The Evolution of Businesses through Social Networks
Social Networks: web-based services that allow individuals
to connect on the basis of friendship, common interests or
First social network: Sixdegrees.com (1997)
Sixdegrees allowed users to create a profile, list their friends
and surf the Friends list.
Latest social network: Twitter (2006)
Twitter: it is a micro-blogging, social messaging, event
coordinator, business tool, news reporting service and
Marketing strategy where marketers put their message
out far and wide hoping that it resonates “with that
needle in the haystack.”
Old style way of promoting a product, company or
image focused on finding the consumer.
Outbound techniques include: trade shows, seminar
series, internal cold calling, telemarketing, billboards
and radio and magazine advertisements.
Ineffectiveness of Outbound
More creative ways to block them out: caller id, spam
filtering, Tivo and Sirius satellite radio
The cost is 60% higher compared to that of using
Marketing focused on getting found by consumers through the
use of social networks such as Twitter, Facebook, Linkedin and
Why use social networks to market a business?
1. Less expensive: inbound marketing only involves creating
content and talking about through blogs, Twitter, Facebook or
any other social network.
2. Better Targeting: the people that click through your site have
already self-selected themselves as potential customers and
are more likely to buy.
3. It’s viral: as soon as someone expresses interest in your
content, their friends are invited to do the same- the power of
The Power of Social Networks
Through the use of social media and search engine
optimization, Gary Vaynerchuck was able to transform
a $4 million New Jersey liquor store into a $50 million-
a-year business in only two years. He launched in
2006 the Wine Library TV.
Small businesses: If you have a great product and skills
to communicate with your customers, you can compete
as if you had the biggest advertising budget.
Top Social Networks used to
Facebook: requires businesses to create a page to promote their products or
LinkedIn: allows companies to create their own profile, add networks of
connections, ask consumers about the types of business they are looking for,
get referrals from their network and join and participate in groups that will
attract public exposure.
Twitter: companies will post about their accomplishments and distribute links
that take back to corporate web pages, press releases and other promotional
Youtube: businesses can create “how to” videos in support of their products or
advertisement videos of some aspects of their business.
Digg: gives members the opportunity to discover, select, share and discuss.
Therefore, submitting company blog sites or informational support sites can
bring attention to companies.
Network that connects talent, companies and services.
Four basic functions: post job listings or resumes, find a job,
build a portfolio or promote a business.
Enables users to find individuals, companies, resources for
any aspect of the creative marketplace.
Individuals can post resumes, portfolios or job-wanted
Companies can post information about capabilities and
Social networking sites provide opportunities for
businesses to gain exposure, advertise their products
and services, network with potential customers and
suppliers and recruit people or partners to improve their
Immediate and interactive way in which companies can
get their content or message out quickly and get
ROI: return on investment
B2C: businesses serving consumers with products or
B2B: commerce transactions between businesses.