Social networking; future trends 1

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This is a presentation for Chennai Chapter of ISACA. (http://www.isaca-chennai.org/isaca/viewevent.jsp?viewid=176852)

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Social networking; future trends 1

  1. 1. Social Networking- Future Trends and Its Impact on Society and BusinessDr.K.Prabhakar-SRM University PDM-ISACA 1
  2. 2. Structure of Presentation1. Facts and Trivia2. Reality Check3. Sanity Check (Be a skeptic)4. Why Social Media5. How I use it?6. Role of Auditors PDM-ISACA 2
  3. 3. Some Facts Social Networking PDM-ISACA 3
  4. 4. PDM-ISACA 4
  5. 5. Please refer to the following site for complete data http://www.jeffbullas.com/2012/04/23/48- significant-social-media-facts-figures-and- statistics-plus-7-infographics/ PDM-ISACA 5
  6. 6. Facts about Facebook PDM-ISACA 6
  7. 7. PDM-ISACA 7
  8. 8. Facts about Facebook 250 Million Photos 2.7 billion Likes 37 million pages with 10+ likes 425 million mobile users 57% are female 43% are male Average of 20 minutes per view PDM-ISACA 8
  9. 9. Some Trivia about the Enterprise Mark Zuckerburg (CEO of Facebook) calls himself a “Harvard Graduate” when in fact he didn’t graduate (apparently his reply is that “there isn’t a setting for dropout”) Australian’s spend more time per month on Facebook than any other country at over 7 hours on average per month. Facebook was initially bank-rolled by Peter Thiel the co- founder of PayPal for $500,000. It is the second biggest website by traffic behind Google Facebook is now valued at approximately $100billion Facebook makes money through advertising and virtual products and its revenue has crossed only one billion. PDM-ISACA 9
  10. 10. Twitter Twitter is still the enigma of the social networking fraternity with its usefulness questioned by a lot of people. Its simplicity is still its main attraction along with its immediacy in breaking news about the latest ”events”. Research shows that the main reason people retweet is due to interesting content. As it approaches its sixth birthday its revenue is slowly climbing with projections that in 2012 its income will hit $260 million. PDM-ISACA 10
  11. 11. Some facts and figures about Twitter There are over 465 million accounts 175 million tweets a day 1 million accounts are added to Twitter every day Top 3 countries on Twitter are USA at 107 million, Brazil 33 million and Japan at nearly 30 million Busiest event in Twitter’s history is now “Castle in the Sky” TV screening 25,088 tweets per second (previous record was the last minutes of the 2012 Superbowl with 10,245 tweets per second). PDM-ISACA 11
  12. 12. PDM-ISACA 12
  13. 13. PDM-ISACA 13
  14. 14. Linkedin LinkedIn started in 2003 as a professional business social network and as of February 2012, has over 150 million members according to the official press release from LinkedIn. 2 new members join every second USA leads membership at more than 57 million, Europe has more than 34 million members 60% of its members live outside the USA In 2011 there were 4.2 billion professionally oriented searches on the LinkedIn platform LinkedIn now has over 2,116 employees (at the beginning of 2010 it had only 500) The fastest growing demographics are students and recent college graduates Revenues for 2011 reached $522 million LinkedIn is the 36th most visited website in the world PDM-ISACA 14
  15. 15. Do you remember ORKUT? PDM-ISACA 15
  16. 16. Google+ It is expected that Google’s new social network Google+ will hit 400 million users by the end of 2012. It needs to be kept in mind that Google+ is more about being “core” to Google’s social web strategy as it aims to embed social signals into its whole web and search strategy as it aims to continue to be relevant in an increasingly social and mobile web. Google makes it mandatory to join Google+ when you register for a Gmail account which really amounts to it being a forced membership. This non organic strategy means that its engagement levels are extremely low at 3 minutes per month compared to Facebook at 405 minutes, in fact they are less than MySpace. It must be also kept in mind that Google+ is the glue that connects Google’s other social and web properties such as YouTube, Android and of course search. PDM-ISACA 16
  17. 17. Some Google+ Facts and Figures It was launched on June 28, 2011 Google+ reached 10 million users by July 14, 2011 67% of Google+ users are male Google “+1″ button is served more than 5 billion times daily It is gaining 625,000 users per day In less than one day the Google+ iPhone app became the most popular free application in the Apple App store PDM-ISACA 17
  18. 18. Youtube 3rd most visited website according to Alexa 2 billion views per day It handles 10% of the internet’s traffic Average YouTube user spends 900 seconds per day 44% of YouTube’s users are aged between 12 and 34 Over 829,000 videos are uploaded every day Average video duration is 2 minutes 46 seconds PDM-ISACA 18
