Keynote 3 by Archana Vohra, Panel 3: The colour of money – monetization & e-commerce

We have come back from lunch. For the third session Archana Vohra gave the key note session. She gave some important case studies as proof where social media has really worked wonders for the brand, for example the social media campaign for the movie “Once Upon a Time in Mumbai, which perhaps did better than the movie itself.

Panel Discussion: The colour of money – monetization & e-commerce

Panelist

Anurag Batra (Moderator),  CEO, exchange4media; Darpan Munjal, CTO, Kaplan Higher Education; Dmitry Shevelenko, Online Sales Launch Team, Facebook India; Jaspreet Bindra, Regional Director – Entertainment & Devices Division, Microsoft Corporation (India); Manish Vij, Co-founder & Chief Business Officer, Smile Interactive; Rishi Khiani, CEO, Times Internet Limited; Vishal Dhar, President – Marketing, iYogi Technical Services.

Manish Vij shares some of his learning from his efforts in the field of monetization of social media:

Your social media spaces cannot be only about fans and likes, the junta wants to also use your social media spaces as customer support spaces. So give that them. People mostly also like your brand so give them more content about you that they could like and share. Facebook is not the only way to do social media. Conversations have to go beyond digital.

Jaspreet Bindra now introducing concept of social commerce

Social media usage and the physical retailer – will the brick and mortar shops be benefitted?

Mostly they will not be, in the international scene also Amazon never sold anything in physical state. The physical retailer would therefore have to see e-commerce as an extension of their existence business. The key is to build product that people would want to talk about with a difference. The role of the social media campaign is not to tell the story of your product but to enable people tell your story.

Manish Vij points out that in India a different model of e-commerce would have to be made at work, it has to be a combination of digital and physical. Social is there to enable to commerce, to help people decide what to buy.

The panel tries to answer the question – what are the opportunities for entrepreneur rather than building Facebook applications? Dimitry Shevelenko suggests them to make interactive domains for better engagement, better payment options etc.