The holy grail of social media is the conversion of conversational value into economic gains.
Marketers and advertisers are still “pushing” intrusive messages as the common means of propagating their offerings. Even when the data strongly suggest that these methods are inefficient and not considered “social” the massive spending on old methods continues. The holy grail of the next social paradigm shift will be finding innovation that can monetize interaction for all parties while enabling social engagement.
Has The Innovation Arrived?
Yesterday we discussed “Monetizing Facebook Fan Pages” and the new platform called Social Value Network with some interesting innovative functions and features that have promise for a market hungry for solutions. I recently interviewed the Executive Team of SVN and below is a summary of the Q&A which provides insights into the Social Value Network platform proposition.
Q. What are the core functions of your platform?
A. Our platform enables users to add real value to a custom branded debit card by simply pointing and clicking on relevant value such as discounts, rewards and economic activity. Our technology integrates all financial activity with social engagement thus providing suppliers and buyers with a seamless and productive method of monitoring and monetizing social engagement. The core functions include:
- Point and click functions for digital downloading of coupons onto a custom affinity card.
- Integrating reward points into individual cards which provide user “credits” for such things as “likes, sharing, saving” and anything community managers would like to reward users with.
- Point of sale integration of merchant and brand incentives for buyer purchases.
- Sharing of money, discounts and rewards between individual card holders.
- Full integration with online communities, blogs, fan pages and social media campaigns.
Q. What are the “social features” of your platform?
A. We consider sharing, saving and connecting as the primary features of our platform. Users can connect online with other community members and share relevant savings discovered or found from their online activity. A summary of the core features are:
- Custom branding of our platform for specific affinity groups and communities.
- Integrated mobile communications for users to share value gained with others.
- Reward and discount incentives integrated with off line behavior and places of interest as well as frequency of visits.
- Full online integration so users can see what value has been added to their card and how many points are accumulated for relevant rewards.
- Merchant and brand access to real-time analysis of coupons and rewards redeemed by user demographics and social activities.
Q. What is the value for brands, merchants, consumers and marketers?
A. We designed the platform to increase user productivity relative to finding, capturing and using relevant discounts and rewards that match their lifestyles and interest.
We designed the platform so brands, merchants and advertisers could integrate their offerings into user’s social activity without being intrusive. Instead of “pushing intrusive messages and offerings” we’ve simply made it easier for users to find brand and merchant offerings that match their social activity and profiles of interest. The value is simple. Match buyer’s interest with seller propositions and provide integration of the value into a unique card platform with point and click functionality.
Q. What are the cost for brands, merchants, consumers and marketers to use your platform?
A. Our objective is to provide the solution to consumers for free.
Our objectives for brands and merchants is to provide an alternative lower cost method of reaching relevant buyers without intruding on individuals social activity. By providing an innovative way to integrate offerings that match buyer’s interest we increase the productivity in adoption and relevancy to buyers interest.
Traditional reward cards and related platforms are inefficient as are the current means for buyers to find and redeem merchants and brand offerings. Our aim was to provide a much more efficient and effective way for buyers to interact with the marketplace and for the marketplace to interact with buyers.
Q. Do you have any examples of organizations using your platform today?
A. We’ve been using our platform to reduce the cost of administering payroll for large organizations for the last nine years. Our Social Value Network has been used to take out the traditional friction of administering payroll via paper and mail. Now organizations can simply load employee payroll to an employee’s card at the click of a mouse and access all related payroll vouchers online.
We are excited to bring the same innovation to the social space and are launching numerous large branded community card programs starting in January 2011. We hope to create a revolution in social engagements and solve the social media ROI problem once and for all.
For more information please visit Social Value Network here.