sajal agarwal, thibault dauphin, evana eko, robert kahuanui iii, ishai rosenberg, nana stephens
Post on 30-Mar-2015
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NEW EMERGING BUSINESS MODELS
SOCIAL MEDIA Sajal Agarwal, Thibault Dauphin, Evana Eko, Robert Kahuanui III, Ishai Rosenberg, Nana Stephens
From Flintstones to The Jetsons
Business Model – Flintstone Era
FIRM
End Users
Businesses
(Customers)
Business Model – The Jetsons Era
FIRM
End Users
Businesses
(Customers)
User generated content
User Platforms
Digitization of Business
Virtual communities
What is Social Media Doing?
Bringing un-stoppable CHANGE to the way we do business!
General Business Cycle
Advertise Goods/Services
Sale
s
(Take O
rders
)
Solicit Feedback
Pro
du
ct D
esig
n /
Man
ufa
ctu
ring
General Business Cycle
Advertise Goods/Services
Sale
s
(Take O
rders
)
Solicit Feedback
Pro
du
ct D
esig
n /
Man
ufa
ctu
ring
Product Design Case Study:
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.
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?
General Business Cycle
Advertise Goods/Services
Sale
s
(Take O
rders
)
Solicit Feedback
Pro
du
ct D
esig
n /
Man
ufa
ctu
ring
General Business Cycle
Advertise Goods/Services
Sale
s
(Take O
rders
)
Solicit Feedback
Pro
du
ct D
esig
n /
Man
ufa
ctu
ring
Marketing Case Study: Pink Nation
Reaching Customers
Through Social Media
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!
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?”
General Business Cycle
Advertise Goods/Services
Sale
s
(Take O
rders
)
Solicit Feedback
Pro
du
ct D
esig
n /
Man
ufa
ctu
ring
General Business Cycle
Advertise Goods/Services
Sale
s
(Take O
rders
)
Solicit Feedback
Pro
du
ct D
esig
n /
Man
ufa
ctu
ring
Sales Case Study: Online Doctors
Doctors communicate with their patients online – share test results, appointment scheduling.
http://www.kp.org
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
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?
General Business Cycle
Advertise Goods/Services
Sale
s
(Take O
rders
)
Solicit Feedback
Pro
du
ct D
esig
n /
Man
ufa
ctu
ring
General Business Cycle
Advertise Goods/Services
Sale
s
(Take O
rders
)
Solicit Feedback
Pro
du
ct D
esig
n /
Man
ufa
ctu
ring
Feedback Case Study: U.K Govt
Changing the way they govern
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/
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/
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
How wide-spread is this phenomenon?
MySpace
Widgets
Blogs
YouTube
Facebook page
How wide-spread is this phenomenon?
WidgetsYoutube
Facebook Page
QUESTIONS?
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