Social Networking- the Revenue Generator
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.
Mobile Social networking- The next Destination
Social networking is going mobile and is poised for spectacular growth over the next five years, mobile social communities will be attracting members in swarms, more than tripling in size from 50 millions to 174 millions by 2011.
For the moment, MySpace and Facebook are hot. News Corp. paid 0 million last year for MySpace as part of a .3 billion Internet acquisition spree. Facebook just received an additional million in venture capital.
Both companies are planning to extend their reach beyond the computer screen to cell phones.
Cingular Wireless, Sprint Nextel and Verizon Wireless are starting a service that will allow users to post messages on Facebook’s home pages or search for other users’ phone numbers and email addresses from a cell phone.
MySpace has a pact with Helio, a wireless joint venture between SK Telecom and Earthlink, which will allow users to send photos and update their blogs or profiles by cell phone.
Advertising-
Social networks are an integral part of the cultural fabric of the internet and their rapidly growing and demographically appealing audience has attracted the attention of advertisers.
According to the latest forecasts, marketers will pony up an estimated 0 M in the USA to advertise.
By 2010, the online advertising spend will grow to .8 billion.
Marketer estimates that the social networking ad spend of the USA will rise to 0 million in 2007(up from million in 2006), and by 2010 is expected to reach 5 million.
Advantages-
Advertising on social networks will teach marketers important ways to reach newly-empowered consumers.
Social networks will have an incalculable influence on all advertising, both online and offline.
If companies can go even deeper to develop marketing efforts that fully embrace the “one-to-one-to-many nature of social networks, ad revenues will soar. This way of advertising will spill over into other channels. The underlying concept will influence the way advertising is done in all media, not just online.
Social Networking- The revenue Generator
Advertisers delight- Advertisers can target local as well as international market at one place.
Social networks are becoming a good environment to sell products, especially if marketers want to cultivate a brand and get its loyal users to do the selling and evangelizing. That evangelism happens in a community.
Recruiters’ Heaven- Now a day, top MNCs are hiring from professional social networking sites like Linkedin. They can also check the social index and compatibility of the candidate along with the background check, which is helping them to save a lot of money.
The cost of gaining new customers is practically nothing because users join voluntarily and provide their own content through their profiles.
The interactive nature of social networking sites keeps visitors coming back which helps the sites to retention rate high.
The cost of running the sites’ web servers is relatively low. If a classic advertising or subscription revenue model is used, low cost social network sites could be highly profitable.
All the above information concretes our philosophy that social networking as a domain for business is going to stay and grow in a rapid rate.
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Social Networking Among All
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.
Social Networking websites for all
The recent growth of social networking websites has grabbed the attention of web designers also. The professional web designers around the globe design social networking websites based on one’s need. These experienced social networking web designers are capable of creating stunning networking websites for different uses. It means that you can even own a social networking website like myspace with the help of these web designers.
However the social networking websites added to the growth of the Internet. More people spend more time in using the Internet than ever before. Communication has never been easier than at present. All these changes are seen because of the rapid growth of the social networking websites.
Social Networking: the Five Biggest Mistakes Nichepreneurs? Make
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.
Mistake #2: Mistaking Social Networking for Advertising
Social networking is a form of relationship marketing. It works best when you view it as an opportunity to build your brand, a prime platform to let your customer base know who you are and what you represent.
At the same time, you’ve got a fantastic chance to learn about your customers. If you actually stop and read what they post, you’ll learn a tremendous amount about who your customers are and what’s important to them. Where else do you get your customer’s pure, unvarnished opinions served up to you on a silver platter?
Don’t spoil this prime market research opportunity with unwelcome advertising. It’s fine to let people know you’re in business, but that can’t be the only thing you bring to the conversation.
Mistake #3: Failing to Connect Online Interaction with Real World Consequences
This mistake is often a generational problem. Nichepreneurs who grew up before the Internet was such an omnipresent force can have a hard time understanding how words on a computer screen can have real consequences on the every day course of business.
Compounding the problem is the fun, freewheeling atmosphere prevalent on many social networking platforms. It’s easy to forget the potential results when the commentary’s flying fast and furious. However, your words can come back and haunt you later. Remember — it all counts! The days where an organization can dismiss poor behavior with “It’s just the internet” are long gone!
Mistake #4: Using Sock Puppets
Sock puppets is the term applied to social networking accounts that are created with the intent of hiding the poster’s true identity. Individuals often create sock puppets in an effort to avoid the real life consequences discussed in mistake number three!
Sock puppets can be used to boost, support, or defend a company’s position. Conversely, they can be used to tear down, disparage, or make negative commentary about a competitor’s organization, products, or services.
