SOCIAL NETWORKING SITES & BUSINESS PRESENTED BY, SOP 18 SREELATHA S NAIR KIRAN BABU SINTO K A SYAM PRASASD VISHNU MENON
WHAT IS A SOCIAL NETWORKING SITE? Web based services that allow individuals to construct a public profile within a bounded system. Identify other users with whom they share a connection. View and traverse their list of connections and those made by others within the system. Internal(private) External(public)
HISTORY OF SNSTHE EARLY YEARS…SIX DEGREES 1st recognizable social network site launched in 1997 – sixdegrees.com Allowed creation of profiles and listing friends Helped to send messages and attracted millions of users 2000-service closed
HISTORY (CONT.)FRIENDSTER Launched in 2002 Designed to compete with Match.com Gained wide popularity Later on encountered technical and social difficulties 2000 onwards many new SNSs were launched. While socially organized SNSs solicit broad audiences, professional sites such as LinkedIn, Visible path and Xing focus on business people.
HISTORY (CONT.)MYSPACE Begun in 2003 Regularly added new features Teenagers joined in mass in 2004 User policy allows minors Safety issues plagued MySpace after 2005
HISTORY (CONT.)FACEBOOK Started in early 2004 as a Harvard only SNS Gradually spread to schools, colleges, institutions, professionals inside corporate networks and eventually everyone Users are unable to make full profile public Features differentiating FB
ADVANTAGES OF SNS Virtual platform for communication & information sharing More acceptability A single connection to multiple connections Builds brand awareness Low cost publicity Increases marketing effectiveness Access market in real time
ADVANTAGES (CONTD.) Makes people with common interest under one roof Taking word of mouth to another level communication Open environment – Easy gathering of right customers Research platform
DISADVANTAGES OF SNS Lack of Anonymity Scams Harassments Lack of privacy Chance of loss of personal data Time consuming
BUSINESS OUTLOOK WITH SNS Effective on SNS personal users Direct connection with World- Wide Customers Business Networking & Expansion Important Marketing Tool Entertainment Marketing Low Cost publicity
EFFECT ON SNS PERSONAL USERS 63% of total internet users uses SNS for personnel purposes Unaware about manual marketing More effective in this particular group
DIRECT CONNECTION WITH WORLD WIDE CUSTOMERS Rise of internet marketing Considers SNS marketing as best direct communication No barriers regarding places or countries World communication under one umbrella Comfortable feedback device E.g.: Virgin Train & Twitter
MARKETING TOOL Chance to make trail experiments Researching tool Single networking system Low cost Attracts customers by discount coupons E.g.: Dell & Twitter generates 6.5 million $
MAJOR SOCIAL NETWORKING SITES FACEBOOK TWITTER MYSPACE NING GOOGLE PLUS
FACEBOOK Launched in February 2004, operated and privately owned by Facebook, Inc. 700 million monthly users Facebook was founded by Mark Zuckerberg with his college roommates and fellow computer science students In January 2009 Compete.com study ranked Facebook as the most used social networking service by worldwide monthly active users. Most of Facebooks revenue comes from advertising. Microsoft is Facebooks exclusive partner for serving banner advertising
Created in March 2006 by Jack Dorsey Online social networking and micro blogging service, enables its users to send and read text-based posts of up to 140 characters. 200 million users in 2011, generating over 200 million tweets and handling over 1.6 billion search queries per day. SMS of the Internet.
Launched in August 2003 and is headquartered in Beverly Hills, California. Owned by Specific Media LLC and pop star Justin Timberlake. 80 million monthly users From 2005 until early 2008, Myspace was the most visited social networking site in the world. In June 2006 Google surpassed myspace But on April 19, 2008, Facebook overtook Myspace in the Alexa rankings
Online platform for people and organizations to create custom social networks Launched in October 2005 Offers customers the ability to create a community website with a customized appearance and feel. There are over 90,000 (as of June 2011) social websites, known as Ning Networks, running on the Ning Platform. As of June 2011, Ning has 65 million monthly unique visitors globally on its platform Ning was co-founded by Marc Andreessen and Gina Bianchins. On September 21, 2011, the company announced its merger with Glam Media.
GOOGLE PLUS A social network operated by Google. Launched on June 28th, 2011 with integrations across a number of Google products, including Buzz and Profiles. Key element is ‘CIRCLES’ I t has a section specifically for viewing, managing and editing multimedia ‘Hangout Feature’
SOME BUSINESS SNS XING RYZE LINKEDIN ECADEMY
XING 11 million member Professionals meet up, find jobs, generate ideas Available in 16 languages 5000 specialist groups www.xing.com
RYZE 5,00,000+ users,200 countries Helps people make connections and grow their networks Build career, find job, make sales Networking among business firms www.ryze.com
LINKEDIN Launched in may 2003 120 million registered users,200+ countries Available in 9 languages 10 million+ members from India More than 2 million companies have LinkedIn pages For building professional business relationships Formal communication www.linkedin.com/
ECADEMY Began in 1998 1,00,000+ members Meant for business owners and entrepreneurs Simple learning steps-know me, like me, follow me
SOME FACTS ABOUT SNS 70% SNS users access SNS everyday According to telecom regulatory authority of India, there are 83 million internet users in India Mobile devices comes with a built in SNS SNS through mobiles expected to reach 72 million by 2014 SNS is a fast emerging medium for seeking information
COMPANIES THAT SUCCESSFULLY MADEUSE OF SNS1) JET AIRWAYS Launched their facebook page in January,2010 (www.facebook.com/jetairways) Extended its presence to LinkedIn & foursquare(a location based mobile SNS) Saw an immense response,1.5 lakh fans
2)MARUTI SUZUKI largest selling automobile manufacturer in INDIA Common man’s first preference Maruti’s Brands in SNS – SX4, SWIFT DESIRE, RITZ, ALTO, A STAR Targeted youth who spends time in SNS3)MAX NEWYORK LIFE INSURANCE Started an SNS page to attract customers and answer to their queries
4)HBO – Largest fan base in entertainment channels category ADIDAS took over from NIKE & REEBOK during 2011 Leads with 7 lakh+ fans5) Warner Bros. Launched ‘batman’ in facebook Viewed with the help of facebook credits
SNS AS A BUSINESS TOOL Seeking and exchanging of information interaction with customers building relationship and trust improving internal communication business performance More valuable connection with customers branding Comparatively cheaper means of brand promotion
POINTS TO BE CONSIDERED Understand the fundamentals of communication and technology Never create pages just on the buzz Have knowledge on SNS marketing Have to be more about conversations than declarations Should involve free expression and & relationship building Has to be frequently updated Should use SNS with traditional means of Marketing intelligence and communication
SNS AS A BUSINESS TOOL(CONT.) Competitive insights Recruitment and retention of customers & business partners Reputation building Helps to gain customer support Helps to handle complaints, questions and delivers real time solutions Influences revenue & market shares
CONCLUSION In this present age of increased consumerism, business are trying to bring in new strategies to attract customers. As a result, the relevance and use of social media by the business has been on a rise in the recent years. It’s a cheaper marketing strategy Consumers promote the brand Forms an important part of a ‘netizens’ life SNS has been the most desirable platform to share and connect with friends, family or online community at large.