Download - Andreas Weigend @aweigend
Andreas Weigend@aweigend
www.weigend.com
San Francisco, CA03 May 2010
1990’s: Search - find
2000’s: Social - share
2010’s: Mobile - create
3 Decades of Innovation
Social Data RevolutionHow the
Changes (Almost) Everything
• How do we “utilize” the “community”?• Who do we listen to?• Who do we co-create with?
– Physical friends– Peers (similar properties to you)– Ad hoc (e.g., for car purchase)– Experts (what bestows authority?)
• Institution? Past action? • Reputation/ brand as shortcut to allocate
attention
Social Data Revolution
Social Data RevolutionIn the last minute• 4,000,000 search queries,• 500,000 pieces of content shared on
FB,• 100,000 product searches on
Amazon.com,• 40,000 bit.ly urls created,• 40,000 tweets sent
Who creates data? Data is the digital air in which we breathe
How will this data be used? Improve product design, service delivery, relationships
How will this data be shared?Every company is a publishing company
What (if anything) does it mean to “own” data?
Data creation andsharing
1800’s: Transport energy Industrial Revolution
1900’s: Transport data Information Revolution
2000’s: Create and share data
Social Data Revolution
private public
Blippy: Sharing purchase info
Social: Distributed to FB friends
Case study: weigend.com/blog
CompareFBconnect on blog withtraditional contact box (no social element)
ConnectingComputers
ConnectingPages
ConnectingPeople
Underlying?
Data The amount of data each person
creates doubles every 1.5 … 2 years
□ after five years x 10□ after ten years x 100□ after twenty years x 10000
1 billion connected flash players
40 billion RFID tags worldwide
Pay-as-you-drive car insurance (GPS)
99% DNAoverlap
Biology: ~100k yrs
Time Scales
Social Norms: ~10 yearsData, Technology: ~1 year
Social Data RevolutionHow the Changes (Almost)
Everything
Or is information justan excuse for
communication?
Purpose of communication:to transmit information?
Web 0 Computers
Web 1Pages
Web 2People
Data
Introduction DataI C2B (Customer-to-Business)II C2C (Customer-to-
Customer)III C2W (Customer-to-World)IV Insightsv Questions
C2BPart I:
+1 800-4-SCHWAB
Imagine...
You knew all the things people here have bought
... what would you do?
You knew all of their friends
You knew their secret desires
Discovery
Recommendations
Decision making
Google helps people find
stuff
…but people want to discover and help with decisions!
…based on reviews
Amazon.com helps peoplemake decisions…
C2B Data Strategy:- Reviews- Purchases, Clicks…
Customers who bought this item also
bought…
Customers who viewed this item also viewed…
Customers who viewed this item ultimately
bought…
… based on clicks and purchases
Amazon.com helps peoplemake decisions…
… only occasionallypunctuated by purchases
Process of creating and refining product space awareness…
Shopping?
How do you know peoples’secret desires?
Accounting
Amazon.com is engineered for feedback
Context Geolocation Device
Attention Transactions Clicks
Intention Search
Data Sources
Connection data
The Social Graph
New phone product: How to market?
Connection dataWho called whom?
Traditional segmentation
DemographicsLoyalty
Connection data
Traditionalsegmentation
0.28%
Adoptionrate
1.35%
4.8x
Business
Customers
C2CPart II:
C2C = Customer-to-Customer
Customers share with each other
Amazon.com Share the Love
Amazing conversion rates since you chose:
Content (the item)
Context (you just bought that item)
Connection (you ask Amazon to email your friend)
Conversation (information as excuse for communication)
Blippy: Sharing purchases
Social network intelligence
Fraud reduction
–
Provide risk scores
Social graph targeting
Provide list of prospects
Influencer Marketing?
Real life vs
Market to influential people… … and then reach everyone else for free
Real Life Facebook 38% ≥ 4 links 86% ≥ 4 links
1
23
4
Chain length
C2WPart III:
Amazon.com: Public sharing of interests
Consumers
- Engage- Share- Connect
3 times per week
“We are not in the business of keeping the media companies
alive.”
“We are in the business of connecting with consumers.”
Trevor EdwardsNike Corporate Vice President forBrand and Category Management
Q: Or rather in the business of facilitating consumers to connect with
each other?
• Search tweets• Create tweets • Follow users
http://www.mrtweet.com
The Illusion of an Audience
InsightsPart IV:
+ wheels
+ heels
=
=
Product
Customer
Brand
From controlled production for the masses…
… to uncontrolled production by the masses
Shift in CustomerExpectations
People trust reviews and comments by others more than marketing messagesPeople use their friends’ attention to filter information and to discover new things
=
Socialfilter
Rooms to Avoid:
01, 21
08, 17
Rooms Ending in:
Possible Ice Machine / Elevator Noise
Limited View Rooms
Corner / Oversized Rooms:
04
24
Oversized, Corner Room, Quiet RoomOversized, Corner Room with North Times Square Views (Higher Floors are Preferred
Rooms Ending in:
QuestionsPart V:
Data creation and sharing Consumer expectations Innovation methodology Marketing in SDR
The 4 C's of marketing
E-business Me-business We-business Monetization
Outline: Intuit Questions
Who creates data? Data is the digital air in which we breathe
How will this data be used? Improve product design, service delivery, relationships
How will this data be shared?Every company is a publishing company
What (if anything) does it mean to “own” data?
Data creation and sharing
How have consumer expectations changed towards creating, sharing, accessing, and controlling data, especially in the financial area?
•
What benefits will customers expect in exchange to giving Intuit permission to use their data?
Ultimately, how can Intuit help people discover products and services, make better decisions, and subsequently participate in the value its customers create?
Consumer expectations
How should Intuit experiment with C2C platforms for social commerce, such as Facebook?
How can Intuit leverage C2W data (Customer-to-World), such as Twitter?
Which new data sources and technologies should Intuit pay attention to, e.g., for recommendations?
Innovation methodology
What are the obstacles for Intuit to fully utilize the data of its customers
Including consumer choice, purchase decisions, social relations, attitudes and beliefs?
How can the limitations of traditional market research be overcome by "instrumenting the world“?
I.e., by systems and incentives that enable customers to give feedback to Intuit whenever they want to?
How can Intuit marketing leverage the consumer mind shift of the social data revolution?
Marketing in SDR
Content
Context
Connection
Conversation
The 4 C’s of Marketing
Who talks to whom? Consumers to consumers
Who trusts whom?Shift from institutions to individuals
Who is in control? From e-business (company focus, Web 1.0)to me-business (customer focus , Web 2.0)to we-business (community focus , Web 3.0)
E-biz Me-biz We-biz
Who manages whom? Move from CRM to CMR (Customer Managed Relationships)
Who pays whom? Design incentives for participation and interaction
Charge as much as you can Charge as little as you can?
• Jeff Jarvis
Transaction economy Relationship economy• Shoshana Zuboff
Monetization
Innovation Internal External
• “Most smart people don’t work here.” Bill Joy
DataCollect and analyze Create and share
ExperimentsPush and prey Launch and learn
Summary
Andreas Weigend@aweigend
www.weigend.com
Q & A
http://weigend.com/blog @aweigend
OPEN DATA is part of the OPEN FIRST group.Ted Shelton. Noreena Hertz. Doc Searls. Andreas Weigend.Research focused into how mobile – global – cloud impacts the organizations of the future.
OPEN DATA helps companies: Understand the value of the data they already have, and to Show them how to create significant additional value by combining these data with appropriate other data
Example: Publishing the right data in order to benefitCustomers and trading partners, andThird party developers.