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RSSThings are moving fast in the world of social networks. Every day it seems MySpace is adding features that mimic Facebook-like functionality, and Facebook is adding features (or apps) that make Facebook look more like MySpace. I have a MySpace account that I use 95% for connecting with friends and family; a Facebook account that is 35% friends and family, and 65% professional; and a LinkedIn account that is 95% professional connections. There is overlap across all three. I have an ASmall World account I have yet to build out my network on (if you're on ASW, Facebook, or LinkedIn, shoot me a connection request and reference this Spin so I know how you found me). But what is the future of social networks as more niche social networks come into play and strong players like MyYearbook, Buzznet and Bebo continue to grow? Where does a marketer place his or her bets?
First, people need to stop "starting to think about 'what's next' before they've figured out 'what's now,'" as Ian Schafer puts it in his blog. Ian makes this statement as a reaction to the idea that some marketing executives are beginning to question the relevance of MySpace as other "hipper" social networks come into play. I couldn't agree with Ian more. Questioning the relevance of MySpace is truly ludicrous; I find it hard to believe any marketer trying to reach the 14- to 28-year-old demo would really question MySpace's relevance in a marketing plan because they have yet to figure out how to tap into the medium, and therefore must simply play it off as "old news." Consider that research firms OTX and Intelligence Group studying teens are asking "How happy are you with your appearance on Online [e.g. MySpace]?" right alongside "How happy are you with the way you look?" (By the way, teens were happier with how they looked on MySpace than they were about their health, their grades and their relations with family members, just to name a few.)
So don't start crossing networks off because they aren't "hot" right now -- because the big guys aren't going anywhere. And don't let your agency sell you that bill of goods, either. So your future media plans will include the major social networks as well as a number of the other communities that people you want to reach have decided to call home online. This doesn't mean you have to reinvent the wheel for every community you want to enter. Part of building a great social media plan is that it should be applicable across social networks, with some (warning: some has very different meanings depending on the social networks you are working with) alterations.
This brings us to the infamous developer platforms, another popular "what's next" for social networks. I can't name a social network that isn't working on its own developer platform. I have never seen such anxiousness to enable the distribution of applications that serve little purpose (other than to annoy, if you read this Time article) -- and generate even less cash. But we can hope, both as marketers and members of social network communities, that something will be done and the goat-throwing, the biting and the mindless gifting of digital nothings will work its way out. Because it is in social networks' ability to open up to developers adding value to their communities, rather than spamming their communities, that brands can be a more valued participant in the conversation.
What's next for social networks? More of the same. It's still a medium working itself out. Brands will play a huge role in developing social networks by adding value to the communities, the same way they have in the high school cafeteria that has been the real world for decades. What else is next for social networks?
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Last year two friends and I went to a rat pack inspired weekend conference in Vegas that I heard about on MySpace - proving that we weren't reluctant to buy from a vendor we met socially online. I think good ads would get the same response.
Well put. Note the avalanche of Linkedin "look alikes" - - Plaxo, Naymz, bluechipexpert, etc. all trying to capture the business crowd. IMHO its already game over as LinkedIn has become the standard in this space.
I concur on your second point as well. Real professional social networking cannot exist on these broad connection sites. Content is too important an ingredient and as such will fuel the special interest professional networks that you see evolving already (www.ciozone.com). And where the audience goes, the money always follows.
Steve
Social networking is due to develop much further, but get easier for maketers to exploit. With MySpace and Facebook have woken us up to the medium, the next wave is more focused sites appealing to special interest groups or specific needs. These will have much more niche memberships and make it a whole load easier for advertisers to pick out the ones most relevant to them. And where the money goes...
Ian Hendry http://www.wecando.biz
Personal view:
Facebook - for professional contacts MySpace - Arts - multi media communication - video/audio/pictoral ( V important) Bebo - Very strong for youth and predominant in Ireland Twitter - somewhat embarrassing Blogging - narcissistic lol sorry... rss - tailored and needs constant review Message Boards - under used in a professional capacity - asynchronous conversations SL - very exciting potential
now off to investigate ASW
Zenophon - While SocialVibe.com is NOT a social network, I have learned a lot about starting a community with a lot of social functionality. I think you're right, nothing like trying to build one to understand it.
My Position: Every marketer should try to start their own social network for fun on Ning (doesn't have to be brand related), just to understand a little better why people join, and what it's like to have that experience interrupted.
Hugh – I am terrified to start twittering. I don’t know if I can start another. If I do, I will write about it here.
Michael – All great points. Alternative revenue streams I think will be less difficult than people imagine as spam becomes an issue on the major social nets and heavy users are more willing to pay for a better experience.
Whether we are talking about a B2B or B2B platform is not the issue. Our world, virtual or real is all about people. And people need to network, socialize and interact with other people. Social networks are here to stay. And those in the business that recognize and accept this will be the big winners.
Joe, I should also mention I like your new "do".
As a follow up, our social networking site has about 150 members with zero promotion to this date.
http://www.sportsbusinesssims.com/sbs-social-network-system.htm
I coded it to fit within our site and so that students playing our classroom sims, which I also created, will use it. I have to be more agressive about getting traffic to go in that direction, but we have the system.
If anyone has a question about this, please contact me from the site.
ccboak cheilusa.blogspot.com
Unfortunately too many people make their decisions from the vacuum of a conference room. If you're getting your marketing direction from Time magazine, you deserve to crash and burn.
Wake up, Suits!
Mitch Aase www.magicomm.biz
The second thing is the seamless ability to move among all our SNs and remember who we are in each of them. The market-winning version or competitor to openid is here now -- just not sure which will win.
But the most important thing I think is next, is moving beyond competing features in identity-affiliation-based social networks -- whether goats or pokes or whatever, as you rightly mock. By "I-A-B" I mean "I'm a serious business person, therefore on Linkedin; I'm a new band lover, so I joined MySpace long ago; I'm a hip business person so I'm straddling with Facebook," etc. Instead what I foresee (perhaps I should say, hope for) is action-based belonging. I want to accomplish something -- therefore I belong to Credo (formerly Working Assets), for example.
I know, I know, most people are still passive, but a fella can hope!
By the way I'm at Facebook, MySpace, Ning, Bebo, LinkedIn, Twitter, etc. I'm also 62 years young!
Have not tried a A Small World yet.
Hugh