Either way, it is a bad idea! Many denizens of social networks are incredibly tech-savvy, and it won’t take them long at all to discover who is really behind a string of negative or hostile commentary. Exposure can be a public relations nightmare.
Honesty is the best policy. Either be willing to own your commentary, by posting under your own identity, or don’t say them at all!
Mistake #5: Overestimating Social Networking’s Role
Social networking is powerful. It is influential. It is, in many cases, free to participate in. However, it is NOT the end all, be all solution to your marketing needs. While it is tempting to try to solve many of your marketing challenges with social networking, it is important to remember that social networking is a tool, not the only tool.
Use social networking efforts to augment your existing marketing efforts. There are small, start up companies that market themselves solely via social networking. However, this is a self-limiting strategy: even if you reach every single person on that network, you’re still missing out on a large number of potential customers who never log on.
Keep your perspective. Social networking might not eat into your budget, but it does take time. Realize that at best, social networking can significantly augment and enhance your marketing and promotional efforts — but it will never wholly replace it!
Free internet Marketing Techniques – 4 Most Essential Things to Know
Most of us that very own our very own World wide web based companies realize the value of societal media internet marketing and advertising methods. These techniques are a extremely effective and strong way to brand you and your enterprise on the web.
Free of charge Interpersonal Resource Net Advertising Tactics – 4 Most Critical Things to Know:
1-Key phrase Study: This is the basis to all research engine optimization on the web. Any individual who uses societal media channels advertising understands the significance of extended-tail key phrases. The much more educated that you turn into at this the much better the research engines will rank you. In truth, in most cases you will be in a position to be on the 1st web page of any research with the right key phrase and key phrase placement. But you should bear in mind, that when it comes to interpersonal media channels web marketing and advertising, without having the proper coaching you will have difficulty having ranked increased in the search engines and this will be a stumbling block to your company on the web.
2-Sociable Bookmarking: Societal bookmarking is a really strategic advertising strategy to use for your societal platforms. By making use of bookmarking internet sites such as Socialadr and Digg to bookmark hyperlinks to your articles and videos will give you a far better ranking in the research engines which will in turn increase the site visitors to your site.
3-Forums: One more extremely effective way of utilizing free internet marketing and advertising tactics is by participating in on the internet discussion forums. By becoming friendly and offering beneficial details will give others back links to your sites. Also answering some others queries in on the web discussion forums is an outstanding advertising tactic.
4-Social Networking: Utilizing sociable networking websites this sort of as Facebook and Twitter is one more fantastic method of making use of totally free internet marketing. This is by far one particular of the easiest and greatest ways to market your on the web organization. It is an excellent way to make new friends and connect with old buddies as properly. You need to keep in mind to not more than encourage your products and/or solutions. Just like with anything else there requirements to be a balance so don’t forget not to bombard some others with your inbound links all day extended.
So in evaluation of the totally free internet marketing and advertising techniques – 4 most crucial items to know, it is a need to that you discover a mentoring and marketing and advertising plan that offers you with outstanding coaching. Finding a firm that does the search term research for you and provides you ongoing education is very much greater than attempting to best it yourself. In understanding net marketing techniques make sure you due your due diligence to locate the appropriate company that is there for you and the good results you are hunting for with your enterprise online.
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Top 3 Predictions of Social Networking Ahead of 2009
Social Networking, one of the most used technologies of the year 2008 is now heading to a new year. The social networking websites have seen a rapid constant growth through the year 2008. However, today many of the people think that social networking is over crowded and is about to nose dive in the forthcoming months. So let’s have a peak into the future of social networking websites.
For business promotion, Social is still on the right track
In the year 2008, promotion of business through social networks was considered as the best online business promotional strategy. However, today many online marketers think that social networking has lost its charm. The reason they say for this is the over crowded Internet. The true fact here is that the Internet marketers are finding it difficult to get highlighted to get highlighted in the social media crowd. As the old saying goes, “the bad workman blames his tools”, the Internet marketers are blaming the crowded Social Networks because of their improper promotional approach. A crowded place is the best one to promote your business and social networking is the perfect spot.
Teens and High School buddies will stick to the existing Social Networks
Myspace and Facebook are known to almost all the teens in the planet who uses the Internet. These social networking websites re-defined the mode of communication and today, the International barriers aren’t even speed bumps on the social networking superhighway. The social networking websites have helped the high school buddies a lot to stay connected. This attraction of social networking websites to teens will continue in the next year too. It means that the social networking websites will continue to gain popularity in the same pace as in 2008.
The Changing trends – Designing own social networking websites
The simple social networking web design technology has made many people to create their own social networking websites. Statistics indicate that many more people will design there own social networking websites and this is gonna be a trend in 2009. The social networking websites will become a must have to all of them by the year 2009.
