates the user base to monetize with partners.
3. Co-branding with consumer brands. There is a major opportunity to capture users with branded marketing apps This follows the mobile portal experience.
Remember the Goals Capture CRV and increase revenue from partners using Operator’s Social Media platforms Deliver the right branded message at the right moment or location
Example 1 - capture CRV Establish Operator media-zones with partner cafes and retailers. Provide this as a ‘free’ (existing network) high-bandwidth zone for smart/social Operator phone users. Is effectively a ‘permission marketing zone’. Scenario: You are in a partner café redeeming your café points for a free coffee and reading a free newspaper online (authenticated in the partner media zone). You read a review on credit cards in the personal finance section. Your iPhone buzzes. An offer arrives for a pre-approved card and a bonus points transfer. You click to accept. Operator and the publisher share the $100 acquisition fee.
Example 2 – right message at the right time Scenario: You are a reading a friends positive comments of a new restaurant at the end of the day (sentiment analysis). Your iPhone buzzes. A coupon arrives in your mobile inbox with a 2-for-1 offer for meals of $50 or more. The coupon has directions, telephone booking link and a count-down code that expires in 3 days, nudging you to act.
Next steps – map opportunities Market research, find out who are your smart / social media customers Competitor & Gap analysis Engage in cross functional development team (marketing, products etc) Dedicated business sponsors Have accountability and ownership Iterative development process Sanity check business case at milestones for any development more than 2 months User testing, BRT Collate and measure customer data Speed - Time to market is paramount
Vision Operator is the essential partner for delivering high-value measurable CRV and services for Agencies, Advertisers, Merchants and Content partners Provide a world-class ecosystem to enable, measure and monetize consumer conversations