Thursday, March 25, 2010

Feeling social and wanting dollars

I participated in the Social Media and Monetization Roundtable put on by Plugged Inventures. Some of the participants (apologies for not having a complete list) included:
David Lifson, CEO Postling and ex-Amazon and Etsy
Eric Goldstein, CEO Amplify
Kate Gutman, VP Digital Revenue Riders Digest Interactive
Matthew Milner, VP Social Media Hearst Digital
Sarah Tevel, Associate Bessemer Ventures

As expected, the session was about the tie between creating an audience and the potential for creating near-term value (as opposed to equity value) from such aggregation. Here were some of the pithy statements which caught my attention:

"I think of sites, such as FourSquare, as small/medium business CRM"

"Social has escaped the marketing department and is now touching all parts of a corporation, ranging from ranging from development to sales through support"

"Flash commerce, through sites such as Groupon and Gilt will expand beyond fungible goods and into services and consumables"

"People who embrace social sites early tend to be 'me' focused and are deeply affected by psychic rewards. They provide the kindling that bring initial value to the later participants who seek instant gratification from the value of 'we'

In addition, emerging companies mentioned that brought nods of 'yea, cool' were:

Pushkart- Measuring social worth (and tying it to commerce)
Blippy- Uses credit card information to link folk to share and discuss things they are buying
Media 6 Degrees- Social targeted advertising
Groupable- Match sponsors with groups of people with common interests
Dotomi- Taking a personalized approach to display advertising; differentiate through remarketing

As a member of too many, or perhaps, not enough social networks, I am caught up in a cycle where my identity is fragmented amongst many domains.

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