Let’s get started. Again.

Finding The Happy Medium

With a little over a year under my belt working with companies to figure out better ways to transact globally, it feels like the right time to start blogging again. There are so many points of intersection where social, big data, local, and payments can change the way that we think about international commerce.

Most of my daily conversations revolve around payments, so I recognize that this is going to influence my posts moving forward. But as the initial hype around each of these topics dissipates and becomes a part of “normal” eCommerce fundamentals, the truly innovative companies will be those that can utilize a combination of three or all four of these areas to provide truly compelling solutions. And ultimately, converting interest into revenue is heavily influenced by effective payment strategies. So these posts will be less about innovative companies who are simply doing cool stuff, but rather innovative companies who can effectively make money for themselves or others.

Rather than throw it all into one big post, I’m going to get my blogging juices flowing by setting the stage. Here’s how I see the major topics from a high level. I’ll get it into it more over the next few weeks, but just wanted to have some space to e-whiteboard it all.

Social
A customer’s personal and professional network that sits behind your web presence or provides a way to connect directly with your customer

Big Data
A way to make sense of all of the data that is floating around in the ether or behind your company’s walls

Local
Knowing where in the world your customers are physically located and providing relevant content based on that information. – This includes mobile, but let’s be honest, it’s all going to be mobile pretty soon

Payments
Providing a simple way for your customers to pay you for your product or service

Social + Big Data
Taking all of the things that people are having conversations with their friends and followers, and then analyzing it to put together strategies that can drive your business

Social + Local
Letting people know that they are physically close to other people in their networks

Social + Payments
Social commerce works because we like buying what other people buy, and ultimately we trust each other

Big Data + Local
Tons of data becomes a lot more useful when you can pinpoint where in the world it’s coming from

Big Data + Payments
Take all of the transactions that pass through your gates and figure out what patterns and insights emerge

Local + Payments
Figure out where your customers are physically and make it easier to make purchases

Social + Big Data + Local
Who + What + Where. Add it all together and you have a ton of information to drive more relevant options back to your customer

Social + Big Data + Payments
Match up social profiles and conversations with transaction data to combine consumption patterns with demographics and opinions

Social + Local + Payments
People like buying what other people buy, especially when those people live closer and like similar things

Big Data + Local + Payments
Understand what people buy and where they buy to sell more effectively

Social + Big Data + Local + Payments
Know where people are, who they are friends with, what they buy and what they talk about, and you can provide compelling products and services that will keep the interest of your customers and optimize the way you sell to them

There are already a bunch of entrepreneurs who have figured it out and are out building these companies. Lots more ideas left to execute on. I look forward to hearing your thoughts on how I can improve on this framework, and hearing more about your companies as well.

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Filed under Big Data, Local, Mobile, Payments, Social