Monetizing Social Media: The Win-Win Solution to the Revenue Dilemma
Recap: Credit Card institutions are under siege, from political and regulatory quarters, to reduce the fees they charge to merchants when consumers use debit cards. Many of the credit card institutions are positioning to recoup lost revenue through additional consumer fees for the use of debit cards – increasing these same external pressures.
Strategic Solution: Less of the Same: Implement a solution that provides high value added to both merchants and consumers that is NOT fee or rate based and so is NOT subject to these intense external pressures.
The image below illustrates some of these key related issues facing credit card institutions, their merchant and manufacturing partners and their consumer customers.
What Challenges Commercial Companies Today: Optimizing Their Consumer and Channel Portfolio: the acceleration in the growth of end consumer buying behavior segments and the massive growth in global manufacturing and distribution competition and co-opetition has made it increasingly difficult and risky for commercial companies to dynamically determine their optimal portfolio of products and services, customers and ecosystem partners.
What Frustrates Consumers Today: Proliferation of Choices: the single greatest challenge facing consumers today is the overwhelming array of choices of products and services, retailer and etailer sources and increasingly coupons and deals. The sheer volume of descriptive information is staggering – yet there is virtually nothing available that helps consumers DECIDE what is best for them.
The image below provides an overview of a solution that would provide all three sets of interested parties with a high value adding solution.
What Would Commercial Companies Value: a service that provides them with explicit real time RECOMMENDATIONS of those products and services, consumer and ecosystem partner segments that take optimal advantage of their competitive strengths and minimize their competitive weaknesses.
What Would Consumers Value: a service that provides them with explicit real time RECOMMENDATIONS based on those product/service/distribution/terms that best fit their specific needs.
The Unified Field Solution: All of the above goals can be achieved through the innovative use of quantified consumer social media data, embedded into intelligent decision support modules, and sold in a SAAS fashion by Financial Institutions to their customers.
Future topics will include:
Approaches for coupon companies to generate additional revenue sources using social media data.
a. Offer coupon company subscribers tangible custom recommendations about specific products and services.
b. Convert quantified buying experiences of coupon company subscribers into new revenue sources.
For more details on this innovative solution, please contact applez2applez by e-mail at firstname.lastname@example.org or follow us on twitter Follow @henrych1