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BUSINESS SOCIAL NETWORK <br />ADVERTISING AND PROMOTION<br />BY DEREK PEACOCK<br />11-30-08<br />OUTLINE<br /><ul><li>Introduction

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Company Social Network

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Goals

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Promotional Campaign

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Conclusion

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Advertising

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Company Social Network

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Over All Goals

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Promotional Campaign

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Conclusion

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Promotions

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Company Social Network

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Goals

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Promotional Campaign

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Conclusion

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Goals

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Company Social Network

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Goals

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Promotional Campaign

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Conclusion

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Conclusion

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References</li></ul>INTRODUCTION<br />Today many companies are moving from a traditional website model to a social network design community. An online social network is a great avenue for developing an advertising and promotion campaign for a company or service. These websites are different from traditional websites as advertising for social networks utilizes concepts such as socializing, career and business opportunities, romantic matchmaking and reconnecting people. The social network industry’s income is derived primarily from advertising. <br />In order to understand company’s social network it’s important to know the primary focus of the company. This focus differs from a traditional company’s website that gives company information, an online store or shopping cart, and contact information. A social network is entirely driven by a community of loyal members interacting upon relationships with one another. These members are using group forms, uploading photos and videos, and have unlimited amounts of associates with a common interest, product, or service. <br />During the promotional campaign, advertising for the contact information using both print and digital media means must be developed and implemented with a targeted plan. Using mass advertising methods such as magazines, newsletters, flyers, posters, brochures, and direct mail the grass roots community is directing the potential member to the company website. Once potential members join they are able to sign up and enter critical contact information. At that point messages are electronically delivered quickly and affordably to each member. Each new member then receives the messages directly to their personal page in video ads, web banners, email blasts, and group discussions. Thus the new members are quickly assimilated into the social network as their interests are rapidly and consecutively targeted. <br />A business social network has many overall goals, which includes selling products and services while driving additional traffic to the site. This keeps the existing members coming back several for different reasons. Successful promotional ideas for a business social network promotion include entertaining media contests such as live video feeds, uploading personal and professional video content, photos, audio, and content that involves community members voting. To keep the community updated on new media use web feed (RSS), and dashboard applications one can send real time information to members’ cell phones and computers. Also, a continuous application upgrading of the site is an effective way to keep visitors coming back. <br />Online social networks generate billions of dollar in advertising sales each year. Companies primarily generate revenue from products and services sales. Currently companies are designing their own social networks to sell products, services, and advertising space to lifetime customer members. <br />ADVERTISING<br />Companies today are designing social networks instead of a traditional website because the company wants to develop a relationship with each member while generating additional revenue. To start a social network a company must develop the social network advertising tools, and then start a promotional campaign. The campaign then is focused on the sales of products and services that each user has a common interest in signing up for and utilizing. <br />The company should always use diverse types of media to advertise and promote the message of the social network. The different types of media promotions can include print materials such as magazine advertisements, newsletters, flyers, brochures, posters, and press releases within the target market community. The print media should always direct customers to a website where they can sign up and enter their demographic contact information.<br />Another type of advertising method for the social network is digital media. Digital media is always extremely cost effective because the exposure is vast. Digital media includes audio use for radio, video used for television broadcasting, cellular phone text messaging, and website that utilize social networks. RSS feeds and dashboards are other forms of digital media that are effective used as well. <br />Companies must use each of these diverse means of media types to reach a wide variety of customers. They can be easy to distribute but also have advantages and disadvantages. Some media disadvantages are that print work is very expensive, and has a longer shelf time. One advantage of digital media is that it is inexpensive, has easy exposure, and quick response time. The drawback is that it must be upgraded on a regular, frequent basis. Companies will not have negative consequences by using a combination of diverse media methods. <br />The company’s main objective for advertising is to bring awareness to the social network to sell products, services and advertising space. The company does this by relaying the message through various methods of media such as print and digital media. Each type of material should describe all services offered and direct the customer to a website for additional valuable information.