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Fundamental Change in Online Shopping
2
Fundamental Change in Online Shopping
3
Online social network users were three times more likely to trust their peers' opinions over advertising when making purchase decisions. (1)
Consumer recommendations, like those on social networking sites, are the most credible form of advertising. (2)
Word of mouth marketing, including social networking, is the number one influencer in consumers’ apparel and electronics purchases. (3)
1. JupiterResearch, March 20072. Nielsen, October 20073. Retail Advertising and Marketing Association/BIGresearch Study, November
2008
Consumers want to connect with you4
What’s Ahead?5
Who are your customers?6
What are they doing online?7
Sharon8
How Sharon Used to Shop9
How Sharon Shops Now10
Ron11
What Ron Does Online12
Build Communities & Go Where Your Customers Are
13
The 9 Main Internet Business Models14
More at http://digitalenterprise.org/models/models.html
Merchants15
Manufacturers16
Brokerages17
Affiliates18
Information Intermediaries19
Utilities20
Advertising21
Subscription22
Community23
Can Combine Multiple Business Models24
Advertising Affiliate Community Information Intermediary Subscription Utility
Advertising Affiliate Brokerage Manufacturer Merchant Subscription Utility
Using Community25
Discussion Forums26
http://www.threadless.com/blogs
Articles and Blogs27
http://www.drsfostersmith.com/pic/
Content Added by Customers28
http://braggingboard.gandermountain.com/
Tell a Friend29
http://www.wetseal.com/
Social Shopping30
http://www.fluid.com/products/fluid_social
An Entire Social Network31
http://www.mysears.com/
Create Your Own on Ning.com32
http://community.muttropolis.com/
StyleCaster Just Raised $4 Million33
http://www.techcrunch.com/2009/07/01/stylecaster-nets-4-million-for-personalized-fashion-community/
What would Sharon & Ron want?34
Capitalize on the Long Tail35
Offer Subscriptions for Specialized Content
36
Successful Subscription Models37
Successful Subscription Models38
Types of Content39
New Marketing Channels for Online Retailers
40
Virtual Goods
In-Game Advertising
Group Selling
What are virtual goods?41
Revenues from Virtual Goods42
Est. $621 million in U.S. in 2009 Increase of 134% from 2008
Est. $2.5 billion in U.S. in 2013
Source: http://www.emarketer.com/Article.aspx?R=1007226
Who Buys Virtual Goods?43
Source: http://blog.viximo.com/corporate/2009/07/22/who-buys-virtual-goods-its-not-who-you-think/
Why Do People Buy Virtual Goods?44
Source: http://blog.viximo.com/corporate/2009/07/15/top-3-reasons-people-buy-virtual-goods/
1. Status – Virtual goods help you stand out from the crowd
2. Socializing – Virtual goods help you express yourself
3. Winning – Virtual Goods help you gain an advantage
Examples of Virtual Goods45
Examples of Virtual Goods46
Source: Free: The Future of a Radical Price, Chris Anderson
Examples of Virtual Goods47
http://www.playspan.com
How can you incorporate virtual goods?
48
What is In-Game Advertising?49
Pre-roll, mid-roll, or post-roll video ad
Rich media ad inside game
Brand overlay inside game
Est. $1 billion+ market for in-game advertising by 2010, according to Nielsen Media Research.
More than one-half of US adults play video games, and about one in five play every day or almost every day, according to the Pew Internet & American Life Project.
Examples of In-Game Advertising50
In-Game Advertising Opportunities51
http://www.spotxchange.com/
Ability to Target52
What is Group Selling/Group Buying?53
From WujWuj.com
Examples of Group Selling Sites54
Consider Your Margins55
Conclusion56
Thank You!57
Carol Morgan Cox
@CivicLink carolmorgancox.com
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