Chapter 7 Social Media Peer Production and Web 2 0 7 1 Introduction Web 2 0 a term broadly referring to internet services that foster collaboration and information sharing different from static transaction oriented web 1 0 Social media efforts include blogs wikis social networks twitter and photo video sharing sites Peer production when users collaboratively work to create content products and services the participation of users provides the infrastructure and computational resources that enable the service Key Takeaways o 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 o 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 o 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 o 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 o 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 o 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 7 2 Blogs chronological order Blogs a medium for posting online diaries usually made in reverse Long tail refers to an extremely large selection of content or products phenomenon where firms can make money by offering a near limitless selection of products Trackbacks citation links back to original blog post Blog rolls a lit of a blogger s favorite sites a sort of shout out to blogging peers Immediate and unfiltered distribution of their ideas with no limits on page size word count or publication deadline immediate feedback from readers via comments Blogs can be public tucked behind a corporate firewall or password protected 3rd party blogging services google blogger wordpress tumblr posterous Value of any blog derives from a combination of technical and social features Key Takeaways o Blogs provide a rapid way to distribute ideas and information from one writer to many readers o Search engines social media sharing and trackbacks allow a blogger s community of readers to spread the word on interesting posts and help distinguish and reinforce the reputations of widely read blogs o The comments section in blogs can create a conversation to gather opinion vet ideas and brainstorm Public commentary can also apply pressure to correct inaccuracies and keep a blogger honest o Well known blogs can be powerfully influential acting as flashpoints on public opinion o Firms ignore influential bloggers at their peril but organizations should also be cautious about how they use and engage blogs and avoid flagrantly promotional or biased efforts o Top blogs have gained popularity valuations and profits that far exceed those of many leading traditional newspapers and leading blogs have begun to attract well known journalists away from print media o Senior executives from several industries use blogs for business purposes including marketing sharing ideas gathering feedback press response image shaping and reaching consumers directly without press filtering 7 3 Wikis Wiki a web site anyone can edit directly within a web browser What you see is what you get WYSIWYG a phrase used to describe graphic editing tools Roll back the ability to revert a wiki page to a prior version useful to restore earlier work in the event of an error inaccuracy or vandalism All changes are attributed so others can see who made a given edit A complete revision history is maintained so changes can be compared against prior versions and rolled back as needed There is automatic notification and monitoring of updates All the pages are searchable Specific wiki pages can be classified under an organized tagging scheme Wikimasters people employed by organizations to review community content in order to delete excessive posts move commentary to the best location and edit as necessary Griefers internet vandal and mischief maker aka troll Wikis used by Pixar Sony Neutral point of view NPOV an editoral style that is free of bias and opinion Key Takeaways o Wikis can be powerful tools for many to many content collaboration and can be ideal for creating resources that benefit from the input of many such as encyclopedia entries meeting agendas and project status documents o The greater the number of wiki users the more likely the information contained in the wiki will be accurate and grow in value o Wikis can be public or private o The availability of free or low cost wiki tools can create a knowledge clearinghouse on topics firms products and even individuals Organizations can seek to harness the collective intelligence wisdom of crowds of online communities The openness of wikis also acts as a mechanism for promoting organizational transparency and accountability 7 4 Social Networks Social networks an online community that allows users to establish a personal profile and communicate with others Viral information that spreads rapidly between users Detailed personal profiles affiliations with groups private messaging and Feeds are viral and controversial public discussions media sharing discovering fueling feeds of recent activity among members the ability to install and use 3rd party applications tailored to the service Sermo social network for physicians Key Takeaways o Electronic social networks help individuals maintain contacts discover and engage people with common interests share updates and organize as groups o Modern social networks are major messaging services supporting private one to one notes public postings and broadcast updates or feeds o Social networks also raise some of the strongest privacy concerns as status updates past
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