Source : Strategy + Business
The short history of the Internet can be summed up in a few words: Attracting a crowd is relatively easy. Monetizing that crowd? Not so much.
So how can the vast number of popular websites monetize ?
The Economics of Social Apps is a new subject, very nicely analyzed by by Matt Anderson, Henning Hagen, and Gregor Harter for Strategy+Business.
According to them, Three elements of social apponomics are critical to success.
- The first is social media, to attract a sticky audience
- The second element, community-based marketing, is driven by keen insight into customer behavior on retailer-created social media sites.
Highly Customize your Campaigns to the specific needs of the community.
- Finally, tailored applications attract people by offering easy-to-use online environments that speak directly to individuals according to their interests and needs