Crowdstorming: The Karmaback Value Proposition

Okay engineer-type thinkers, it is time for a pop quiz.  We are crowdstorming today… that is as a crowd, brainstorming.  So, what is the value proposition of a tool like Karmaback, and how much should we charge?  Post your replies here.  Below are the “features” of Karmaback and the “benefits” as I see them…  now the question is, what is the concise value proposition, and what is it worth?

Karmaback for Members (people who sign up and participate… e.g. everybody and anybody)
Features:
* Get to earn points for liking & sharing cool products & stuff.
* Get to spend points on prizes, discounts, and specials.
Benefits:
* Prizes, discounts, and specials, and stuff.
* Get to share feedback with Partner companies about products & stuff.
* Get to be ‘heard’ and their opinion counts and matters.

Karmaback for Partners (companies who choose to work with Karmaback)
Features:
* Get to put the like-it-flow on their websites.
* Get Karmaback members to post to their Facebook pages from the like-it-flow.
* Get to run Sweepstakes, Discounts, and Specials via Karmaback.com
* Get to post Sweepstakes/etc. in Facebook & Twitter.
* Can make Viral posts on Facebook & Twitter (that reward Members for “re-sharing” the posts).
Benefits:
* Get the word out about the products people like.
* Get feedback from users.
* Convert “visitors” into “fans”
* Convert “fans” into “evangelists”
* Convert “members” into “buyers”

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2 thoughts on “Crowdstorming: The Karmaback Value Proposition”

  1. Since the value of Karmaback will increase as participation grows, it will be important to consider the value to both early adopters and mainstream participants. As a possible partner considering Karmaback in the early phase, I am counting on a highly efficient (i.e. I only pay as endorsements are made), turn-key network for running a product specific promotion. Monthly or annual fees for partners in the early phase would be a deterent.

    – Scot

  2. Thanks Scot, I agree early phase pricing will differ from later on in our life-cycle.

    The Value then would be "per endorsement"… I like that idea!

    Here are some quick stats about our endorsements:
    50%+ of website visitors interact with the like-it-flow.
    10%+ are making endorsements on facebook (COOL!)
    25%+ of people are making endorsements from within Fanpages.

    So far that means literally tens-of-thousands of endorsements per month…

    Very interesting way to price it.

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