Transformational Global eBusiness via Social Media

20th Aug. 2016

HK PolyU

Dr. Bryan Wong, PhD LLM

eBusiness Entrepreneur www.drbryanwong.com

Transformational: 1. Demonetization

•Newspapers, IDD, SMS

•Maps, Torch, GPS, Camera…..

Transformational: 2. Anyone, Anywhere, Anytime

• No traditional constrain, e.g. factory, office, assets & employee

• Riding on mobile networking boom

• Apps & Social Media

• So suddenly

Transformational: 3. Sharing Economy

Transformational 4: Legal Uncertain•Unlawful?• illegal? •Not Yet legal?

Transformational: 5.

Global Matching for Common Interests• Before you want• Big Data• Tickets booked• VIP package planned

You

Business Model

Member

account

You

Member

account

Negotiated saving back to customer

Bulk Purchase

Advance booking

You

Member

account

Negotiated saving back to customer

Bulk Purchase

Advance booking

Your Friends

2012World’s Leading Travel Booking Site

2013 North America’s Leading Travel

Agency

World’s Leading Travel Club

2014 Africa’s Leading Travel Club

Europe’s Leading Travel Club

Asia’s Leading Online Travel Agency

Asia’s Leading Travel Club

United States’ Leading Travel Agency

North America’s Leading Travel Club

North America’s Leading Online Travel Agency

World’s Leading Travel Club

World’s Leading Online Travel Agency

2011 2012 2013 2014 2015 2016Revenue (USD)

$91M

#94

$143M

#75

$195M

#65

$352M

#47

$693M

#32

WORLDVENTURES

Source:www.directsellingnews.com

Revenue and Ranking by DSN

How can it happen?

Have you tried their services?

Sharing Economy vs Traditional Assets

Mobile Social Media do matter!

Source: Go-Globe

Mobile = OrgansSocial media =Un-detachable

Social Media, not just for Social

•3S: Social, Sharing, Sentimental

•Purposes….group buying, common interest

•User experience: Key Opinion Leaders (KOL)

But Never “Sellcial” Media

“Sellcial” media

•No interpersonal relationship

• Frequently repeated updates

• lengthy-words

• flooding photos

•price disclosed

•Brainwashing

• Sell by “Showing everything”

KOL

• Previously, like Pop-stars, Movie

stars

• Evangelism since Apostles age

• Good news messengers

• Words of Mouth

• Experience & Emotional

• Organic growth community

• Enjoyment of sharing, benefits…

Why it has to be real?

• “I also believe (in a social media world) that only sharing happy or successful stories gives a distorted and unbalanced view of real life.

• …..Professionally, as charismatic business leaders we share stories to educate, entertain and encourage people to go into battle alongside us, believe in us and even buy from us.” Andy Harrington

eBusiness via Social Media

Advantages:

• Real time, instant information

• Multi-channels, viral spreading

• Fast spreading, cross boundary

• Free $

• Reach out to unknown/potential customers, i.e. cold market

Changes of Advertising media

Traditional Advertising

• TV, Newspapers

• General, all age, gender, race, culture, religion, income, etc.

Social Media Targeted Advertising

• Pop-up window

• Sponsored videos

• Specific audiences

Social Media Soft Marketing

• Personal Post

• Local Real experience

• Global Followers

• Likes

Targeted ads on FB really aren’t so Targeted.

• Company spending US$ 8B in ads, 30% in online ads, saying that hyper targeting on FB did not prove as effective as the company thought it would be.

• “we targeted too much and went too narrow.” CMO P&G

Social Media vs Targeted Advertising

• Soft selling vs Explicit (pop-up windows adv, do you watch it?)

• Innovative vs Expected (No curiosity)

• “Don’t Let Them Realize What You Are Doing”

• Real neighborhood vs Celebrity (Who is more real?)

• Quality vs Price oriented

• Comment/Feedback/Feeling vs Slogan/ “madeup story”

Common sense is Not common !

•Poor example of personal brandingX No identity!

X Negative content

X Lazy & silly content

Successful Social Media Marketers are…

• Impressive personal branding

• Educational

• Story telling

• Image Director

•KOL

• Influential Entrepreneur

Impressive personal branding

Social Media is Ecosystems

• Middle class hungry for many WANTS

• Membership, Bulk Purchase, More bargaining power, Price decrease

• E.g. Travelling, Dining, Education & Signature Events

What’s NEXT?Sir Richard Branson said, ….

https://www.facebook.com/michael.sloggett.3/videos/10157176995845174/?__mref=message_bubble