Social Network and Social Media Technology

1. Social Network and Social Media Technology Kevin Schmitt Ryan Witham Group 1

2. Definition • Social Network-social structure that is comprised of individuals that are connected by one or more common factors • Social Networking Site-web-based service that allows its members to create a public profile with their interests and allows communication with others within their network • Web 2.0

3. Definition • Social Networking in Plain English

4. History

5. Interesting Facts • Members • Facebook- 500 million (July 2010) • MySpace- 100 million+ • Twitter- 175 million • LinkedIn- 90 million • 22% of all online time is dedicated to social networking • 110 billion minutes worldwide • 57% of global internet users manage a profile on a social network • Most active: Malaysia, Brazil, and India • How do social media sites generate cash flow? • Investments from Venture capitalist • Generate revenue through advertising • Estimated that $2.7 billion will be spent by advertisers in 2011 relating to social network ads • Facebook captured $1.86 billion in advertising revenue in 2010

6. Benefits of the Social Network • It’s about who you know- expanding your personal network • Helps user find relevant information • “Word-of-mouth” recommendations • Businesses can make a site to market and advertise themselves for relatively no cost • Enhance job selection process • Advertisers can target only those consumers in their specific target market

7. Risks and Drawbacks • Identify theft and fraud • Privacy concerns • Disclose personal information • Threat of sexual predators • Online bullying • Spyware/Malware • Business Productivity Losses • Employees on average spend 40 minutes/week • Estimated $2.25 billion lost every year (England)

8. The future of Social Networking • Open Social networks • SocialEyes • Video Chat through Facebook • Facial Recognition • Twitter feeds from objects? • Web 3.0? • Semantic web

9. Web 3.0

10. Any Questions?