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CSUSM MIS 304 - Social Networking in Today's Business Environment

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Slide 1Slide 2Slide 3Slide 4Slide 5Slide 6Slide 7Slide 8Slide 9Slide 10Slide 11Slide 12Slide 13Slide 14Slide 15Slide 16Slide 17Slide 18Slide 19Slide 20Slide 21Slide 22Slide 23Slide 24Slide 25Slide 26Slide 27Slide 28Slide 29Slide 30Slide 31Slide 32Slide 33Slide 34Slide 35Slide 36Slide 37Social Networking in Today's Business EnvironmentMIS 304Dr. Fang 4/27/09James OlasJordan PepperPatrick FaheyLance JohnsonClarke LedgerOverview•Basics•How they work•Business ValueMySpace•FaceBook rate of growth is higher •Goal is profitability not greatest number of users.•Focusing on music and advertisingMySpace Music•Vehicle for Amazon•Merchandise and Ticket sales•MySpace Music PlayerAdvertisements•Google•Time spent on MySpace vs. FaceBook•“Hyper-Targeted” ads•Sponsored PagesOutlook•Road to profitability will be tricky•Executives heads on the chopping block•Will MySpace be able to standout among the rest?•About Friendster•How it works•Business Value•Where they're goingThe Creator of Social Networking•Privately owned•First Social Network site.•Founded in 2002 by Jonathan Abrams.•90 million registered users + 62 million unique users.•Focus – Help people meet new friends and to stay in touch with old ones. Share online content and mediaoDating, New Events, Bands, Hobbies, videos, messaging, and moreWhat is Friendster?•Program founded to create a safer more effective environment for meeting new people by browsing and connecting to friends, and friends of friends.oAllows members to expand their network at a much higher pace than that of face-to-face.oSystem OfferingsFan ProfilesMobile and text alertsDiverse language selectionFriendster Developer ProgramPatentsHow Friendster Works•User can navigate through the site to:oPost Bulletins- (4000 characters max)oUpload photosoPost Shout outs- (250 characters max)oBecome a fanoUse provided APPS.oTalk to other friendsWhy is it Friendster different?•Friendster is rated as the # 1 Social Network for “user engagement” among the top 5 global Social Networks.oFastest growing SN in Asian countries.oAverage user spends 200+ minutes per visitor per month.oLaunched all language support on a single domain.oFirst global online SN to support Asian and other languages on a single domain so users around the world can talk to each other.Friendster for Business•Post Products (E-business)oAdvertise through APPS (Rock You)•Blog•Business Forum’soFinanceoReal EstateoEconomyoGeneralGrowth in Asia•23% of an average users friends are located in different countries.•Friendster is seen as an entertainment site by China’s government officials•Huge growth in Asian countries•Leads competitors by at least a 2:1 margin•Market is still growing“Giving people the power to share and make the world more open and connected.”Founded•Social networking site•Started in February 2004 by three Harvard students•Strictly for networking around Harvard•Expanded to other Ivy League Schools two months laterWhat can you do?•Share personal and professional interests with people•Create a profile oBiographyoPicturesoVideosoMessages•Look at friends profilesMore…..•Interactive Chat•Bumper stickers•Applications oMind Jolt oRecord a videoo1000s of othersBreakdownAdvertising•Apple•Movie Companies•Many othersWhere Relationships MatterAbout LinkedIn•39 Million Users•Launched In 2003•Made up of business contacts•"Professionals"What Makes LinkedIn Different•For networking with personal & business contacts•The site is used for job hunting•Businesses can use the site for data gathering•Many executives use the site for business purposesBusiness Uses of LinkedIn•Human ResourcesoHiringoReferencing•AdvertisingoTo professionalsoTo job huntersoAs a small business•Getting business questions answered by current professionalsoLinkedIn Answers•Polling current professionals in a certain areao60% of LinkedIn users respond to surveysTwitter•Different kind of social networking•Social networking, news, business use •Similar to blog•Instant updates •Rapid growth o2008: users < 1Mo2009: users > 6MHow it Works•Updates = Tweets•Max characters in a tweet = 140oDesigned to read posts on cell phones •Followers - get updates from people being followed•Search Function - find people or tweetsExample of a Tweet (45 characters)Business Uses•MarketingoCreate presence on TwitteroPost news about company (PR)oAdvertise productsoPost special dealsoInteractCreating a Presence (link to web site)Post News + Interaction = good PRPosting DealsLink from TwitterStrategies•Tweets are short, so make posts meaningful•Post links to website•Consider which words to useoKeywords searchable by search engines including Twitter Search•Include pictures using TwitPic•For video include a link to YouTube•Hire Social Networking San DiegooJustin FrenchSocial Networking San DiegoMore Strategies•Use correct spelling and grammar•Be transparent, don't be fake•Don't focus solely on advertising•Follow others and interact (Starbucks example)Uses•Twitter may have ads on site•Twitter may sell data on users to businesses•"- I have connected to a lot of people that I either never met or never would have met if it wasn't for Twitter.- I have engaged directly with people that I otherwise would not have had a chance to speak to. Forget 6 degrees of separation, Twitter creates a universe of 1 degree of separation or less.- Because of one of my Twitter contacts I am now the owner of a horse (with another one to follow). yes, that's right, a real life, non-virtual benefit!...- Twitter has made me aware of breaking news long before the traditional media has caught on.- Twitter DM's [direct messages] have taken over from email as my preferred method of contacting (or pinging) a contact. Replies are much faster.- And off course I have taken part or followed lots & lots of excellent discussions or exchanges of opinion on Twitter. " (http://wimaxxed.blogspot.com/ 2009)Conclusion•Web 2.0 = marketing use of social networking sites•New way to market•Business model is continually changing•Six degrees of


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CSUSM MIS 304 - Social Networking in Today's Business Environment

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