ACS presentation 8 october 2012

1. Social networking
enhancing productivity
&
generating revenue
Email: suresh.sood@uts.edu.au
LinkedIn: sureshsood
Skype: sureshsood
Twitter: soody
Google +: http://gplus.to/soody

2. http://www.analytics.uts.edu.au/

3. Rules of the “new marketing” using social media
1. Authenticity
2. Advocacy
3. Marketing is real time conversations and feedback
1. Brand is the conversations

4. “Social” Trash Cans, City of Lucern (Switzerland)
Source: Neue Luzerner Zeitung Online, 11. Mai 2011
4

5. 3D printing marketplace and community
“Kinkos of 3d printing”

6. 3 Key Game Changers Enhancing Social - 2014
Connected TV Shipments to Grow at CAGR of 58 Percent
through 2014 with the Asia-Pacific region is the driving force,
with CAGR of over 60% and representing almost half of global
shipments by 2014.
Google prototype motion-sensitive headset integrating
GPS capabilities, Siri-style voice command and a camera.
Available consumers ~ 2014. Wearables a new front in
platform war with competitors ( Apple and Facebook)
disrupting the vast global eyeglasses market worth $96bn
by 2015.
Simplification of video-conferencing in work or home
Prescription glasses benefit from instant focus-switching
capabilities and opticians gain a stream of real-time data
from patients Source: Google+
Gross transaction value of mobile payments in Asia Pacific to rise to
$316 billion in 2014. According to forecasts, the combined global
market for mobile payments is expected to exceed US$1 trillion by
2014, with over one billion users in that year.

7. Transforming to Brands
=>
Vertical integration( control vs. ownership) orchestration by brand managers
death of traditional retail vs. wholesale
Portfolio Brands
Wholesaler
of vs
brands products
Online Offline
lease or financial arrangements
ensure control and management of brand promise
Mobile Exclusive brands to select retailers
S-commerce Co-brand opportunities
TV retailing
Pop up stores
Pre-shopping | Party sales (in-home)
In-store | In-home
Global Markets
7

8. Big
• Big history –ChronoZoom (Microsoft, UC Berkeley, Moscow State University )
– http://www.chronozoomproject.org/
• Art project (Google)
– http://www.googleartproject.com/
• Large Synoptic Survey Telescope (2015)
– three-billion-pixel digital camera
• Twitter
– 175 million Tweets/day, 1 Twitter accounts per second, 1 million accounts per day (Infographics lab)
– Usain Bolt 200m sprint generated 80,000 tweets per minute (Twitter is ~ 400m tweets per day in June 2012, Feinleib)
(http://www.mediabistro.com/alltwitter/twitter-olympics-stats_b26721
• Facebook shares 1 Billion “things via Open Graph daily (Protalinski 2012)
• Brand Engagement Opportunity Online $500B (Dachis 2012)
– 30,000 brands, millions of social accounts and 15 billion signals per month (Social Business Index; www.socialbusinessindex.com)
• Yottabyte (http://whatsabyte.com/)yottabyte)
– 1,000,000,000,000,000GB - Entire Internet and takes 11 trillion years to download on high bandwidth network

9. 24104 Emerging Marketing Issues and Social Media
“Make no mistake: Big Data is the new definitive source of competitive advantage
across all industries. Enterprises and technology vendors that dismiss Big Data as a
passing fad do so at their peril and, in our opinion, will soon find themselves
struggling to keep up with more foreword-thinking rivals”.
Big Data Manifesto | Hadoop, Business Analytics and Beyond -‐- Wikibon

