Monday, May 30, 2011

Tech Talk - Alex North of Posse

A couple of Friday's ago we invited Alex North of Posse to come in to the Shoes of Prey office to present on Posse and what lessons we could take from their experiences to Shoes of Prey.

It was an excellent presentation and we had around 30 people come along. Following are my notes from what Alex shared with us:

Why does Posse exist?
- Fans looooove their favourite bands
- Reciprocity - fans love their bands and want to help their bands. Bands love their top fans and want to reward them
- Social proof - bands provide social proof for their fans and a community for them to be involved in
- Fans sell tickets for their favourite bands and earn a commission

Posse's next step
- Fans are motivated by things other than money eg. backstage passes, t-shirts, signed t-shirts etc.
- Posse is building a platform for bands to offer unique rewards like these, in exchange for completing challenges like selling a number of tickets, t-shirts etc.
- Alex saw at Google that people love numbers or getting feedback. Fans will have a score/number for their Posse which also ties to rewards
- This model can work beyond bands. Eg. fashion. Fans of fashion brands are passionate about fashion brands, and rewards like early access to new styles, involvement in design decisions etc. could help engage fans.
- Restaurants.

Before Posse
- Social commerce - comparison to group buying. Group buying is not necessarily sustainable for all businesses, rewarding passionate customers who refer other customers can be sustainable.

Posse are hiring.

Thanks again to Alex for coming in and presenting to us. I was particularly interested to hear about how Posse are utilising the game mechanics and point systems to reward their customers. It's something we've discussed quite a bit at Shoes of Prey before and provided some more food for thought.

We'll let you know when we've organised the next TechTalk.

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