<br />PROMOTIONS<br />A business must promote the social network to attract visitors, members, and consequently the consumer purchases from the effective advertising campaign. The overall goal is to sell products, services and advertising space while keeping the existing member involved in the website. Example of ways to successfully carry out these type of promotions are to hold a media contest such as best video, best photo, or best audio getting the community members involved in voting and recruiting. Through this process the community gains membership and generates revenue. <br />The promotional campaign should have a substantial attractive value such as money or prizes. Products and services are great gifts because the winner may continually purchase or endorse the prize both by word of mouth and online forms. There maybe some disadvantage if the winner does not like the prize and tells the online community about their experience. The company must always focus on customer relationship management if utilizing this type of promotion.<br />Successful examples of promotional campaigns are video and photo contests. The contest should be exciting enough that the participants will advertise for the company as they tell their friends and associates to vote for them. Consequently the contacts are made to sign up on the social network site and this drives astronomical amounts of traffic to the website. This in return will generate exponential amounts of awareness for not only the first promotional campaign, but future campaigns as well. <br />When executing the promotion strategy the companies use all types of media including print and digital to promote the message. Initially a company starts with word of mouth and print media materials. Although it may be costly, they frequently purchase advertising in magazines, distribute flyers and participate in direct mail to and online forms to initialize the campaign. <br />Many social networks capitalize on the demographic target market for a promotional campaign that markets to teenagers and young adult. This is because they are more involved with technology and understand the medias to greater extent than the more mature target markets. Also, the younger demographic groups they tend to gravitate more toward social networks. <br />OVER ALL GOALS<br />The business social network’s overall goal is to generate income from as many different means of revenue streams as possible. This includes the selling company products, services, and advertising space. Advertising space should be sold from both video and banner space on the social network. <br /> The main purpose for the company community is to drive huge amounts of traffic to the website to sell products and services. The process makes each of its members sign up. Thus the company is receiving a double op-in and keeps the existing members coming back as they marketing tactics are utilized to the fullest extent.<br />The company’s products can be sold through an online store or shopping cart. Most business use paypal and credit terminals to collect funds. These online sites make it easy for the visitors and its involved members to purchase products, services, and even advertising space form the site by simply using an email address or member login identification. Also it is very easy and cost efficient to the company to integrate the shopping cart into the social network. <br />To start selling ads, Google ads are the most popular and profitable way for the social network to begin generating revenue. The company’s social network will generate revenue with advertisement and promotions within the videos and banners. Top, bottom, and side ad banners can contain different products and service ads once the community has enough members to generate income. <br />The business social network promotion ultimately drives huge amounts of traffic to the site. Each community members will upload there own video, photo, and audio to the site. The average community member will also invite all of their friends to vote sending more traffic to the site. <br />The business social network’s community will need to be updated frequently. Using widgets, RSS feeds, and different dashboard application not only increases traffic, but makes unique features that users will enjoy utilizing. Even if the member doesn’t return for frequently use the site these applications can continually send upgrading information to the community. This is an effective and efficient way to market to members who haven’t returned to the online community.<br />CONCLUSION <br />Many companies are now designing online social networks for products and services resulting in new dimensions of media revenue. These online communities make advertising and promoting easier and faster then ever before. Companies can generate more revenue through product sales, services sales, and advertising sales. The company’s online social network will build a community of loyal customers that they can advertise and promote to over an extensive relationship. By using new technology that upgrades their site this insures that members continue to frequently visit the social network and purchase products and services while engaging in the value of a social network community. <br />REFERENCE<br />Arun Radhakrishnan. (September 23rd, 2007). Think.MTV.com: Social network Retrieved 12, 14, 2008, http://blogs.techrepublic.com.com/tech-news/?p=1218<br />Jason Hiner. (June 24th, 2008). Video: Beware of users addicted to social networking sites, Social Networking,<br />Retrieved 12, 14, 2008, http://blogs.techrepublic.com.com/hiner/?p=753<br />Sanjeev Pandey. (September 9th, 2008). New Forms of Advertising: Social Network, Social Networking,<br />Retrieved 12, 14, 2008, http://www.articlesbase.com/online-promotion-articles/new-forms-of-advertising-social-network-567255.html<br />David Weir. (April 1st, 2008). Google, MySpace, Facebook Lead New Media Globalization, Retrieved 12, 14, 2008, http://blogs.bnet.com/intercom/?p=1725&tag=content;col1<br />Adam L. Penenberg. (May 2008). Ning's Infinite Ambition, Retrieved 12, 14, 2008, http://www.fastcompany.com/magazine/125/nings-infinite-ambition.html<br />Paul Chaney. (March 17, 2008). Social Networking: Build Your Own Community, Retrieved 12, 14, 2008, http://www.practicalecommerce.com/articles/696-Social-Networking-Build-Your-Own-Community<br />