11. Social CRM integrates social data
11

12. Aquarius,Aries,Cancer,Capricorn,Gemini,Leo,Libra,
Pisces, Sagittarius,Scorpio,Taurus,Virgo
An-Verb,An-Vis,Hol-Verb,Hol-Vis
A&F,Beijing ,Gucci,LVMH,New York,Old Navy,
,Paris, Sydney, Tiffany, Tokyo, Tommy, Versace
Depriv/Enhance,Enhance/Depriv
Africa,Argentina,Australia,Australia/Hong Kong,
Austria, California, Canada, China, Egypt, England,
Finland, France Germany, Guernsey, Holland, India,
Indonesia, Ireland , Israel, Italy , Japan, Kuwait,
Malaysia, Nepal,Paraguay , Philippines, Phillipines, Ambivalent, Employee, Opposer, Reporter, Supporter
Portugual, Saudi Arabia, Singapore South Africa, 11. Committed Partnerships, 12. Compartmentalised
Spain, Sweden, Taiwan, Thailand,UK ,USA Friendship,13. Childhood friendship,14. Courtship,15. Fling, 16.
Secret-Affair, 17. Enslavement , 2. Marriages of Convenience,3.
Best Friendships,4. Kinships, 5. Rebounds/ Avoidance-Driven,6.
Courtships,7.Dependencies 8. Enmities, 9. Love-Hate (Sweeney and
Chew)

13. 13

14. Beyond big – psychological ?
• Winter storms most significant impact on health over windstorms
and floods (2011)
– http://www.sas.com/news/preleases/ucf-storms.html
• Orbitz found Mac users on average spend $20 to $30 more a night
on hotels than their PC counterparts (2012)
– http://online.wsj.com/article/SB10001424052702304458604577488822667325882.html
• Cyber Attacks Don't Take The Holidays Off (2011)
– http://www.fastcompany.com/1800282/cyber-attacks-dont-take-holidays
• Quality Coding Takes A Break For The Holidays (2011)
– https://threatpost.com/en_us/blogs/quality-coding-takes-break-holidays-why-122011

15. 21st Century Focus Group: Twitter and Marketing Predictions
• Tweets is “found data” without asking questions
• More meaning than typical search engine query
•
• Large numbers of passive participants in natural settings
• Twitter can predict the stock market (Lisa Grossman, Wired, Oct 19 2010)
• Predict movie success in first few weekends of release
– “…it also raises an interesting new question for advertisers and marketing
executives. Can they change the demand for their film, product or service buy
directly influencing the rate at which people tweet about it? In other words,
can they change the future that tweeters predict?”
Tech Review, http://www.technologyreview.com/blog/arxiv/25000/
15

16. “…According to the spreading activation
model of Collins and Loftus (1975), the
concepts (or brands in this case) are
represented in memory as nodes…”
“Most of what we know we don’t know we know. It usually seems that we
consciously will our actions, but this is an illusion” (Wenger, Daniel 2002)
16

17. Service-Dominant Logic
• A logic that views service, rather than goods, as the focus of
economic and social exchange i.e., Service is exchanged for service
• Essential Concepts and Components
– Service: the application of competences for the benefit of another entity
• Service (singular) is a process—distinct from “services”— particular types of goods
– Shifts primary focus to “operant resources” (skills and knowledge) from
“operand resources” (static and tangible)
– See value as always co-created (Market With
i.e. Collaborate with Customers & Partners to Create & Sustain Value)
– Sees goods as appliances for service delivery
– Implies all economies are service economies
• All businesses are service businesses
Vargo, S.L. and R.F. Lusch (2004).
“Evolving to a New Dominant Logic for Marketing, Journal of Marketing 68(January): 1-17 17

18. Collaborative Consumption
bartering
gifting
lending
renting via online services
Sharing
swapping
trading

19. Evil Plans: Having Fun on the Road to World Domination
by
Hugh MacLeod (Kindle Edition - Feb 17, 2011)

20. Purpose Motive
Linux-Apache-Wikipedia
Drive #1: Eat when we’re hungry. Drink when we’re thirsty. Etc.
Drive #2: Respond to rewards and punishments in our environment.
Drive #3: We do things because they’re interesting and because they’re
engaging and because they’re the right things to do and because they
contribute to the world. (!!!)
“Our Third Drive, intrinsic motivation, is the most powerful.”
Drive: The Surprising Truth About What Motivates Us, Daniel Pink, Riverhead 2009
20

