Social Networking

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Social Networking

• Anthony Bonomi, Amber Heeg, Elizabeth Newton,
  Bianca Robinson Marzi Shabani

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Social Networking

• Social Network
• A website where one connects with those sharing
  personal or professional interests, place of
  origin, education at a particular school,
  etcetera
• Any website designed to allow multiple users 
• to publish content themselves

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Social Networking

• Content
• Sites typically allow users to create a profile
  describing themselves and to exchange public or
  private messages
• Content may be on any subject and may be for
  consumption by (potential) friends, mates,
  clients, customers, employers, or employees
• Content may include text, images, video or any
  other media

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Social Networking

• The Beginning
• Began as a generalized community to bring people
  together in order for them to interact with one
  another through chat rooms
• Users were able to share personal information
  through their personal webpages that they
  created.
• User profiles came about in the 1990s
• 2002 Friendster became the start of the new trend
  of social networking. A year later Myspace and
  LinkedIn came about, followed by Yelp and
  Facebook, which is now the largest social network
  site in the world, in 2004, and lastly Twitter in
  2006.

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Social Networking

• Popular Sites
• Facebook 500 million users. It is the largest
  social network. Users can friend, become a
  fan of, or like different profiles. Allows
  individuals and businesses to create pages with
  user-driven content. Text, pictures, video,
  messages are all part of the user interface.

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Social Networking

• Popular Sites
• Twitter Allows for short tweets of 140
  characters or less. Users can follow friends,
  businesses, and even celebrities.
• Foursquare Allows users to check-in to
  different locations. Allows friends to view
  where you are at. Allows businesses to post
  deals. This is a newer network and its business
  applications are just beginning to be tapped.

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Social Networking

• Popular Sites
• Yelp Allows users to rate local and national
  businesses. Users can also search and find
  businesses by city, type, and rankings. The
  reviews of restaurants and shops are helpful and
  show up near the top in most searches, including
  google and yahoo.

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Social Networking

• Businesses Social Networking A match made in
  heaven
• Businesses are just beginning to realize the
  value of social networks for reaching new and
  returning customers
• Businesses must stay on top of new social
  networking trends and technologies to stay
  current and competitive

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Social Networking

• Business strategies
• Goals
• Create a cost effective and intriguing
  advertisement
• Increase their profitability
• Increase the number of their ads followers/fans
• Capitalize on marketing opportunities

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Social Networking

• How to Gain Prominence
• Create a presence for their company on the
  website
• Build relationships with potential new clients or
  customers
• Helps build credibility and trust in the eyes of
  their customers
• Target users who show interests relating to the
  companys products or services
• More than 500 million users on Facebook 500
  million potential customers

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Social Networking

• Ways to Improve Sales
• Customer can rate and leave feedback for each
  companycompanies can adjust their approach based
  on these reviews
• Ability to track how company is performing
• Can target ideal consumers
• Update profile, fan pages and advertisements
  regularly
• Offer exclusive promotions and deals to
  followers/users

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Social Networking

• Marketing Opportunities
• Cost-effective ad campaigns
• Ability to reach friends of current customers
• Ability to send instant updates
• Reach out to financial professionals and high net
  worth investors
• MySpace and Facebook make up 72 of the online
  advertising market
• Generate word-of-mouse hype

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Social Networking

• Invasion of User Privacy
• Information is stored and kept in cookies for an
  infinite amount of time
• Pictures and information posted by users are
  released to businesses
• Advertisers use the information provided to
• profile potential customers
• GPS-related data

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Social Networking

• No Spam and Malware Prevention
• Access to the computer system without the owner's
  informed consent
• In 2009, 50 of companies advertising on sites
  received spam through a social networking site,
  and 36were hit by malware.
• Growing population of users decreases the
  effectiveness of spam filters

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Social Networking

• Security Risks

Which social networking website do you think
poses the most significant security risks?
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• Success
• Maximizing for business use include using all
  available resources
• Coca-Cola and Chargers
• Facebook over all best interaction with consumers
• Using multiple sites is key due to many consumers
  not using every site
• Cost effective in its own way but is time
  consuming

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Social Networking

• Conclusion
• Social networks and businesses are a mutually
  beneficial relationship
• As the technology makes the world smaller and
  information becomes faster and more accessible it
  will be important for businesses to evolve with
  it or be left behind

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Social Networking

• Something to Consider
• The way we connect to each other and the world is
  changing. Social networks are now part of our
  daily lives. The way businesses do business and
  connect to customers is changing too. Where will
  the future lead?
• What will the world be like in 2020?