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NEW EMERGING BUSINESS MODELS SOCIAL MEDIA

Sajal Agarwal, Thibault Dauphin, Evana Eko, Robert Kahuanui III, Ishai Rosenberg, Nana Stephens. NEW EMERGING BUSINESS MODELS SOCIAL MEDIA. From Flintstones to The Jetsons. Business Model – Flintstone Era. Business Model – The Jetsons Era. User generated content.

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NEW EMERGING BUSINESS MODELS SOCIAL MEDIA

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  1. Sajal Agarwal, Thibault Dauphin, Evana Eko, Robert Kahuanui III, Ishai Rosenberg, Nana Stephens NEW EMERGING BUSINESS MODELSSOCIAL MEDIA

  2. From Flintstones to The Jetsons

  3. Business Model – Flintstone Era

  4. Business Model – The Jetsons Era User generated content Digitization of Business User Platforms Virtual communities

  5. What is Social Media Doing? Bringing un-stoppable CHANGE to the way we do business!

  6. Advertise Goods/Services Product Design / Manufacturing Sales (Take Orders) Solicit Feedback General Business Cycle

  7. Advertise Goods/Services Product Design / Manufacturing Sales (Take Orders) Solicit Feedback General Business Cycle

  8. Product Design Case Study:

  9. Product Design Case Study: • Customers play a key role in product design: • Vote for favorite designs • Purchase designs they care about • Designers get feedback on their designs • Customers can rate T-Shirts • Customers therefore feel a part of the company • By placing emphasis on customer input at the design phase of the business, Threadless.com is able to successfully leverage social media, to customize their designs to the unique tastes of each of their customers.

  10. What are the possibilities? • Could mainstream fashion designers do this? • Can toy makers use this to allow kids to create their “Next Best Toy”? • Could auto-makers request submissions for car designs? • Could the hospitality industry use this to solicit clients’ input on amenities to have in their next hotel? • Could the government use this to solicit ideas for how to deal with certain issues – have people vote on ideas?

  11. Advertise Goods/Services Product Design / Manufacturing Sales (Take Orders) Solicit Feedback General Business Cycle

  12. Advertise Goods/Services Product Design / Manufacturing Sales (Take Orders) Solicit Feedback General Business Cycle

  13. Reaching Customers Through Social Media Marketing Case Study:Pink Nation

  14. Marketing Case Study: Pink Nation • Retail – Flintstone Era: • Focus on in-store interactions, focus groups & sales figures • Avenues for obtaining customer feedback - few and expensive • Victoria Secret’s PINK: • PINK Nation, has more interaction than main website • Vote to have Alma Mater on PINK • Use Facebook page to get feedback on styles etc • One of few to create a fully functional mobile site • “Is it better to get MANY people to watch your video, or FEW of the right people?” Social Media is creating the bridge – making it possible to reach MANY of the RIGHT people; inexpensively!

  15. What are the possibilities? • Could taste-driven coupons be developed? • Could location-based advertising be done? For e.g. customer enters a store and automatically, receives a text message about store specials • Could consumer focus groups become obsolete? • Could the customers become designers – submit underwear design and let customers vote on the “Design of the Month”? • Could loyalty programs be revamped using tools from social media? For e.g. can I get a list of “Consumers who bought X also bought Y – in the store?”

  16. Advertise Goods/Services Product Design / Manufacturing Sales (Take Orders) Solicit Feedback General Business Cycle

  17. Advertise Goods/Services Product Design / Manufacturing Sales (Take Orders) Solicit Feedback General Business Cycle

  18. Sales Case Study: Online Doctors • Doctors communicate with their patients online – share test results, appointment scheduling. http://www.kp.org

  19. Sales Case Study: Restaurants • Restaurants accept food orders for pick up or delivery via facebook, twitter, online and via text message. http://www.grubhub.com

  20. What are the possibilities? • Tweet restaurant page to solicit menu recommendations from customers that are in the restaurant? • Anonymous conversations with strangers at the same restaurant? • Can Zagat ratings become obsolete? Can they be replaced by live and historic customer feedback? • Mobile clinics that go around taking samples etc, and send online doctors data electronically? • Online contractors for “Do-It-Yourself” initiatives? • Airlines allow customers to tweet about pre-flight, in-flight and post-flight activities?

  21. Advertise Goods/Services Product Design / Manufacturing Sales (Take Orders) Solicit Feedback General Business Cycle

  22. Advertise Goods/Services Product Design / Manufacturing Sales (Take Orders) Solicit Feedback General Business Cycle

  23. Changing the way they govern Feedback Case Study: U.K Govt

  24. Feedback Case Study: U.K Govt • U.K Government is on Facebook!!! • Have an application that delivers daily feeds • A means by with the Prime Minister sends news and updates • Has a little over 500 fans • U.K Government is also on Twitter!!! • Has 1.39 million followers • Very news focused • … And on Youtube! • The “Ask the Prime Minister” feature • Users vote on top questions • PM responds • UK Government uses Flickr to share photos of events • http://www.ignitesocialmedia.com/Social-Media-Example-21-UK-Government/

  25. Getting Ideas & Feedback Virtual communities • Companies are using Social Media to get insights directly from the people who matter most - Their customers. • http://mystarbucksidea.force.com/

  26. Feedback – User Communities • Users can interact with each other. • Ask questions, rate answers, share recipes, motivate each other. • Save company money – less customer help resources

  27. How wide-spread is this phenomenon? Widgets MySpace YouTube Facebook page Blogs

  28. How wide-spread is this phenomenon? Widgets Youtube Facebook Page

  29. QUESTIONS?

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