why are social networking sites successful? unsuccessful?
DESCRIPTION
Why are social networking sites successful? Unsuccessful?. Goals Ability to stick to them Needs/wants of user’s Making adjustments Secure Large user base. How do the social networking sites intend to make money?. Venture Capital. F irms provide startup financing - PowerPoint PPT PresentationTRANSCRIPT
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Why are social networking sites successful? Unsuccessful?
• Goals– Ability to stick to them
• Needs/wants of user’s– Making adjustments
• Secure• Large user base
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How do the social networking sites intend to make money?
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Venture Capital
• Firms provide startup financing• Assume investment will pay off with IPO• Facebook– $27.5 million investments
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Advertising
• Pay social network to display their ads• More people view ads on popular sites• Twitter Posts• Facebook– Moves ads from sidebar to newsfeed – More likely to notice / interact– “Likes”
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Entertainment
• Zynga– Purchase virtual goods with actual money– 30% of revenues to Facebook– 12% of total revenue in 2011– $445 million
• Facebook Gifts– Innovative way to earn money
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Premium Offerings
• Offer more options in addition to free site– Premium v. Freemium– LinkedIn
• Membership fees– Match.com– Pandora
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How are businesses & companies using social networks to make money or manage?
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Business Facebook Applications
• New business, not marketing• Integrate and generate revenue directly from
app• Other companies pay for users– Jobster Career Networking
• Users pay for services– Lending Club
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Threats and Issues
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Competition
• Startup Costs• Excess of Players• Facebook• Perception of the public
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Marketing
• “As Marketers Move In, Users Move Out”• Gaining Advertisers• Measuring success– “Likes”
• Ensuring the message gets across
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Privacy
• User Anonymity• Identity Theft• Spamming• Malware• Corporate Espionage
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Ethical Considerations
• Addiction• Filtering
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Emerging Trends in Social Networking
1. Changing Corporate Culture2. Internal and external implementation
3. Mobility of Social Networking4. Outsourcing of Social Networking
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CEO’s Embrace It
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Corporate Benefits
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Implementation Drivers
1. Employee Collaboration
2. Efficiency in locating people and resources
3. Idea Generation
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Mobility
• BYOD Programs• Half of Americans use Smartphones
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Outsourcing
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IN CONCLUSION…