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Archive for the ‘Social Networking’ Category

While doing some research on social networking domain, found some interesting figures to share, which will surely drive the social networking development companies.

Market at a glance-

The market for the internet and social networking communities is estimated at about USD 1500M this year.

Social network/Community development and enhancement individually by 2006 stood at USD 700M and is estimated to touch USD 4000M by 2010.

The top 3 player in the market are Myspace, Facebook and Bebo with market shares 80.74%, 10.32%, 1.18% respectively.( data is based on custom category of 20 of the leading social networking websites ranked by market share of visits, which is the percentage of traffic to the site, based on Hitwise sample of 10 million US Internet users. The percentages represent the market share of visits among the websites within the custom category.)

Growth Path-

Social networking sites are growing 47% year on year increasing from an audience of 46.8 million to 68.8 million in April 2006.

Social networking sites are the reality of the Internet; the content is relatively inexpensive for publishers to produce.

It will become more ingrained in mainstream sites, just as reality TV shows. MySpace.com, the top Social Networking site of all in terms of number of registered users, saw a staggering 367% increase. The graph is still increasing with many more Social Networking players jumping in; the web scene seems set just right for Social Networking.

The social networking sites that are seeing strong growth have developed a unique online presence which is refreshed by user generated content. This promotes ongoing consumers interest and visitor loyalty. The market share of Internet visits to the top 20 social networking websites grew by 11.5 percent from January to February 2007, to account for 6.5 percent of all Internet visits in February 2007.

The Internet which is considered as the world’s largest library is also used for absolute communication. National borders aren’t even speed bumps on the information superhighway. The rapid growth of the Internet through recent years is because of the intensification of social networking websites. These social networking websites are welcomed by people from teens to businessmen.

Social Networking among Teens

The social networking websites are given a warm welcome by teens because of the easiness to get new friends online. Repots indicate that teens are using the Internet extensively to communicate with each other through the social networking websites. Social networking is booming as teens could share their ideas, post comments, upload photos, and share the information about the latest happenings in their world and so on through them. Social networking websites like myspace, friendster, and facebook has become socially acceptable among majority of teens.

Social Networking among Advertisers

Social networking websites are also welcomed by advertisers around the globe. For example, the famous social networking website, myspace generates over billion as advertising revenue. There is nothing to wonder why these websites draw many advertisers. These social networking websites have the ability to draw the attention of a massive audience and hard to reach young consumers. And this is what advertisers are looking for. Moreover, social networks are able to target advertising based on the profile of the consumers.

Social Networking among Business

Nowadays, businessmen consider the social networking websites like myspace as opportunities to promote their business. As the web traffic in social networking websites are high, these businessmen have a higher chance of building web presence than the competitor who is not utilizing these methods. The next important reason why people use these social networking websites for business promotion is because of their ability to build effective backlinks. With a little patience and persistence one can utilize the social networking websites like myspace to build web traffic and sales.

Over half of all Americans between the ages of 15-34 consider themselves active social network users. They regularly visit well-known social networking sites, such as MySpace or Facebook, or log onto specialty social networks, like Ravelry (devoted to the fiber arts) or GroupRecipes (for the foodie set). While industry research tells us that television watching is declining, especially among this age group, social network use is on the rise: average users spend seven to eight hours a week online.

This time spent on social networks clearly affects buying decisions. An estimated forty percent of all social networkers say they use social networking sites to learn more about brands or products they like, according to GreenBiz.com, with twenty-eight percent saying they’ve had a brand or product recommended to them by a friend.

The message is clear. Strategic use of social networking can help a company grow. It’s an effective use of target marketing, reaching out to one’s customers where they are.

However, in order to capitalize on social networking’s power, you have to do it right. Execution is everything. Make no mistake. Every time you log onto Facebook, MySpace, or other social networking platform, you’re representing your company in a very visible arena. The world is, quite literally, watching.

There are five common mistakes Nichepreneurs™ make when it comes to social networking. Here’s what they are — and more importantly, how to avoid them!

