The Future Of Social Networks

The Future Of Social Networks: Where We Are Today Charlene Li Altimeter Group January 22, 2008

Social networks will be like air

This more than just about “social networking sites”

Your friends will be where ever you need them Friends’ Reviews

Social media content appears in other channels Current TV added Twitter posts into its coverage of the presidential debates as well as the Inauguration

Universal identity and sign-in

Eliminates “re-friending” TheInsider.com allows users to bring in their Facebook friends Avoids building yet another siloed social network

Profiles where they are useful LinkedIn plug-in for IBM Lotus Notes integrates profiles directly into email

Your friends’ activities in context around “objects” with GetGlue

The same toolbar appears on IMDb

The toolbar shows Chris’s comments from Wikipedia

Two sets of rules/standards exist Facebook Connect includes protocols for sharing identity, contacts, and content
Consortium of players including Google, MySpace, Plaxo, and Yahoo! are following standards, for example:
MySpace ID
Google Friend Connect
LinkedIn Applications

But how do you make money?

How marketing and advertising has evolved
Content targeting to reach demographics
Sports = young men in their 20’s
Search marketing to uncover intent
Behavioral targeting to build a rich profile across sites
You’re a car buyer if you visit multiple car sites
So you’ll see more car ads while reading news
E.g. Tacoda

The current state of social networking advertising Traditional ads, standard IAB units

Ads tucked in to push “fanning”

How advertising will innovate
New ad formats within social networking sites
Rich social profiles identifying “Influencers”
Tapping communication patterns to find “network neighbors”

New ad formats within social networking sites Facebook virtual gift, social, and engagement ads BuddyMedia social app-vertisement SocialVibe profile sponsorships

The Perfect (Data) Storm feeds rich profiles
Social graphs and interests
Explicit friends
Culture of sharing
Content creation, tagging, and lifestreaming
Behavior
Location, browsing and search history, purchases, interests
Basic communications
Email, IM, SMS, Twitter

Extract social graph data
- Figure who in a network responds to an offer
Create rich profiles, including demos, interests, behavior
Find others like them in the network
Can also target outside social networks themselves
Also identify “Influencers” who connected AND share
Vendors include:
33Across
Lotame
Media6 Degrees
Unbound Technologies

Communications can also fill in the social graph profile

Google already tracks who you email the most

Media6 identifies who is closest to you – your “network neighbor” “ Lisa” buys on NineWest.com Media6 maps “network neighbors” based on visits to profile sites via browser cookies (no PII involved) 2 1 3 NineWest ads are shown to Lisa’s closest friends, without identifying or involving Lisa

Privacy and permission considerations
People will demand greater control over when, where, and how their social profiles, contacts, and content can be used
Detailed permissions – sometimes on a friend-by-friend basis – will be required
A usability nightmare
Need to “retrofit” old friends numbering in the thousands

How things will develop in 2009-10
Experiments in social media advertising, waiting for turnaround
Yahoo!, Google, Microsoft/Hotmail will test social media integration with Webmail products
Facebook Connect gains traction w/media cos and begins to monetize with an ad network
Social shopping experiments start (retailers integrating social network data)

How to prepare
Identify where social network data and content can/should be integrated on your site
Leverage existing identity and social graphs where your audience already is, e.g. Facebook Connect
Get your privacy and permission policies and processes aligned with an open strategy
Find your trust agents
“ In Google I trust”, or will it be Facebook?

Summary
Social networks will be like air
Open networks will be the new norm, so consider how you will open your business

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The Future Of Social Networks

by Charlene Li on Jan 23, 2009

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