Showing posts with label social currency. Show all posts
Showing posts with label social currency. Show all posts

Sunday, September 23, 2012

How can Apps help build up your Social Currency?


In my last post "3 Phase Strategy in Digital Commerce", I brought up the potential ways in which:
  1. Apps could act as outposts to consumers and build up communities.
  2. Social messaging platforms and content marketing could engage with your consumers.
  3. Commerce in general is bringing in the social engagement and recommendations to the online and mobile space as consumers are increasingly on-the-go and expect value from differentiated offers.
Wikipedia definition of social currency for your business states that it constitutes the entirety of actual and potential resources which could arise from the presence of your business in social networks and communities - digital or offline.

So how do mobile apps come into the picture in helping to build up social currency for your business? Growth in on-the-go consumers and mobile content consumption are changing the ways in which consumers are putting their attention and mindshare on business and marketing news. In southeast asia markets, whilst largely feature phone driven, smartphone growth are fast outstripping the growth of feature phones in the recent 2 years with the availability of low cost affordable smartphones. Internet access via low cost tablets and wifi enabled cafes are also helping the fuel internet access and content sharing. Have a look at my initial take on the Southeast Asia mobile and internet market (I will be updating this in another post) and you would see the potential reach of apps in Southeast Asia markets. Should you look into getting a piece of this channel? Yes. Is it worth your while? YES!



In developing the app strategy for your business, you would need to understand that in today's world of on-the-go consumers and pervasive mobile internet access, the market landscape for the consumption of business and marketing information is changing. No longer static in nature, there is a shift of information sharing and communication from static documents in your PCs to browsers and now increasingly via apps in smartphones, tablets, feature phones and more upcoming screens.

Here is a slide on how mobile apps: 

  • could be used as experimental outposts to reach your consumers 
  • to seed and incubate concept messaging, 
  • and build up specific vertical communities for businesses. 
Open declaration here: the apps DishPal, StyleTag and StARCALL are from SK Planet where I currently work in.



By nurturing your communities, engaging your users with the all-important relevant content calendar, you start to be able to mine and garner value for your business from your interactions with your consumers through the profiling of your community users.

Referring back to my previous post on the the 3 phases in Digital Commerce, the social messaging platform when coupled with nurtured communities and consumer profiling from apps, will grow richer with more relevant consumer and business context.

Let's discuss further - in subsequent posts or reach me directly.

I look forward to hear from you.

Nelson Wee
LinkedIn Profile: http://www.linkedin.com/in/nelsonwee
Twitter: @nelsonwee
Slideshare: http://www.slideshare.com/nelsonwee 

Thursday, February 18, 2010

4 Trends in New Digital Media Development


Quick, very quick these days.

As the months go by, 4 trends are emerging in the new digital social space in terms of what, how and where media is being presented to consumers and how interactions are taking place.

1) New Behavior: From Individual Consumption to Social Sharing
Reading and keeping up to date with news around you is mandated - like a daily coffee fix, especially in today's world where information flows go by in a flurry.  News from print and radio are old.  And so there are digital versions of newspapers and radio made into apps.  To keep up with the changing digital generations, these apps have evolved from standalone features to contain social sharing capabilities.

2) New Evolving Business Models: From Per Download to Metering or Freemium or Social Currencies
One off pay per download digital contents start to lose their luster from a business point of view.  We start to see experimentations in metering, getting freemiums into play or developing social games where social currencies are the in-thing for today's world.

3) New Touchpoint/Access: From Few to Multiple Appliance Readers
The age-old radio, TV and Movie Theaters are set to be replaced or a revamp, as we see new multimedia and internet capabilities come to mobile phones, e-book readers, netbooks etc.

4) New Reach: From Global to Hyperlocal and vice versa
The search for location specific information is hot.  Because the immediacy to satisfy your contextual needs is deemed relevant.

I will be making associated observations and looking to provide examples of how the above trends are impacting our behaviors in this day and age of new media consumption.  Do feel free to share your thoughts and experiences.


Talk soon,
Nelson Wee
@nelsonwee

Photo credit: ryersondmz / Foter.com / CC BY-NC-SA