Category: Social networks

Social Lending, Social networks

"There is no demand for messages" | Doc Searls

Colin Henderson

 Every once in a while Doc comes up with memorable statement and this is the best one for a while.  THERE IS NO DEMAND FOR MESSAGES Let me see a show of hands: who here wants a message? Right: none. And who wants to shield themselves from messages they don’t want? Exactly: everybody. TV advertising has negative demand. It subtracts value. Source: The Doc Searls Weblog : Sunday, December 17, 2006 This ties nicely to Shel’s overview for his new book. …..  It explains why power is shifting from large organizations into self-organizing communities and why businesses and public officials … Continue reading "There is no demand for messages" | Doc Searls

Social networks2 Comments

Do you know which of your customers are brand advocates?

Colin Henderson

 This report from Yahoo! and ComScore Networks is simple and intuitive,  and points to a potential strategic leverage point for Banks. The Internet has significantly impacted how consumers talk about and recommend brands. Word of mouth — a trusted source of information — is amplified online to reach significantly larger audiences. “Brand Advocates” have emerged online as primary influencers, with at least a two to one rate of converting an actual friend or family member to buy the same product or brand. Brand Advocates are incredibly valuable to marketers because they are better connected consumers with a larger sphere of … Continue reading Do you know which of your customers are brand advocates?

Social Lending, Social networks

Prosper releases new API tools

Colin Henderson

 Thanks to David for pointing out this new feature at Prosper.  These API’s provide download of detailed data on statistical information at the site.  This is a very positive thing, and will encourage Groups as well as external sites to provide value added analysis.  Build graphs and trends of listing rates Use bidding patterns to determine the best lending strategies Compare groups using your own research # Create a loan portfolio analysis tool Monitor changes to the marketplace over time Explore our dynamic marketplace offline using your own tools Source: Tools – Prosper While this sounds technical, in reality it … Continue reading Prosper releases new API tools

P2P Lending, Social networks7 Comments

Prosper loan analysis suggests importance of qualitative assessment – people matter!

Colin Henderson

I have been thinking and listening about P2P/ social lending, and wondering exactly what is the outcome and to relate that to traditional banking. I took the first seven loans from Prosper tonight, and here they are. I re-sorted them based on the rate column. The rates mapped to the credit scores. The better the credit grade, the better the rate. (I have to research what HR means, so I ignored that as an outlier) Then I sorted by Debt to Income … I expected to see the number of bids relate to this one based on lenders reducing their … Continue reading Prosper loan analysis suggests importance of qualitative assessment – people matter!

P2P Lending, Social Lending, Social networks

Could P2P lending have the perfect opportunity in Australia?

Colin Henderson

In response to Charis post, I would be more inclined to think that the credit bureau system down under precisely supports P2P lending, particularly with the Prosper model. Prosper is in essence eBay for loans, so its focussed on the reputational value of members, and the community advice, groups etc to ensure loans losses are minimised. Lack of adequate Bureau reporting would provide an additional competitive advantage P2P lending. This might be a hindrance for Zopa, who take on the risk assessment on behalf of their members. Lack of positive information, would require them to rethink their approach used in … Continue reading Could P2P lending have the perfect opportunity in Australia?

Innovation, Social networks3 Comments

Prosper – "Libertarian Paternalism" – eBay for loans

Colin Henderson

 This is easily the best article I have read about Prosper.  They have interviewed real borrowers and lenders in Prosper, and you can really get inside their model by reading it. Most loans are funded by dozens of lenders who bid $50 each, the minimum allowed. Prosper keeps a 1 percent loan-originating fee (a one-time $25 charge for a $1,000 loan), and bills the lender a 0.5 percent annual loan-servicing charge. Borrowers have three years to pay off the debt, with no penalty for pre-payment. Basically, Prosper is a peer-to-peer lending auction with a human element. Source: CSIndy: The loan … Continue reading Prosper – "Libertarian Paternalism" – eBay for loans

Social networks2 Comments

Got Hats? ChangeEverything.ca success story | ChangeEverything.ca

Colin Henderson

 ChangeEverything.ca (social site for VanCity Credit Union) are doing a great job at motivating people into community spirit. The organic growth is amazing, and its local … you can feel Vancouver spirit. Other members of the ChangeEverything.ca community have branched out with initiatives of their own. Grassmonkeyz is collecting items for the homeless to give away on Christmas day. While LocaMichelle is doing a drive for supplies to donate to local animal shelters. I am excited to be a part of ChangeEverything.ca, it felt so good to have the site as a tool to make Got Hats happen. I hope … Continue reading Got Hats? ChangeEverything.ca success story | ChangeEverything.ca

Social networks

Micro Persuasion: Edelman Debuts StoryCrafter Two-Way Press Release

Colin Henderson

This is a brilliantly simple new idea that any Bank could easily implement.  Few Banks (only one that I am aware of – BMO)  have implemented RSS feeds for their press releases, but Edelman go much further in redefining how releases ought to be used in the Web 2.0 world. It basically breaks down a press release into its core parts, leaving it up to you – the journalist (citizen or pro) – to decide how it should be put together. Most importantly, every press release gets feeds, tags, del.icio.us/digg buttons, trackbacks and comments. Source: Micro Persuasion: Edelman Debuts StoryCrafter … Continue reading Micro Persuasion: Edelman Debuts StoryCrafter Two-Way Press Release

Pinkomarketing, Social networks, US1 Comment

NYT | The Future of Web Ads Is in Britain

Colin Henderson

 This is a fascinating article, that leads to all kinds of thoughts about the future.  At first glance though it makes sense.  I look at Bank sites in the UK, and they look like Las Vegas, or Times Square with flashing lights, and huge billboards. ( Take a look …  Barclays, Lloyds, HBOS ).  Then look at the American equivalents, and you see a much more conservative view ( Bank of America, Wells Fargo, Citibank ) The article points out that online ad spending as a percentage of budget in the UK, is double that of the US. In the following year, … Continue reading NYT | The Future of Web Ads Is in Britain

Business Models, Social networks

Confused Of Calcutta | Great talent but not as we know it

Colin Henderson

Confused highlights an interesting book called Global Remix by Professor Richard Scase.  It aligns with the social network concept as firms adopt it.  He highlights a few paragraphs and click over there to read. Many parents have teenage and younger children who spend quite a lot of time in their bedrooms. They respond to parental commands through text messaging, e-mails and, occasionally, grunts. Parents with children of this kind should be congratulated for bringing up normal, well-adjusted youngsters. But they fear for their children’s futures. Will they ever be employable? ….. But, more than that, they will have to tolerate … Continue reading Confused Of Calcutta | Great talent but not as we know it