Social Money – The Elephant in the Room

Posted by PartyWeDo on Friday, September 18, 2009

We have all heard the expression “The Elephant in the Room”. It is used to illustrate something big that shouldn’t go unnoticed, but yet is mostly ignored.

I got the CASH right here!

I got the CASH right here!

When discussing the monetization of social media, we can say that a sustainable business model is… the Elephant in the Room.

Soon, a new elephant will march out of the jungle and onto the pages of Facebook… And this social pachyderm is fully monetized!

AlbinoPhant, the white elephant gift party, uses a traditional party game, along with Facebook, Amazon and PayPal, to make money. What makes AlbinoPhant unique is that this application pulls its own weight without the need to fight for shrinking advertising budgets, like other social properties.

Here is the way it works: People buy gifts for use in the gift exchange, using eCommerce. Then they share the gifts with family and friends in the virtual atmosphere of a white elephant gift exchange, on a special playing page. When the party is over, the gifts they claim in the party arrive at their doorstep, using established shipping companies. This makes AlbinoPhant a gift merchant on Facebook.

You are probably scratching your head to figure out how you can play online with real gifts, without everyone being in the same place at the same time. Well, AlbinoPhant only uses the image of the gift that you have identified and purchased for the party. This allows for all party guests to virtually wrap a gift, participate in a virtual gift opening, then do some virtual gift stealing, and finally claim ownership of a gift from the party activity.

AlbinoPhant manages the party, provides the gift markets to shop within, and makes sure all the right gifts get delivered to the right addresses after the swap. Party attendees pay for a gift, the delivery costs and the fun, all at a flat fee,  selected in advance by the party host.

Hosts use the Facebook invitation system to gather their friends for the party. They also select the spending level for the party, between $15 and $50 dollars. This host selection system provides a level playing field for everyone, and reduces the challenge created by “big spenders” or “cheapskates”, when it comes to gift sharing.

So, the Elephant in the Room for AlbinoPhant is fully visible and a very useful gift merchant for the developers of the party. Advertising revenues will eventually become the bonus income that will be earned as the application makes its mark in the social media jungle.

Categories: Online party thoughts Tags: , ,

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