nuji presentation2
DESCRIPTION
Dean Fankhauser's presentation on Nuji, his social commerce start-up for April's And Then The World Presents...TRANSCRIPT
WHAT DOYOUWANT?
Monday, 25 April 2011
Word of mouth is back with vengeance!
Monday, 25 April 2011
We’re building platforms for it to work like never before
Monday, 25 April 2011
What is Nuji?
Monday, 25 April 2011
Instapaper / Instagram for shopping
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It’s revolutionizing commerce and in particular…
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Discovery Selling
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Discovery
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Follow people with similar taste
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Re-tag items you like
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It becomes a network effect for products
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Selling
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Targeting Supply management
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Targeting
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We know exactly who, wants what
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Thanks to platforms like Nuji, we have 100% accuracy
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Supply management
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Sell excess stock, retain brand value
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Retailers will soon be able to do the same thing
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Clear stock at a click of a button
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How do you create a network effect for products?
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Start with emotionally appealing products
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Turn aspirational into accessible
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Create a game mechanic to give it a push
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Re-tag points
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CTR ?
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CTR 65%
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Our usage is abnormally high
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Great social networks are portals of narcissism
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Other lessons learned
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Utility without network
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FOMO
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Fear Of Missing Out
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Don’t want to miss out on the next cool product
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Don’t want to miss out on the next great deal
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Not just users, also retailers
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Is Facebook the answer to social commerce?
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College friends don’t
a) Necessarily have the same taste
b) Go to Facebook for shopping needs
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There isn’t one social network for everything.
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Shopping
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Points to remember
Social commerce is just starting
Yet to be defined network
This is solving some of the hardest commerce problems in last 70 years
People share product advice, how do we make it natural online?
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We’re going into a new era of commerce
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We’re looking forward to help shape this disruption
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Online www.nuji.com iPhone nuji.co/trynuji Follow us @nuji
Monday, 25 April 2011