1. Chapter 8
Social Media, Peer Production, and Web 2.0

2. Internet services that foster collaboration and information sharing
Web 2.0
Internet services that foster collaboration and information sharing
Peer production: Collaboration between users to create content, products, and services.
Leveraged to create open source software that supports Web 2.0.
Collaborative consumption: Participants share access to products and services, rather than having ownership.

3. Web 1.0 and web 2.0 WEB 1.0 WEB 2.0 Domain name speculation Publishing
Content management systems
Directories (taxonomy)
Britannica Online, Encarta
Personal websites
Ofoto
Instant messaging, SMS
Monster.com
RealNetworks
Yellowpages.com
Travelocity
Vonage
Catalogs
Expedia, Orbitz
Search engine optimization and fans
Participation
Wikis
Tagging (“folksonomy”)
Wikipedia
Blogging, Status updates, Link Sharing
Instagram, Flickr, Facebook, Twitter
Twitter, Facebook, SnapChat, WhatsApp
LinkedIn
YouTube
Yelp
TripAdvisor
Skype Pinterest
Airbnb, Uber, RelayRides

4. Social Media tools Service Key Uses Blogs
Share ideas, obtain feedback, mobilize a community
Wikis
Create a common knowledge base
Electronic social network
Discover and reinforce affiliations, identify experts, message individuals or groups, visually share media
Microblogging
Distribute time-sensitive information, share opinions, virally spread ideas, run contests and promotions, solicit feedback, provide customer support, track commentary on firms/products/issues, organize protests

5. Online journal entries usually presented
blogs
Online journal entries usually presented
in a reverse chronological order
Long tail: Phenomenon whereby firms can make money by offering a near-limitless selection of contents and products.
Trackbacks: Links in a blog post that refer readers back to cited sources.
Blog rolls: List of a blogger’s favorite blogs.
Corporations use blogs to distribute ideas and gather feedback from the public.

6. Wikis
Website, that can be modified by anyone directly within a web browser, that serves as a shared knowledge repository
Acts as a collective corporate memory that is vital for sharing skills, learning, and preserving expertise.
Users can make changes to existing content and easily create new content.
Roll back: Ability to revert a wiki page to a prior version.
Useful for restoring earlier work in the event of a posting error, inaccuracy, or vandalism.

7. Wikis
Website, that can be modified by anyone directly within a web browser, that serves as a shared knowledge repository
All changes are attributed.
A complete revision history is maintained.
Automatic notification and monitoring of updates.
All pages in a wiki are searchable.
Specific wiki pages can be classified under an organized tagging scheme.

8. Individuals employed by organizations to review community content
Wikimasters
Individuals employed by organizations to review community content
Useful for jump-starting a wiki.
Griefer: Internet vandal and mischief-maker
Employed to delete excessive posts, move commentary to the best location, and edit as necessary.

9. Uses of wikis
Collect and leverage knowledge that would otherwise be scattered throughout an organization.
Remove boundaries between functional areas.
Flatten preexisting hierarchies.
Allow organizations to leverage input from their customers and partners.
Neutral point of view (NPOV): Editorial style that is free of bias and opinion.

10. Social network
Online community that allows users to establish a personal profile and communicate with others
Feed - Powerful feature of social networks:
Provides a timely list of the activities of and public messages from people, groups, and organizations that an individual has an association with.
Viral: Information or applications that spread rapidly between users.

11. Social network Rapidly mobilizes populations. Prompts activism.
Offers low-cost promotion and awareness of a firm’s efforts.
Poorly managed social network presence can:
Create accusations of spamming.
Create public relations snafus.
Lead to a reduction in the likelihood that a firm’s message will appear in a given fan’s feed.
Lead to user discontent and can potentially open up a site to legal action.

12. Corporate use of social networks
Organizational productivity tools.
Displaced the traditional employee directory.
Important since a large percentage of employees regularly work from home or client locations.
Firms are setting up social networks for customer engagement and mining these sites for customer ideas, innovation, and feedback.

13. Twitter and the Rise of Microblogging
Microblogging: Short-message blogging, made through a mobile device.
Twitter is a microblogging service that allows users to post via the Web, SMSA text messaging, or a variety of third-party desktop and smartphone applications.
Tweet: Twitter post, limited to 140 characters.
Hash tags: Method for organizing tweets where keywords are preceded by the # character.
Firms leverage Twitter for:
Real-time promotion
Customer response, engagement, and support
Gathering feedback and up-to-date information
Time-sensitive communication

14. Uses of twitter:
Application programming interfaces (APIs): Programming hooks, or guidelines published by firms that tell other programs how to get a service to perform a task such as send or receive data.
Free rider problem: When others take advantage of a user or service without providing any sort of reciprocal benefit.

15. Prediction Markets and the Wisdom of Crowds
Wisdom of crowds; Idea that a group of individuals will collectively have more insight than a single or small group of trained professionals.
Consists of untrained amateurs.
Prediction market: Polling a diverse crowd and aggregating opinions in order to form a forecast of an eventual outcome.

16. Offer a collective verdict
The “Smart” Crowd
Diverse
Decentralized
Offer a collective verdict
Independent

17. Crowdsourcing
Taking a job traditionally performed by a designated agent and outsourcing it to an undefined, generally large, group of people in the form of an open call
Leveraged by several public markets:
For innovation
As an alternative to standard means of production

18. Social Media Awareness and Response Team
Key issues behind SMART capabilities:
Creating the social media team
Establishing firm wide policies
Monitoring activity inside and outside the firm
Establishing the social media presence
Managing social media engagement and response

19. Creating the team
Social media is an interdisciplinary practice, and the team should include professionals experienced in:
Technology
Marketing
Public relations
Customer service
Law
Human resources

20. Responsibilities and Policy Setting
Social media policies revolve around three Rs: Representation, Responsibility, Respect.
Security training is a vital component of establishing social media policy.
Creating sock puppets to astroturf violates FTC rules and can result in prosecution.
Sock puppet: Fake online persona created to promote a particular point of view, product, or individual.
Astroturfing: Engineering the posting of positive comments and reviews of a firm’s product and services.
Ratings sites will penalize firms that offer incentives for positive feedback posts.

21. Online reputation management
Tracking and responding to online mentions of a product, organization, or individual
Many tools exist for monitoring social media mentions of an organization, brands, competitors, and executives.
Social media are easy to adopt and potentially easy to abuse.

22. Establishing a Presence
Embassy approach to social media has firms establish their online presence at various services with a consistent name.
Embassy: Established online presence where customers can reach and interact with the firm.
Firm’s social media embassies can be highlighted in physical space such as:
In print
On bags and packaging
On store signage

23. Engage and Respond Social media provides four Ms of engagement:
Megaphone to send out messages from the firm
Magnet to attract inbound communication
Monitoring and Mediation - Paying attention to what is happening online and selectively engage conversations when appropriate
Engagement can be public or private.