SOCIAL NETWORKINGAnthony Bonomi, Amber Heeg,

Elizabeth Newton, Bianca Robinson & Marzi Shabani

Social NetworkingSocial Network

A website where one connects with those sharing personal or professional interests, place of origin, education at a particular school, etcetera

Any website designed to allow multiple users 

to publish content themselves

Social NetworkingContent

Sites typically allow users to create a profile describing themselves and to exchange public or private messages

Content may be on any subject and may be for consumption by (potential) friends, mates, clients, customers, employers, or employees

Content may include text, images, video or any other media

Social NetworkingThe Beginning

Began as a generalized community to bring people together in order for them to interact with one another through chat rooms

Users were able to share personal information through their personal webpages that they created.

“User profiles” came about in the 1990’s 2002 Friendster became the start of the new

trend of social networking. A year later Myspace and LinkedIn came about, followed by Yelp and Facebook, which is now the largest social network site in the world, in 2004, and lastly Twitter in 2006.

Social NetworkingPopular Sites

Facebook: 500 million users. It is the largest social network. Users can “friend,” become a “fan” of, or “like” different profiles. Allows individuals and businesses to create pages with user-driven content. Text, pictures, video, messages are all part of the user interface.

Social NetworkingPopular Sites

Twitter: Allows for short “tweets” of 140 characters or less. Users can “follow” friends, businesses, and even celebrities.

Foursquare: Allows users to check-in to different locations. Allows friends to view where you are at. Allows businesses to post deals. This is a newer network and its business applications are just beginning to be tapped.

Social Networking

Popular Sites Yelp: Allows users to rate local and

national businesses. Users can also search and find businesses by city, type, and rankings. The reviews of restaurants and shops are helpful and show up near the top in most searches, including google and yahoo.

Social NetworkingBusinesses & Social

Networking : A match made in heaven

Businesses are just beginning to realize the value of social networks for reaching new and returning customers

Businesses must stay on top of new social networking trends and technologies to stay current and competitive

Social NetworkingBusiness strategies

Goals:

Create a cost effective and intriguing advertisement

Increase their profitability

Increase the number of their ads followers/fans

Capitalize on marketing opportunities

Social Networking

How to Gain Prominence Create a presence for their company on

the website Build relationships with potential new

clients or customers Helps build credibility and trust in the

eyes of their customers Target users who show interests relating

to the company’s products or services More than 500 million users on Facebook

= 500 million potential customers

Social NetworkingWays to Improve Sales

Customer can rate and leave feedback for each company—companies can adjust their approach based on these reviews

Ability to track how company is performing

Can target ideal consumers

Update profile, fan pages and advertisements regularly

Offer exclusive promotions and deals to followers/users

Social NetworkingMarketing Opportunities

Cost-effective ad campaigns Ability to reach friends of current

customers Ability to send instant updates Reach out to financial professionals and

high net worth investors MySpace and Facebook make up 72% of

the online advertising market Generate word-of-mouse hype

Social Networking

Invasion of User Privacy Information is stored and kept in cookies for

an infinite amount of time

Pictures and information posted by users are released to businesses

Advertisers use the information provided to profile potential customers

GPS-related data

Social Networking

No Spam and Malware Prevention Access to the computer system without the

owner's informed consent

In 2009, 50% of companies advertising on sites received spam through a social networking site, and 36%were hit by malware.

Growing population of users decreases the effectiveness of spam filters

Social Networking

Security Risks

Which social networking website do you think poses the most significant security risks?

Success Maximizing for business use include using

all available resources Coca-Cola and Chargers Facebook over all best interaction with

consumers Using multiple sites is key due to many

consumers not using every site Cost effective in its own way but is time

consuming

Social Networking

Conclusion

Social networks and businesses are a mutually beneficial relationship

As the technology makes the world smaller and information becomes faster and more accessible it will be important for businesses to evolve with it or be left behind

Social NetworkingSomething to Consider…

The way we connect to each other and the world is changing. Social networks are now part of our daily lives. The way businesses do business and connect to customers is changing too. Where will the future lead?

What will the world be like in 2020?