Net Prophet Conference: Summary of the day

Over 400 delegates attended yesterday’s full house conference hall in Cape Town, Pinelands for Netprophet. The speakers shared valuable insights in the Internet/Mobile business world. You can also use find reports on twitter.

They shared not only their insights and predictions but their experience & beliefs.

“1 Billion Clicks per day on the Internet”
“Cape Town is Africa’s next Silicon Valley”

Arthur GoldStruck – “I have never seen so many people at an Internet Conference before”

Salient Points:

• A digital revolution levels playing fields
• The Corporation regards ‘the digital guy’ as an Oddity
• Instead of a Digital Mascot, become a Digital Watchdog!
• Online Adspend/Media growth in SA is growing
• The IN Thing:

1. Mobile
2. Blogs
3. Video
4. Social Networks
5. Podcasts

• The future of money lies in smartcards
• In 2018 your phone will be your wallet

Peter Flynn - “All software will ultimately be web-based”

Things we remember:

• The Technology Adoption Lifecycle
• 5 C’s the VC’s monitor:

1. CMRR – Customer Monthly Recurring Revenue
2. CAC – Customer Acquisition Cost
3. CC – Customer Churn
4. CLV – Customer Lifetime Value
5. CG – Cash Generation

• Freemium:

1. Time Limit e.g. 30 days free trial
2. Feature Limit
3. Seat Limit
4. Customer Type Limit

• You don’t have to know how you going to monetize your startup – critical mass first – build the Community
• Think Mandarin!

Herman Heunis – “Just when you think life’s a BITCH, it has puppies”

Message from the Matie:

• Mxit is looking for Software Developers and Entrepreneurs
• If you cannot compete , create a new Category
• Viral Training helped Mxit – not only Viral Marketing
• Never be complacent, for users adapting & accepting a new technology is no big deal
• User Satisfaction does not equal Brand Loyalty
• Youth does not have time so do not make it too complex
• No one knows…they just predict…and some are better than others

Henk Kleynhans – “Only become a VC until the shit is kicked out of you”

• Short and sweet & eye pleasing presentation
• Guy Kawasaki’s VC Aptitude Test is a great Mind Opener

Dave Duarte – “Industrial Economy vs. Attention Economy – prevalence vs. relevance!”

• Can anyone help? Presentations will be available online next week. Great info shared by Dave, pity I missed it. Follow Dave via Twitter and ask him to leak his presentation?

Mike Stopforth – “Code is a Commodity, Community is Priceless”

We will never forget:

• Community gives Code value
• Innovation is not about coming up with new ideas, it’s about executing it much better
• Community participation is essential – make them believe that they co-own your product
• Community is not an overnight success – it’s a 5 day cricket game
• Consumers need to play by the rules even though they (Community) have the Power & Own the brand

Hannes van Rensburg – “Being an Entrepreneur is not about making money; it’s about living your passion & dreams. It’s a about seeing something that no one else can see.”

• There are more cellphone users than pc & radios combined.
• 4 Billion Mobile Subscribers
• Important ARPU – Average Revenue Per User
• Africa & Middle East is the fastest growing cellphone market in the world
• Credit Cards = Pull Payments… future is Pushing Payments via Mobile Banking

Andrew Smith – “Importing is like sex, difficult for the first time, thereafter it becomes easier”

Charl Norman – “Content = Traffic = Revenue”

Charl’s suggested tools/websites:

• Zoopedup.com
• Blueworld.co.za
• Google/Alerts
• Google/Analytics
• Google/Trends
• Google/Reader
• Google/Adsense
• Brandseye
• Clickheat
• Mofuse
• Mobilepress
• Muti
• WASA
• Blogs.mu
• Reviewme

Follow them all: @art2gee , @pete_flynn , @sqroot , @hermanheunis , @geekrebel , @rensburg , @daveduarte , @mikestopforth , @zoopedup

Follow us: @startupafrica

Follow me: @khalilaleker

Follow Ismail: @ismail

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