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6 Technology Trends That Will Change How You Work in 2010

Max Klausner | SmallBizLink

January 14, 2010

Social Spending

The privacy barrier continues to erode as our daily lives become more and more transparent. The next phases of our daily lives to become available for entertainment and sharing will be our spending and purchase habits.

Why would you share your purchases decisions with the world?

Well, do you like telling your friends when you saw a good movie or bought a great new outfit? Sharing your transactions — like sharing tweets — is the next step in crafting your online identity.

If this sounds far-fetched, think again., a new startup in private beta, is revving up to become the Twitter of credit card and online transactions. The premise simply, “What are your friends buying?”
The Big Deal The sharing of spending habits will lead to more in-depth market research and targeted advertising. Every purchase from your business becomes broadcast to your customer’s social circle, which creates the awareness of your product or service. That being said, so does every other brand and competitor, leading to increased transparency in pricing and customer experience. Companies with good customer service, low pricing or innovative products, no matter how small, will have the chance to exploit the crowd effect and gain market share.

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