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Why are social networking sites successful? Unsuccessful?

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

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Why are social networking sites successful? Unsuccessful?

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Presentation Transcript

  1. Why are social networking sites successful? Unsuccessful? • Goals • Ability to stick to them • Needs/wants of user’s • Making adjustments • Secure • Large user base

  2. How do the social networking sites intend to make money?

  3. Venture Capital • Firms provide startup financing • Assume investment will pay off with IPO • Facebook • $27.5 million investments

  4. 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”

  5. 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

  6. Premium Offerings • Offer more options in addition to free site • Premium v. Freemium • LinkedIn • Membership fees • Match.com • Pandora

  7. How are businesses & companies using social networks to make money or manage?

  8. 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

  9. Threats and Issues

  10. Competition • Startup Costs • Excess of Players • Facebook • Perception of the public

  11. Marketing • “As Marketers Move In, Users Move Out” • Gaining Advertisers • Measuring success • “Likes” • Ensuring the message gets across

  12. Privacy • User Anonymity • Identity Theft • Spamming • Malware • Corporate Espionage

  13. Ethical Considerations • Addiction • Filtering

  14. Emerging Trends in Social Networking Changing Corporate Culture Internal and external implementation Mobility of Social Networking Outsourcing of Social Networking

  15. CEO’s Embrace It

  16. Corporate Benefits

  17. Implementation Drivers Employee Collaboration Efficiency in locating people and resources Idea Generation

  18. Mobility • BYOD Programs • Half of Americans use Smartphones

  19. Outsourcing

  20. In Conclusion…

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