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Entrepreneurship at Social Networks

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Entrepreneurship= Value Creation

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Entrepreneurship at Social Networks

  1. 1. EEnnttrreepprreenneeuurrsshhiipp aatt SSoocciiaall NNeettwwoorrkkss Saeed Rouhani SSeemmiinnaarr BByy DDrr.. SSaaeeeedd RRoouuhhaannii JJuullyy 22001144
  2. 2. Saeed Rouhani Introduction: Social media or Social Networking • Social media can be characterized as: “online applications, Network Network platforms and media which aim to facilitate Social Social interactions, collaborations and the sharing of content” (Universal Maccann International, 2008, p. 10). Weblog Weblog WiKi WiKi Podcast Forum Micro Blog Micro Blog Community Life Second Life
  3. 3. Saeed Rouhani Introduction: Social media or Social Networking • Social Network is “the label attached to any consumer-initiated communication with other consumers who share an interest and use the world wide web as a platform for creating a community” (Quinton and Harridge-March, 2010).
  4. 4. Saeed Rouhani History • Geocities (1994) • THEGLOBE.COM (1995) • AOL Instant Messenger (1997) • SIXDEGREES.COM (1997)
  5. 5. Saeed Rouhani History • Friendster (2002) • MySpace (2003) • Facebook (2004) • Twitter (2006)
  6. 6. What is Social Networks Used for? Saeed Rouhani
  7. 7. Saeed Rouhani Core concepts of social media Core concepts of social media (Kangas et al., 2007)
  8. 8. Some Weird Effects of Social Media on Saeed Rouhani Our Brain • It might make you spend more money: New research suggests that heavy social media use might be correlated to lower self-control, which marketing experts believe could lead to higher spending.
  9. 9. Saeed Rouhani Some Weird Effects of Social Media on Our Brain • It alters your appetite: One study suggests that even looking at food images after a meal can trigger hunger.
  10. 10. Saeed Rouhani Some Weird Effects of Social Media on Our Brain • It messes with your ability to think independently : Subjects were more likely to change their minds about "liking" certain things if enough time had passed and they could see that the other side was even moderately popular.
  11. 11. Saeed Rouhani Some Weird Effects of Social Media on Our Brain • It hurts your self-esteem: Researchers discovered that one in three people surveyed felt worse after spending time on Facebook, often due to perceived inadequacies when comparing themselves to friends
  12. 12. Saeed Rouhani • Why social media marketing? Your competition is doing it • Your customers are using it • Your vendors and partners are using it - Todd Malicoat, Stuntdubl
  13. 13. What Prospects Want and Social Media Delivers Prospects Delivery •Identity (they know you exist) •Authority (they can see your capabilities) •Interaction (you can communicate directly) 1 Source: Greenfield/Belser, from Larry Bodine, “Executives Rely on Internet to Find Lawyers” 2 Source: New York State Bar Association Journal 9/09, from http://www.lexisnexis.com/law-firm-marketing/online-marketing-power/ Saeed Rouhani of business decision-makers search for Professionals online.1 of consumers begin Service search using search engines, websites and social media.2 78% 65%
  14. 14. Small Law Firms are the Biggest Plan to use social media Rely on social media for new business Say social media is extremely important Saeed Rouhani Social Media Pros In small firms Percentage who: Source: Vizibility/LexisNexis Survey, “Use of Social Media in Legal Marketing,” law firms with 1-5 lawyers, response to question 1 91% 71% 59%
  15. 15. What Social Media Tools Do Small Saeed Rouhani Firms Prefer? Professional social networks (LinkedIn) Blogs Twitter Consumer social networks (Facebook, Google+) Video networks (YouTube, Vimeo) Source: Vizibility/LexisNexis Survey, “Use of Social Media in Legal Marketing,” law firms with 1-5 lawyers, response to question 4 90% 88% 73% 68% 51%
  16. 16. Saeed Rouhani Business models of SNs (Rappa, 2010)
  17. 17. Saeed Rouhani Business models of SNs (Rappa, 2010)
  18. 18. Saeed Rouhani Business Model for SNs SNs Xiaoyan Hu, 2011
  19. 19. Saeed Rouhani Value Creation at SNs • Value comes from source • Source of SNs are Data • In the new framework, the major components are based on Osterwalder’s (2002) four pillars ontology for e-commerce which consists of production innovation, infrastructure management, customer relationship, and financial aspects. • Virtual goods channel
  20. 20. Saeed Rouhani EEnnttrreepprreenneeuurrsshhiipp== VVaalluuee CCrreeaattiioonn • framework for making money”
  21. 21. Saeed Rouhani Recommendation for BM • Data Mining for personalization & offering. – (Classification/Prediction) • Data Mining for firms & brands – (Clustering/Classification) • Data Mining for cross selling – (Association rules) • Process Mining for service design – Alpha algorithm, graph theory
  22. 22. Saeed Rouhani Appendix About Social Networks
  23. 23. Saeed Rouhani Facebook • Facebook reports over 500 million active users. • If it were a country, Facebook would be the third largest nation in the world, lagging behind only China and India. • Half of those “citizens” log in every day—that’s 250 million people using the site on a daily basis.
  24. 24. Saeed Rouhani Facebook (Cont’) • A Facebook user has 130 friends, is connected to 80 Pages, Groups, and Events, and has created 90 pieces of content. Where else could you find someone who talks to over 100 people a day?
  25. 25. Saeed Rouhani Twitter • 3 years, 2 months and 1 day. The time it took from the first Tweet to the billionth Tweet. • 1 week. The time it now takes for users to send a billion Tweets. • 50 million. The average number of Tweets people sent per day, one year ago. • 140 million. The average number of Tweets people sent per day, in the last month. • 177 million. Tweets sent on March 11, 2011.
  26. 26. Saeed Rouhani Twitter (Cont’) • 456. Tweets per second (TPS) when Michael Jackson died on June 25, 2009 (a record at that time). • 6,939. Current TPS record • 572,000. Number of new Twitter accounts created on March 12, 2011. • 460,000. Average number of new Twitter accounts per day over the last month. • 182%. Increase in number of mobile Twitter users over the past year.
  27. 27. Saeed Rouhani Youtube • Created in 2007 • 48 hours of video are uploaded every minute, resulting in nearly 8 years of content uploaded every day • Over 3 billion videos are viewed a day • Users upload the equivalent of 240,000 full-length films every week • More video is uploaded to YouTube in one month than the 3 major US networks created in 60 years • YouTube reached over 700 billion playbacks in 2010 • 800M unique users visit YouTube each month
  28. 28. Saeed Rouhani
  29. 29. Saeed Rouhani Thank You

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