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Why is the social networks phenomenon relevant to business?

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  • 1. Doing better with less
    • Why is the social networks phenomenon relevant to business?

London,22 ndOctober 2003 2. Agenda

  • Context, purpose, objectives
  • Why is the social networks phenomenon relevant to business?
  • What does this mean for you?
  • Discussion, Q&A

3. The law firm group

  • History
  • Recently worked on
      • Metrotwin social utility
        • British Airways
        • Recommendation engine
      • Carphone Warehouse
        • Social, eCommerce strategy
  • Working on
      • User generated viral video
        • Food brand
      • Web syndication engine
        • Transactions in the long tail
        • Insurance industry

4. The Big Picture Arrival of the Network Economy 5. The Big Picture Hierarchy to Network

  • Open Source
      • Slime mould, Swarms & Emergent behaviour
      • Peer production proven to outperform conventional command & control organisation
      • SourceForge: 180k projects, 1.9m users
      • Yochai Benkler Linux and the nature of the firm
  • Open Source Census
      • Europe shows the highest usage with the United States lagging behind
      • US Law: Open Source mandated for IT healthcare systems
      • The rise of Ubuntu (& the fall of Microsoft?)

6. The Big Picture Social softwarechanges behaviour

  • The Social Software Revolution
      • 300m+ individuals in social networks and online communities (internet users just passed 1bn mark)
      • YouTube grew from 1 to 100 million users in 18 months; Google took 72 months
      • At December 2007, there were 50m virtual world users, led by Second Life with 11m
      • Facebook
        • More than 150 million active users
        • More than 800 million photos uploaded to the site each month
        • More than 20 million pieces of content (web links, news stories, blog posts, notes, photos, etc.) shared each month
        • More than 20 million active user groups exist on the site

7. The Big Picture Markets are conversations

  • The year of Twitter
      • 2000 new users per day
      • Approaching 5m users
      • Celebrity take up
        • Stephen Fry
        • Jonathan Ross
        • Comedians
        • Obama has the highest number of followers on Twitter
      • Serious business use
        • News gathering
        • Market intelligence
        • Product announcements
          • Dell, Ford, Kodak, Samsung, Starbucks
      • New ways of story telling
        • Japan
  • The year of monetizing data
      • Sentiment engines

8. So what? 9. So what? Classes of Business Benefit Intangible Tangible Source of contribution Customer Loyalty & Brand Awareness Direct Revenue Lower Operational Expense Comment Customer/Member profile Customer intelligence & extending market reach at low cost Advocacy/pass through revenue Sales channel for complimentary products/services Group Discounts Special offers to subscribers Affiliation Viral sales Member-Member commerce Packaging brand products to serve customer's own network Offline events Forms deeper relationships Competitive research Access to opinions using polls/surveys Product development & feedback Lower service development costs Peer-to-peer self-help Reduces contact centre traffic Membership Friends invitations.Member get member 10. How?

  • The implications of the end user supplying itself arefar reaching
  • Small pieces loosely joined
  • Simple, lightweight tools (doing better with less)
        • Mashups, widgets
        • Web 1.0 vs Web 2.0
          • 1.0 Centralised.People come to you (pull)
          • 2.0 De-centralised.Go to where people are (push)
        • Imaginative use of CloudWeb services
  • Smarter organisation
      • Re-use of excess capacity
      • Bioteams
        • Swarm behaviour
      • From Intranets to social networks

11. Network statistics

  • People have figured out they get far better information and support from one another than the companies that are supposed to serve them.

12. Discovery of unmet needs 13. Discuss, Q&A

  • LOreal Write a priceless ad
  • McDonalds Global Casting
  • Nokia Share your idea
  • Muji
  • make and send us an object for a place in your home we dont have a product for