Mistake #1: Dismissing Social Networking as “Just a Fad”

Social networking may have emerged as a phenomenon only recently, but it is a manifestation of something as old as time — word of mouth! Customers value the opinions of colleagues, relatives, peers and friends above almost anything else. This has been true for generations. Social networking has merely expanded the definition of friend. Technology has made it easier to communicate with more people than ever before — a person could have hundreds of friends they’ve never once met in person. That’s a power and a privilege that no one is going to let just fade away.

By : Jonathan Haryanto

Social networking is increasingly popular, and have become wildly popular with a varied demographic. The birth of the social networking phenomenon has seen a shift in the way that many people browse the web, and especially in the way that people interact socially. Bebo, Facebook, Flickr, Friendster, LinkedIn, MySpace and Twitter are among other plethora of social networking sites out there on the net. They seem to have become unavoidable, and spring up wherever you go.

Everything about social networking is based on the profile. People spend hours updating their profiles just to let the world know whatever they happen to be doing. It seems that everyone is trying to live as their own mini celebrity, and suddenly everyone want to know your intimate details on everything from your address and date of birth to your musical tastes. The desire to have the most friends, or the most hits, makes people scramble to get as many friends as they can, even if they’ve never met the person. They add a vast swathe of plugins while bloggers and YouTube video makers are all trying to score as many hits as possible.

Each month there are billions of page views of ‘Web 2.0′ websites as people return time and time again to Social Networking Sites (SNS) like Facebook and MySpace, Social Media sites like YouTube and Blogger and Social Information sites like Wikipedia and Delicious. Cagora has recently launched the first Global Community Network consisting of more than 20,000 local and special interest communities that appeal to all generations. Cagora goes beyond Social Networking, Social Media and Social Information to provide Community Networking, Community Media and Community Information where Individuals , Businesses and Community Groups are all part of the same network.

Social networking is a big buzz in today’s world of Internet marketers. Social networking can be said to be virtually started (introduced) by My Space and facebook. Today, these two giant social networking websites are the ones most visited by people. Many of the Internet marketers have found charming opportunities to market their products through these social networking websites. Though all the members of these social networking websites are not targeted, many of the Internet marketers consider this as an effective means to get more free exposure to their business.

There are many social networking websites that are emerging each and every month. TalkMoola.com, Zenzuu, Friendswin, Yuwie, and Wowzza are some of them launched recently. With all these social networking websites, Internet marketers have a wide source to promote their business. However, many of the Internet marketers complain that social networking is a complete waste of time and they didn’t find gain out of it. It is because not all network marketers have caught on to the power of social networking yet or how to properly use social networking to explode their businesses. But the ability to further expose themselves and their business to other like-minded people is extremely valuable and profitable for most.

The most important fact about social networking websites is that all social networks that are created are not equal. Social networks differ in many ways. It is up to you to choose the best social network that suits your business promotional needs.

Look for Social networks with similar interests

Social networking is the buzz word in today’s Internet space. With lots and lots of people getting into Social networking everyday, many wise online marketers are creating their own Social networking websites. However, with many online marketers getting into Social networking, it is necessary to highlight your social networking website to avoid getting lost in the crowd. For this you have to offer your users with something unique and useful.

Provide the users with interactive Social networking Softwares

Do you know the reason behind the huge popularity of the social networking websites like myspace and face book? One of the reason is that they provide some interactive, useful social networking softwares. Unlike other softwares that needs to be downloaded to the users computer (which most of them do not prefer), these social networking softwares doesn’t need to be downloaded. These web based social networking softwares are gaining popularity these days because of the ease of use. As there are no compatibility problems associated with these social networking softwares, anyone can use it.

Creating Social networking software for your own Business Social Networking Website

When it comes to creating a social networking software, you will come up with a question “Should I Build my Own Social Networks Software?” Just keep reading on to find the answer. You can create the social networking software for your website by yourself if:

1. You are a skilled programmer.
2. Have lots of time to spare to spend on researching the trends in the Social media.
3. Are able to identify the user needs and satisfy them