DIS 605: COLLINS OYUNGE OBIERO D61/70674/2008

 INTRODUCTION  What Is Social Networking? Social networking is the grouping of individuals into specific groups, such as small rural communities or a neighborhood subdivision. Although social networking is possible in person, especially in the workplace, universities, and high schools, it is most popular online via social sites.

 IMPORTANCE  Social networking is still the number one growth area in online marketing. Top Social Networking Websites grew as means to stay in touch with friends, meet new people online and to share ideas.  The success of social networks marks a dynamic shift in how people are using the Internet. We’ve evolved from just searching for information to creating and participating in social spaces with other individuals through the Internet.

 IMPORTANCE (cont’d)  Eradication of the traditional communication barriers of physical locations.  Social networks make word-of-mouth marketing much easier than before. The best use out of social networks is not to make money ‘directly’ off them, but to harness their marketing potential and to use them to market your own business.

 The difference between traditional search engine marketing and social marketing  The main goal of any search engine marketer is to drive more traffic to their site. The best way to do that is to optimize your website (including the process of link building) for your target keywords.  Social networking allows visitors to create their own social network centered around a niche topic.

 MARKETING AGENTS There are three kinds of people who are responsible for spreading the firm’s message in social network marketing; namely:  Connectors These are people with a special gift for bringing others together. They are “people specialists” who possess the ability to make friendships with lots of people across many sub-niches and cultures.

 MARKETING AGENTS (cont’d)  Mavens Mavens are information specialists who have the knowledge and social skills to start word- of-mouth epidemics. Mavens provide the initial spark and message that Connectors filter through their large network of contacts.

 MARKETING AGENTS (cont’d)  Salespeople The third type of messenger, Salespeople, is vitally important to the transmission of a marketing message due to their ability to persuade others who are unconvinced of what they are hearing.

 INGREDIENTS FOR SUCCESS  Build trust -- Show your expertise to potential customers, employees and business partners.  Find business partners -- On social networking sites aimed at professionals; have a provision for members to create online resumes, leave recommendations (references) for colleagues, and setup introductions for each other.  Turn negatives into positives – The firm should learn how to react to negative criticism. In the current business environment, how one handles criticism is seen to be more important than what the criticism was trying to address.

 BENEFITS  Increased Market Share Social networking and marketing helps the firm expand its network easily through online reach to common interest social circles.  Lower Costs It is significantly cheaper to employ online social networking strategies than to pay for advertising. Social networks enable the prescreening of potential customers. One can learn what prospects like and what they don’t.

 BENEFITS (cont’d)  Credibility and Trust Connecting with prospects on a professional as well as personal level builds trust and credibility. A general rule of thumb is to offer your services, expertise or help before the client asks for it. However, this should be done with caution as some may consider such approaches as spam.  Refined Search Only social networking sites offer internet users with a search directory that you can use to locate particular individuals or groups.

 BENEFITS (cont’d)  Receptive Members The concept of social networking sites lies on the premise that members have at least one thing in common. Because of this, it is not surprising that one will receive messages from people that he/she does not really know or likewise.  Built-in Group Starting a discussion is not difficult with social networking sites compared to growing one on a site. Discussion groups are also the best place to do some soft selling. One can accomplish this by lending expertise on particular subjects.

 DISADVANTAGES  Lack of Anonymity Social networks require one to supply information about name, location, age, gender, and many other types of information that an individual may not want to let others know.  Security There is a potential for failure of security in both personal and business context. These include cases of harassment, cyber-stalking, online scams.

 DISADVANTAGES (cont’d)  Addiction Addiction is often a loose term, but an "addict" could spend more time on their "habit," often sacrificing work, friends and even their loved ones.  Identity theft Personal information can be stolen or networks can be attacked by viruses, leading to loss of data, which can then be used for malicious causes.

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