What holds more significance for Cyworld's worth: a user who is active, a user who spends a lot of money, or a user with a large network?
The most valuable user for Cyworld is one who both actively participates and spends significant real-world currency on virtual items. Such users not only benefit themselves but also motivate their connections to become more involved.
Think snowball effect. Cyworld can benefit greatly from these users in terms of revenue and marketing/network position.
What distinguishes Cyworld from Facebook or popular sites like Amazon.com or Youtube?
Facebook has acquired approximately three times the number of users that Cyworld has in the Asian markets. Facebook primarily focuses on users sharing information, including text and pictures, whereas Cyworld functions more like a platform based on virtual reality.
Cyworl
...d users utilize acorns, a virtual currency, to acquire virtual goods in their online realm. Unlike Facebook, Cyworld does not generate income through advertisements. It primarily caters to audiences in Asian nations. Conversely, platforms like Amazon and YouTube are not primarily centered around social media. Amazon functions as an e-commerce site that connects individuals with products rather than facilitating connections between users.
YouTube's expansion globally in different countries is due to the absence of stringent regulations on video content. Conversely, Amazon relies on user reviews; however, there is no connection between two users.
What business model should Cyworld adopt – paid items, mobile networking or advertising?
Cyworld should implement a hybrid business model that integrates mobile networking and advertising. By strategically targeting the mobile market, Cyworld will witness an upward
trend in user engagement on the platform. This enhanced engagement will result in increased acorn purchases.
Furthermore, by venturing into advertising space, Cyworld can tap into the growing business seen in other virtual markets like Facebook.
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