Getting prepared for the new trend in social networking
With everyone creating a social networking website, it’s time that we should be prepared too. With the easiness in social networking website design, there is absolutely no reason why you shouldn’t have one of your own. However, we know the fact that everyone of us is not born with unique creativity and not all of them are great programmers. You can have your own social networking website even if you are not a skilled programmer. There are many professional social networking web designers who can create professional social networking websites for you at an affordable cost. What are you waiting for? Create your social networking website today and prepare to welcome the new trend in social networking.
commoncraft.com A simple story that illustrates the forces shaping social media. This video comes in an unbranded “presentation quality” version that can be licensed for use in the workplace. http
Video Rating: 4 / 5
How Can Non-Profit Organizations Use Social Networking
The use of social networking by non-profits is not particularly new. For as long as social networking sites, like Facebook, have been popular, non-profits have been utilizing these models to disseminate message. The typical model involves non-profit organizations teaming with a social networking site in order to share the message of need and to convince their audience to lend support. Social networks give non-profits a number of tools including blogs, messaging, and petitions that allow information to be shared more easily and efficiently. Essentially, social networking sites can help non-profit organizations to create a forum to discuss various issues, to gain support from a wider audience, and to conduct more effective internet-based outreach.
Social Networking and Non-Profit Organizations
Let’s first discuss a brief definition of social networking. In the simplest possible terms, social networks provide an environment where people can connect and share information. The most popular social networks are open to a vast audience because they offer features that anybody can enjoy: you can share pictures, videos, or messages; reconnect with old friends; and even meet new friends. However, as social networks have become more popular the model has changed to a certain degree. Initially, Facebook was designed as a site where college students could meet and interact but it has developed into a major world player in the business of social networking. Nevertheless, there seems to be a return to simpler social networking models that provided a focused service to the users. As such, non-profit societies can benefit from these networks because they provide a means through which like-minded individuals with similar goals or aspirations can connect. The bottom line is that social networking is a platform for non-profits to reach their target audience. They can replace traditional mail or advertising campaigns as inherent in social networks is not only a meeting place but a message delivery system and a system for reaching a larger audience as well. Members of your social network share information with each other, disseminate important messages, and invite new members into the fold. Therefore, social networking is a powerful tool for expressing your core values and for attracting greater support.
Current Examples
While many of the benefits of social networking for non-profit organizations have yet to be seen, there are a number of current examples where non-profit organizations are putting social networking to work. Leveraging social network to accomplish real goals is something of a departure from the typical model which limits social networking as an entertainment tool. Nevertheless, social networks can be used by non-profits to increase their visibility, accomplish their core goals (like helping individuals find jobs or raising money for animal shelters), and also to increase awareness about major issues.
Social networks can be used in one of two ways by non-profit organizations. First, you can rely on already existing networks, like Facebook or Myspace, where you can start a group or petition and encourage new members to join. A non-profit organization that attempts to find good homes for animals might, for example, post pictures of these animals on Flickr in an attempt to gain the support of Flickr users. Likewise, a non-profit organization looking to stimulate support for their goals might use Facebook to organize an open event that invites individuals to come and learn about said goals. As you can see, online communities provide a powerful method for networking so it is easier than ever to find people who share similar values and want to achieve the same goals.
On the other hand, non-profit organizations can also invest in the development of their own social networking site. At the moment, there are already a few of these sites that attempt to connect people in a more focused environment. Instead of relying on an already existing social networking platform, creating your own gives you the opportunity to shape all the information that is shared between users. In addition, users of a focused social networking site are already motivated to give support and to attract new members who are likewise motivated. In the case of social networking site developed specifically for the needs of the non-profit organization, the site can be designed to share very specific information about events, donations, or services that are directly related to your organization.
The Challenges of Social Networks
Despite their benefits, there are still a number of challenges to social networking. While you can organize individuals and information with social networks, many non-profit organizations do not have the resources to develop focused sites. Similarly, these organizations may not have the resources to even learn the ins-and-outs of existing options. Moreover, social networking sites do not guarantee that your message will be received or that your audience will grow. Some work needs to go into building a representative client base that can achieve the kind of self-growth of which social networks are famous.
Still, dedicated or focused social networks will have a unique user base that can easily include all potential volunteers, donors, and supporters. The first step is building a small, dedicated audience that will be likely to want to share their message. Whatever tools or benefits come from social networks, it is clear that they will play a major role not only for non-profit organizations but other business and social communities as well.
Myspace confronts a young fellow who may have been cheating on it with other sites. Soon facebook and others show up for a showdown. Let the social networking wars begin! Watch more SuperNews! www.current.com www.facebook.com VIEW more SuperNews! clips & SUBSCRIBE to the YouTube Playlist here… www.youtube.com
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