Is Web 2.0 Real?
- 1. Is Web 2.0 Real? Ken Carroll
- 2. www.ChinesePod.com 5 million downloads 188 countries Thousands of subscribers No advertising In-house PR No marketing/sales department
- 3. The Post-Network Economy Web as platform Commoditized infrastructure Enables: E-commerce, search, market research, community building, online banking/payments, ppc advertising Uncontrolled : ‘Democratization’ as natural equilibrium Emergence of Web 2.0
- 4. What is Web 2.0? ‘ Read/write web’ - From publishing to participation, collaboration - Wikipedia, EBay, Craigslist, Myspace, Youtube, Flickr, Google Harnessing collective intelligence – ‘Wisdom of the crowd’ - Google smarter with every click New tools – All about communication
- 5. Web 2.0 economics Low cost of starting/running a business New marketing strategies - Niche, not mass market Competitiveness : Fast, lightweight, flexible Capital efficient : 15 X cheaper Less funding - Retain equity Golden Age of entrepreneurship?
- 6. What is ChinesePod? Business model – Split service - ‘On ramp’ Vision: ‘Make it easy’, on-demand, fit users’ lifestyle Ethos : Responsiveness, shared ownership Tech : ‘Plumbing’, user experience
- 7. Web 2.0 tools and ChinesePod Podcasting : ‘Economics of free’ RSS as advertising channel Blog : PR, market research, personalization, branding, traffic, pre-empt problems Feedback loop : User-led/relevant, product development
- 8. New efficiencies Advertising/PR Customer education/after sales feedback Product development HR
- 9. Competitive advantage New value chain Removes friction Responsiveness, relevance ‘ Community’ creates a moat : ‘Network effect’ Leadership, new categories: Turn the rest into followers Unsettle incumbents
- 10. The bad news Low barriers will lead to oversupply Requires relinquishing control Advertising models are tough Lower valuations ‘ Economics of free’ require massive scale economies .
- 11. Do Create value (for the customer!) – improve lives Find a cause – a sense of purpose – make meaning Move now – release early and often - ‘permanent beta’ Keep it simple Obsess feedback – the right feedback Stand out – Seth Godin’s ‘Purple Cow’ – remarkable beats perfect Determination beats smarts Do not play it safe : being able to take risks is everything Do things for revenue reasons , not for ‘strategic’ reasons Bootstrap – even after Series A
- 12. ‘ Entrepreneurial literacy’ in the Web 2.0 era John Batelle's 'Search' Technorati Youtube/Myspace Community – ‘Sharing economy’ Network effect Flckr ‘ Attention economy’ ‘ Unbundling’/’Microchunking’ Digg ‘ Tagging’