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The "Trusted Reference" Model for Social Commerce


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I gave this presentation at the MIT enterprise forum of NY a year and a half ago. The NY Times Bit blog piece on comments by Venrock's Brian Ascher about the "Right Time Web" made me dust it off. I tidied it up a bit, but not much. My predictions about the imminent arrival of the "Trusted Reference" model in the e-commerce world were at least a year too soon.

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The "Trusted Reference" Model for Social Commerce

  1. 1. The “Trusted Reference” Modelfor Social Commerce<br />
  2. 2. 2<br />How do I get the maximum marketing<br />benefit from my current customers?<br />
  3. 3. 3<br />Focus on user-generated content,<br />community, ratings & reviews<br />
  4. 4. 4<br />i.e. Facilitating interactions<br />between strangers<br />
  5. 5. 5<br />“Influence me very strongly”<br />Source: Rubicon Consulting<br />
  6. 6. 6<br />“People I like”<br />“People like me”<br />
  7. 7. 7<br />Which emails do you read?<br />
  8. 8. 8<br />“The friend name”<br />has magical power<br />
  9. 9. 9<br />So how do you get “the friend name”<br />into the buying process?<br />
  10. 10. Hey friends, I just got a vertalizer, and it’s the best thing ever!<br />10<br />
  11. 11. Spammer<br />Oops…<br />Not again!?!?<br />Why are you bothering me with that?<br />Not interested.<br />11<br />Shill.<br />
  12. 12. 12<br />There is another way.<br />
  13. 13. 13<br />Instead of trying to activate the recommender…<br />
  14. 14. 14<br />…activate the buyer to reach out<br />and get the recommendation<br />
  15. 15. 15<br />Recommendations that were requested are:<br />Trusted<br />&<br />Welcome<br />
  16. 16. 16<br />To activate the buyer:<br />Tell them,<br />at the moment they are shopping,<br />which friends can help them<br />
  17. 17. 17<br />Context is king<br />
  18. 18. 18<br />“Trusted references” in context<br />
  19. 19. 19<br />Good places to deliver “the friend name”<br />(ie where purchase intent can be inferred):<br />Merchant sites<br />Comparison sites<br />Search sites<br />Related content sites<br />Bad ones:<br />Email<br />Social networks<br />Unrelated content sites<br />
  20. 20. 20<br />Social-graph-powered applications<br />will be major focus of attention<br />for ecommerce players<br />
  21. 21. 21<br />Advice from friends<br />is better than<br />advice from strangers<br />Thank you!<br />George Eberstadt<br /><br />