Posts Tagged 'Social Networking in India'

Facebook – Social Media or E-Commerce Strategy Required!!

Everyday facebook seems to be attracting millions eye balls across continents with average time spent on site increasing every month they soon needed a business model which evolves facebook from just being something dependent on Advertising to something which is recession proof or a transaction based business model which would lead to creation of biggest  marketplace platform which will have 10X  the valuation which it presently command and will be a true ebay or amazon competition.

There are already test runs being done for a payment system similar to paypal which will be available for developers to integrate with facebook apps being developed. With its availability it will open a new world for individual or mom&pop stores to come up on facebook giving competition to big stores due to power of community which empowered ebay.

Imagine coming up with a simple app of creating custom t-shirts with photos or coffee mugs with same for fan clubs to buy online and retail through community pages on facebook. Other hand even complex mico finance lending apps can become real time why facebook with money sharing and management throught online platform.

Over years online book stores like amazon have tried to invest in building products which help bring trust and confidence in people on search results via people reviews of product, community building etc which has helped in generating signifcant return by increase in ARPU(Average return per user) and increased order sizes, Now image with network of trust already established among people on facebook it will take right e-commerce strategy to get product results the way it would work on setting up store on internet.

Today when people talk about social media strategy they talk about blogging, community sites, apps on social networking sites and how brand/product can be positioned or communicate with their audience through such medium. All RoI metrics which are shared are similar media measurement metrics, they still dont map to e-commerce goals or sales goals for the product. I strongly believe its just due to the fact communication manager or marketing manager is defining direction for usage of platform instead of E-commerce manager who should be working on creating apps and strategy to sell products via an online catalog by understanding user behaviour with the platform.

Possible applications

i) Event Ticket Retailing – With so much convience to manage invites for events among peer networks. First feature which can start to reap benefits would be events ticket retailing via facebook and like google long tail theory would apply where even person is able to sell 10 tickets in his network still due to M-M fundamental of people using the platform facebook will make lot of money.

ii) Dell Laptop store – Dell could have a laptop store on which people can customize type of laptops or desktops built over dell series host them on their profiles for other people to see as their recommended PC to buy and earn comission through promoting Dell product ofcourse with their knowledge guarantee in their network

iii) Alternate to Itunes– People recommended music can sell via hosted service similar to i-tunes probably catalog app developed by music companies.

These are couple of opportunities which will come for businesses more than that today professionals need to start investing time in understanding the platform and start looking it as a marketplace platform instead of communication platform.

Open to other people adding their comments on way they see facebook evolve. Though bottom line is I see facebook as the next killer e-commerce app!!

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Social Networking Model – What opportunity they present to us?

Till now india has seen burst of new social networking portals coming in trying to vow users from each other trying to generate numbers.  But we have still not seen companies looking at developing business models which effectively use the strengths of existing social networks to gain traction.

For instance you could look at starting a product company which specializing in developing technology components for social networking sites which help them monoteize their customer base. Like AD serving products which work over google ad sense or other products on offering. Another idea which my friend came up with was creating an organization which provide digital currency to these social networking sites giving power to spend for micro payments on these platforms or generate services which e-commerce enable the social networking platforms. The opportunity are immense and would love to organize a meet with fellow like minded people who feel social networking is here to stay and digital economy can be developed around it.

Please leave a comment or contact me directly if you feel we could do something together in organizing such meet.


Contact Details

E-mail:siddharthpuri@gmail.com Call Me :+91-9910444460
November 2017
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