Social Networking: Making the Most of Web 2.0

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Social Networking: Making the Most of Web 2.0. Bill Tyson CEO, Strategic Marketing Plus, LLC http://www.thesavvystrategist.com. Web 2.0: The 5 th P of Marketing . Always on, 24 by 7 3 Drivers: Peoples desire to connect New and improved interactive technologies Online economics - PowerPoint PPT Presentation

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<p>Social Networking: Making the Most of Web 2.0</p> <p>Social Networking:Making the Most of Web 2.0Bill Tyson CEO, Strategic Marketing Plus, LLChttp://www.thesavvystrategist.com1Web 2.0: The 5th P of Marketing 2Always on, 24 by 7 3 Drivers:Peoples desire to connectNew and improved interactive technologiesOnline economicsGreat tool to amplify messages and campaigns.A few revenue models are emerging: Ad $s are shifting from Google and Yahoo to Facebook. 2What is Web 2.0? A phrase coined by Internet observer Tim OReilly, the use of almost-always-on, lightweight, intuitive Web-based services that rely on user participation and user-contributed data.3 Drivers:Peoples desire to connectNew and improved interactive technologiesOnline economicsViable Business Models are beginning to emerge that include one or more of the following: licensing agreements, ad services, subscriptions, analytics and tracking.marketing has become the soundtrack of our generation. It is setting the pulse, it is creating the rhythmnot just for what we consume, but for what we crave, what we love and what we hate.</p> <p>Types of Social Media3BloggingRSS FeedsPodcastingTextingE-CardsPhotos (flickr.com)Videos (youtube.com)Publishing</p> <p>Social NetworkingLinkedInFacebookTwitterGoogle PlusYou TubeSkypeHigh5MySpace3There are 7 Categories of Social Media.4</p> <p>But 4 Networking Sites Stand Out along with </p> <p>4</p> <p>5</p> <p>Part 1: Industry Overview</p> <p>6</p> <p>7The Power of A Link*Social capital - a sociological concept used to refer to connections within and between social networks. Swiss Army Knife - like features:Advanced Search because of the accuracy of profile information (if you lie about anything your peers, colleagues will out you), it is more powerful than Google search. Groups these community-of-interest-networks go beyond discussions and job postings enabling relationship building around common interests.Information Sharing through the use of social objects newsworthy items, not authored by you, that you can share rapidly with those you know will find it relevant.Paying it forward meaning the collective interest everyone in LinkedIn has to make useful introductions for member in their network.Mapping your network for the first time in history, you can actually map most of your network. Seehttp://inmaps.linkedinlabs.com.* The Power in a Link: Open Doors, Close Deals, and Change the Way You Do Business Using LinkedIn, by David Gowel, John Wiley &amp; Sons Hoboken, NJ 2011</p> <p>Many business leaders look at LinkedIn as Facebook in a suit. There is an extremely important distinction between Facebook and Linked In. Facebook is indeed for socializing whereas LinkedIn is all about social capital. Wikipedia defines social capital as: a sociological concept used in business, organizational behavior, political science, public health and social sciences in general to refer to connections within and between social networks. Social capital is the facilitator of commerce. LinkedIn is a game changer because of the power it provides a business person. It is like a swiss army knife with a whole host of tools that go way beyond the purely social aspect of connecting. There are plenty of reasons why this is a game changing business tool. Here are just a few that come to mind:Advanced Search because of the accuracy of profile information (if you lie about anything your peers, colleagues will out you), it is more powerful than Google search. In fact, the head of LinkedIns Product and User Experience is being run by Deep Nishar, a former Google search guy.Groups these community-of-interest-networks go beyond discussions and job postings enabling relationship building around common interests.Information Sharing through the use of social objects newsworthy items, not authored by you, that you can share rapidly with those you know will find it relevant.Paying it forward meaning the obligation placed upon everyone in LinkedIn to make introductions for and on behalf of your 1st level connections.Mapping you network for the first time in history, you can actually map most of your network. Seehttp://inmaps.linkedinlabs.com. My network at 3,500+ connections is, in fact, too large to map, but this is a really powerful aspect of LinkedIn because ultimately, you can see a tangible representation of your network. My first level connections provide a path to virtually anyone of the 14 million people in my network that I might want to connect to.</p> <p>Since there are over 150 million Linked In subscribers, given their target universe of over 500 million potential professionals, Linked In is in the Early Majority stage of the technology adoption lifecycle. So, it isnt too late for your friend to join in. I suggest you give him this book to read: The Power in A Link Open Doors, Close Deals and Change the Way You Do Business Using Linked In by David Gowel. He and I just connected this week. You can see it on my LinkedIn Profile page athttp://www.linkedin.com/in/billtyson8Why Blog?From 2009 to 2011 the percentage of businesses with a blog grew from 48% to 65%.Eighty-five percent of businesses rated their company blogs as useful, important or critical. The average budget spent on company blogs and social media increased from 9% in 2009 to 17% in 2011.Source: http://www.forbes.com/sites/kenmakovsky/2012/05/14/why-should-companies-blog/9My Experience As a BloggerDemonstrate Subject Matter ExpertiseEnhancing visibilityBuilding credibility and trustEstablishing industry expertiseThought Leadership around challenges and important issuesResourceful: Sharing valuable research Generating leads and business!</p> <p>10</p> <p>11</p> <p>12How Social Media Applies to Insurance13Humanizes the companyAnother communication channel The 5th P = ParticipationAmplification of marketing/PRCustomer feedback the good, the bad and the uglyImmediate indication and feedback on new products and campaignsSelf-promotionDefend your company (or brand) against criticsThere is a recognition in the industry that Social networking is here to stay!13Questions?14</p>