21. Busting Business Models via Collaborative Consumption (CollCons)
21

22. 3 Sub Markets of CollCons (Rachel Botsman)
http://www.collaborativeconsumption.com/the-movement/snapshot-of-examples.php
Collaborative Lifestyles
It’s not just physical goods
that can be shared, swapped,
and bartered. People with
similar interests are banding
Product Service Systems
together to share and
exchange less tangible assets
Pay for the benefit of using a such as time, space, skills, and
product without needing to money.
own the product outright.
Disrupting traditional industries
based on models of individual
private ownership. Source:
Redistribution Markets
Redistribute used or pre-owned
goods from where they are not
needed to somewhere or someone
where they are

23. Transaction is the Social Conversation

24. Where to next ?
Source: Botsman (2012) Welcome to the new reputation economy
Wired magazine 20 August 2012

25. Digital trustworthiness ?
The Aggregation of online reputation
Quora  Demonstrates expertise to recruiters
Stack Overflow  Future job
Airbnb  Trusted renter WhipCar
Ebay feedback  Etsy
Social influence  Credit
Source: Botsman (2012) Welcome to the new reputation economy, Wired magazine 20 August 2012

26. Bank 2.0
CRED (credibility) =
( credit score, eBay rating, P2P money transfers,
Facebook friends, LinkedIn connections, Klout,
referrals, bill payments)
Source: Botsman (2012) Welcome to the new reputation economy, Wired magazine 20 August 2012

27. Reputation transfer between verticals
“Paypals of trust”
Briiefly
Confido
Connect.Me
Kred
Legit
Reputate # social influence Klout
Scaffold PeerIndex
Tru.ly
TrustCloud
TrustRank
WhyTrusted
Source: Botsman (2012) Welcome to the new reputation economy, Wired magazine 20 August 2012

28. 10 Step reputation capital
1. Maven
2. Tagging
3. Super “something”
4. Portfolio of online value
5. Trusted opinions – LinkedIn
6. Deep social network
7. Review and recommend
8. Profile monetisation ( IMVU , Linden, Fbook credits)
9. Reputation cleanup (Reputation.com or Veribo)
10. Social capital
Source: Botsman (2012) Welcome to the new reputation economy, Wired magazine 20 August 2012

29. How much is reputation capital worth?
Good reputation activates reward related brain areas (striatum)
The merged image (fMRI) of
two images of the striatum
activated by monetary
(green) and social (purple)
rewards
Sources: Botsman (2012) Welcome to the new reputation economy, Wired magazine 20 August 2012
Neuron, Vol 58, 284-294, 24 April 2008
Processing of Social and Monetary Rewards in the Human Striatum
Keise Izuma,Daisuke N. Saito,and Norihiro Sadato
http://www.neuron.org/content/article/abstract?uid=PIIS0896627308002663

30. Student Entrepreneur
• An individual attending award classes at
university and conducting entrepreneurial
activities
– “dream merchants”
– yearning to do different things, contributing to the
world
– requires freedom to pursue an entrepreneurial
journey because their “talents will not be utilised
fully in any other capacity”.
(Marchand and Sood 2012)

31. Research Model:
Dual 7 Step Student Entrepreneur maturity model
Student entrepreneurs:
– commence entrepreneurial activities prior
university
– exhibit archetype entrepreneurial
behaviour
– exhibit same mental models whether they
lead a student association or a start-up
– learn differently when comparing with
student of classroom teaching
– are intrinsically driven by entrepreneurial
activities
– are on a quest to change the world
– are crucially impacted by serendipity in
their entrepreneurial journey
(Marchand and Sood 2012)

32. Key Finding - Serendipity is essential
"I knew before coming to
university that I wanted to "An executive from the
do something different, I "You make association addressed my
wanted to take advantage your luck class for volunteers"
of all opportunities" happen”
"You want
to be lucky,
"I randomly received an not right"
email for the Young
Australian Entrepreneurship "I found the idea of
competition event and my business while
decided to enter it" doing an assignment"
(Marchand and Sood 2012)

33. The largest funding platform for creative projects in the world
33

34. Caution!
“Children never put off till
tomorrow what will keep
them from going to bed
tonight”
ADVERTISING AGE
34