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Entrepreneur Track


Jane Hoffer founder of Ohanarama established connections with mom bloggers prior to launch of her product. The bloggers who Jane developed a relationship with helped her decide to change their name to Ohanarama. Celeb endorsements are awesome but hard to get and social media is another way to reach out to a lot of consumers if you do not have a celeb endorsement. Reaching out to mom bloggers and building a following on Twitter and Facebook helped expend their outreach. Now the next step is convert the users to revenue

Interact App:

This app helps match people meet based on their location and compatibility. Through mutual friends on Facebook and similar likes it will match you up with people who are around you. A natural system of checks and balances occurs on Facebook. Interact has built in privacy features and allows you to tell the app your focus using the app. Currently has 400 users needs an Android version to open up to larger market. Interact app goal is to connect you with people who you do not know but people who can help you with your business or career. When you create an app or something that needs people to sign up ask only what you need nothing more. This can deter customers and new users. Simplicity is essential in creating a friendly user experience.
Business Models:
Now that you have a product how do you make money off it. Freemium is a free style service. Most social sites default to this cause its easy Mike Krupit says. Subscription model is pay per month. Virtual goods and currency is an interesting model used by many gaming sites. The user buys credits, points or upgrades for real money and then uses the virtual currency in the game. The most common way to generate revenue is advertising. Customers pay nothing but companies need to get themselves sponsored. Affiliate makes money by driving traffic to another’s company. Data mining model makes money by selling the data you collect conducting business. Hybrid which can be found in most businesses it is a combination of 2 or more of the models above. Do you want to get big quick or do you want to be in it for the long run and take the last man standing method.
Integrating social media into your company or product is important. Social media can help to market your product at a low cost. Single sign on can be beneficial to both the user and the company. Single sign on makes it easy for users and companies can easily access your information on your social media profile. Widgets encourage users to sign up. Companies can use these widgets to promote their website. For example the like button; how many likes does a company or product have on Facebook? Widgets make this information available on companies websites and on product page. Widgets make it very easy to integrate social media on your website it is quick and simple. Using APIs can make it easier for your customers. Example is creating an app on Facebook. This is an easy way to by pass creating an all new social media site. By creating an app using Facebook API the app created can access your Facebook information.

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