If I… were to start an eCommerce Social Network
If I were to start ane-commerce social network I would focus on the trifecta of instant gratification, money and the power of influence. If I were to scoop up startups in town and make a mega social environment from them, I’d buy:
1. The Find http://www.thefind.com In full disclosure, I love The Find after @la_gringa and I worked on a project for them a couple years ago. The technology behind the product is amazing and they are a great, great group of talented people. But, the product lacks instinct, lacks instant gratification, lacks urgency, lacks influence. However, the sheer technological ability to find something you are looking for online or in a brick-and-mortar store is a direct arrow to the heart of a sale.
2. RetailMeNot http://www.retailmenot.com Retail Me Not is one of my favorite sites, maybe ever. I’m not a coupon kind of person (unless I have to be) and this site is less about old fashioned old lady mid-west coupon clippers and more about finding a deal. I almost never, ever buy a single thing online without looking at RetailMeNot to see if there is a coupon code. I have saved more money that I can ever imagine. They also have two key social elements: (a) they rely on their users to float good deals and (b) they give a success rate voted on by the community on the validity of a coupon code. RetailMeNot also has two other clever ditties: they have a toolbar that works about 40% of the time, but it’s got potential. They’ve also realized that working with brands instead of against them is key to their survival. I’ve seen coupons created just for RetailMeNot from large scale vendors. Smart business model. The downside to retail me not is that they leave the shopping to the individual, although there is a live community there.
3. Blippy http://www.blippy.comis Twitter for your purchases meets FourSquare. Now, I have to say, Blippy bowled me over. I love this product. In beta, the site is pretty buggy but still, the path is clear and I’m ready to zoom down it. Link your ecommerce accounts (from big ones like Amazon to smaller ones like Threadless). I love that I can see what trusted friends are buying. We all know that peer influence is the greatest influence in buying considerations. Blippy is going to have some challenges with privacy (what if I allow my Amazon purchases to be shown, wanting to share my book purchases, but forget to hide my spouse’s birthday gift bought on the same service?). But they’ve got it right with the power of peers.
In merging my three companies, I’d have a TheFind interface, with coupon codes appearing if available and social integration of people in my network that have purchased this item or others similar to it. I’d add in a bit of social responsibility too (stores that are donating to Haiti relief with your purchase, stores that take eScrip for schools, etc.). My little ecomm platform is a call to purchase, a peer influence and a bargain — three direct-to-buy data points we know top the list for purchasers.
Now, what would I call it?
Read More
Side Gigs
