Social NetworkingAnd it’s Business Values

Group#1Tiffany woodburryMike BaumWang LiuLauren FeltonLisa CramolineRyan Terry

In the Beginning

There was Myspace. And it was good as far as personal communication goes.

But today.. In the Web 2.0 age or information sharing age, many different social networking sites exist.

Building Your Presence What does building your presence mean?

Basically it is creating a visual presence on the network in which you are utilizing.

Now not only individuals but businesses are utilizing these networks and finding value in “Building a presence” on social media sites.

Business Statistics

•29% of companies with 500 employees or less use social media

•38% of companies with 501-1000 employees

•44% of companies with 1001 employees or more

By Industry

• 57 % Leisure and hospitality

• 48% IT

• 43% Retail

• 41% Sales

But What Sites are they Using?LinkedInYelp!TwitterFacebookPlaxo

Yelp!•Yelp was founded in 2004 to help people find great local businesses like dentists, hair stylists and mechanics•As of August 2010, more than 38 million people visited Yelp in the past 30 days•Yelpers have written over 12 million local reviews, 83% of them rating a business 3 stars or higher•In addition to reviews, you can use Yelp to find events, special offers, lists and to talk with other Yelpers•Every business owner (or manager) can setup a free account to post offers, photos and message her customers

TwitterAn information networkTwitter is a real-time information network that connects you to the latest information about what you find interesting. Simply find the public streams you find most compelling and follow the conversations. Twitter for BusinessesTwitter connects businesses to customers in real-time. Businesses use Twitter to quickly share information with people interested in their products and services, gather real-time market intelligence and feedback, and build relationships with customers, partners and influential people. From brand lift, to CRM, to direct sales, Twitter offers businesses a chance to reach an engaged audience.

FacebookMillions of people use Facebook everyday to keep up with friends, upload an unlimited number of photos, share links and videos, and learn more about the people they meet.

Top 4 popular social networks

• Facebook: A connection with friends by sending private messages and comments on their wall, Big problem: Spam.

• Myspace: A niche ste for music industry, mostly used by younger group.

• Twitter: a growing site still, connect & reach large groups of people makes Twitter attractive from a marketing perspective.

• Linked in: a great business social networking site under new management.

Choosing the right network according to the individual or business networking objectives, and personal style as well.

Why Use Social Media in Businesses?

• Gain personal connection

•Access to larger number of people

•Understand consumers better

Social Networking as A Business Strategy

Career-Advancing Tools

LinkedInPlaxo

LinkedIn•LinkedIn has over 85 million members in over 200 countries.

•A new member joins LinkedIn approximately every second, and about half of our members are outside the U.S.•Executives from all Fortune 500 companies are LinkedIn members.

•LinkedIn has over 85 million members in over 200 countries.

•A new member joins LinkedIn approximately every second, and about half of our members are outside the U.S.

•Executives from all Fortune 500 companies are LinkedIn members.

"The number one way you find a job is through referral and LinkedIn isthe biggest referral network out there,"said Charlene Li, founder of

the research outfit Altimeter Group.USA Today, Bad news for workers is good news for LinkedIn

Cost Effective

Market Yourself

Social Networking sites are helping bring awareness:

•Products•Services•Consumers

Survey

•Local companies

•Global companies

•Questions relating to the effectiveness

Results

•Use 2-3 years

•Most popular Facebook, Twitter, LinkedIn ▫Foursquare

•Facebook: easy to use and large network▫More than 500 million active users

Business Thoughts of Social Media •Quote from one business

•Increased awareness of company and product

•More than one network confusing

•Facebook – social •LinkedIn – business

Dartmouth Study•Inc 500 companies 75% familiar with social media

• Future implementing

• Quote from CEO of Financial Insite

Pros:

Cons:

Conclusion: