04 03 2012 Web 2 0 internet services that foster collaboration and information sharing Peer production users collaboratively work to create content products and services Types of Social Media tools Blogs Long tail phenomenon Trackbacks links back to original blog post Blog rolls list of blogger s favorite sites Two way dialogue Immediate feedback Wikis Web site anyone can edit directly within a web browser What you see is what you get edition not as robust Can roll back a wiki to a prior page if someone accidentally deletes defaces page Wikimasters Neutral point of view o Aka troll Griefer internet vandal and mischief maker Social Networks Facebook LinkedIn Set up profile share content comment follow updates Viral controversial A new generation of Internet applications is enabling consumers to participate in creating content and services online Examples include Web 2 0 efforts such as social networks blogs Twitter and wikis as well as efforts such as Skype and BitTorrent which leverage the collective hardware of their user communities to provide a service These efforts have grown rapidly most with remarkably little investment in promotion Nearly all of these new efforts leverage network effects to add value and establish their dominance and viral marketing to build awareness and attract users Experts often argue whether Web 2 0 is something new or merely an extension of existing technologies but it s more important to appreciate the magnitude of the impact of the current generation of services Peer production and social media fall under the Web 2 0 umbrella Social media refers to content that is peer produced and shared online But peer production also includes services that are enabled when users collaborate examples include Skype and BitTorrent Many Web 2 0 services often leverage the wisdom of crowds to provide insight products or ideas that can be far more accurate or valuable than those provided by a smaller group of professionals Network effects play a leading role in enabling Web 2 0 firms Many of these services also rely on ad supported revenue models and open source software RSS really simple syndication method for sending broadcasting data to users who subscribe to a users who subscribe to a service s RSS feed Folksonomies keyword based classification systems created by user communities social tagging Mash up combinations of two or more technologies or data feeds into a single integrated tool XML tagging language used to identify data fields made available for use by other applications Global positioning system network of satellites and supporting technology used to identify a device s physical location generated imagery and data of an avatar Augmented reality computer applications that overlay real world images with computer Virtual worlds computer generated environment where users present themselves In the form Avatar online identity expressed by animated or cartoon figure Podcasts digital auto files served as a series of programs or multimedia blog Rich media content that is more complex than simple text RSS fosters the rapid sharing and scanning of information including updates from Web 2 0 services such as blogs wikis and social networks RSS feeds can be received via Web browsers e mail cell phones and special RSS readers Folksonomies allow users to collaboratively tag and curate online media making it easy for others to find useful content Since folksonomies are created by users themselves they are often more easily understood and embraced than classification schemes imposed by site owners Mash ups promote the useful combination of different Web services such as maps and other information feeds Mash up authors leverage technologies such as APIs and XML to combine seemingly unrelated data sources and services in new and novel ways Location based services are increasingly combining geolocated data with social media Users can now quickly see related social media surrounding an area even overlaying this data on top of maps and images through a phone s camera lens Sites like Foursquare are morphing into loyalty and customer rewards programs While users are largely in control of sharing location data some fear privacy and security issues from oversharing Virtual worlds allow users to interact with and within a computer generated alternate reality Internet media is increasingly becoming richer leveraging audio video and animation Organizations and users are creating and distributing rich media online with interesting content spreading virally Many Web 2 0 efforts allow firms to tap the wisdom of crowds identifying collective intelligence Prediction markets tap crowd opinion with results that are often more accurate than the most accurate expert forecasts and estimates Prediction markets are most accurate when tapping the wisdom of a diverse and variously skilled and experienced group and are least accurate when participants are highly similar Crowdsourcing tackles challenges through an open call to a broader community of potential problem solvers Examples include Goldcorp s discovering of optimal mining locations in land it already held Facebook s leverage of its users to create translations of the site for various international markets and Netflix s solicitation of improvements to its movie recommendation software Several firms run third party crowdsourcing forums among them InnoCentive for scientific R D TopCoder for programming tasks and Amazon s Mechanical Turk for general work SMART social media awareness and response team Customer conversations are happening and employees are using social media Even firms that aren t planning on creating a social media presence need to professionalize the social media function in their firm consider this a social media awareness and response team or SMART Social media is an interdisciplinary practice and the team should include professionals experienced in technology marketing PR customer service legal and human resources While the social media team provides guidance training and oversight and structures crisis response it s important to ensure that authentic experts engage on behalf of the firm Social media is a conversation and this isn t a job for the standard PR style corporate spokesperson Social media policies revolve around three Rs representation responsibility and respect Many firms have posted their policies online so it can be easy for a firm to assemble examples of best practice Firms must train employees and update
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