  19. 19. Instagram Instagram on the surface appears very simple. It is an app for your mobile phone that allows you to take a photo, apply a filter to make it look awesome and then you can share it on Twitter, Facebook or to your email straight from the phone. The headline about this social network was its acquisition for $1 billion by Facebook. This was despite the fact that it hadn’t made a dollar of profit. Despite this sizable investment it could be a very strategic and savvy move by Facebook that confirms its crown as the top photo site in the world. It also reminds me of Google’s purchase of YouTube for $1.65 billion in 2006 which proved to be a great decision in hindsight. PDM-ISACA 19
  20. 20. PDM-ISACA 20
  21. 21. Some Facts Founded in March 2010 with the initial name of “Burbn” by Kevin Systrom and Mike Kreiger with the $500,000 in seed funding. It was launched in the Apple “app” store in November of 2010. In February of 2011 they raised an additional $7 million including an investor called Jack Dorsey of Twitter fame. Zero revenue model. Instagram reached the milestone of 1 million users in December 2010 (only 9 months after being founded and only 1 month after going live in the Apple “app” store) with zero marketing costs. In August 2011 Instagram users had uploaded 150 million photos 10 million users were using the app by September 2011 Version 2.0 released including high resolution photo capability The release of the Android app version saw 1 million downloads in 1 day! April 2012, Instagram reaches the new milestone of 30 million users PDM-ISACA 21
  22. 22. Pinterest It appears that simple ideas are sometimes the best. Twitter is a minimalist 14o character social network, Instagram is a simple social sharing photo sharing app and Pintrest is about pinning images and videos that you like to an online pin board. Maybe it is evidence of a cry for simplicity and efficiency in a time poor society. Pinterest was established in December 2009 and launched as a closed beta in March 2010. It is barely 2 years old. It wasn’t until the beginning of 2011 that it reached 10,000 users. Its breakthrough moment appears to be the inclusion in Time magazine’s “50 Best Websites of 2011” PDM-ISACA 22
  23. 23. Pinterest Some more Pinterest Facts and Figures December of 2011 Pinterest became one of the top 10 largest social networks with 11 million visits per week In January it was driving more referral traffic traffic to retailers than LinkedIn, YouTube and Google+ Over 10.4 million registered users Nearly 12 million monthly unique vistors Most of the sites users are female 97% of the site’s Facebook “likes” are by females It is the fastest site in history to break through the 10 million unique visitor mark PDM-ISACA 23
  24. 24. PDM-ISACA 24
  25. 25. What it means for Business? PDM-ISACA 25
  26. 26. Peek Analytics (http://www.peekyou.com) Name Pull (X) Total Audience Identified Consumer Count Consumer Ratio Chris Brogan 2,859 193,999 115,810 59% Ann Handley 2,788 111,619 64,305 57% Gary 906,833 376,149 41% Robert Scoble 2,089 220,062 114,630 52% Scott Stratten 2,079 108,497 69,060 63% Reg Saddler 1,839 151,673 75,941 50% Jason Falls 1,821 45,859 30,815 67% Scott Monty 1,776 63,436 38,815 61% Mari Smith 1,651 127,973 71,591 55% Pam Moore 1,458 66,618 38,322 57% That list looks different if you include the wider social network of their followers. For example Ann Handley’s followers have a substantially larger average social network size than Chris Brogan’s followers. PDM-ISACA 26
  27. 27. Is blogging still relevant? Writing a blog provides an opportunity to establish oneself as thought leader. On your blog, you can share your expertise and know-how with your audience. A blog can be a basis of your social media strategy. A blog provides you with a flexible platform that can be easily connected to other channels to drive traffic both in and out of your blog posts. Since there are less limitations on the size and format of content you can provide a greater context than you are able to do on Facebook or Twitter. Blog content has a longer shelf life. Unlike content on Facebook and Twitter that only appears for a few minutes or hours, blog posts can continue to bring in traffic even days, weeks and months after they are published. A blog can serve as an alternative to a web site. If you are thinking of establishing a web presence for your organization, a business blog may be a more palatable, cheaper alternative than a full blown website. PDM-ISACA 27
  28. 28. What experts say Blogging is absolutely still relevant, and more important than ever as part of a cohesive content strategy. Social media sites like Facebook and Instagram are all spokes that should ideally lead back to your own brand. Blogs are one of the best ways to create a central hub to which all your social media spokes lead. Great content is the backbone of social media, and you need somewhere to house your content. That most often takes the form of a blog. Shane Snow - contently.com Shane Snow is Co-Founder of Contently, a NYC based startups that connects brands with great writers. (http://www.zemanta.com/is-bloging-still-relevant-media- for-web-audience/) PDM-ISACA 28
  29. 29. Reality Check PDM-ISACA 29
  30. 30. Why this medium becomes so powerful? President Obama’s victory is attributed to his campaign in the social media. It helped in Middle East Revolution. Occupy Wall Street has become a world wide phenomena. Anna Hazare’s anti corruption got a boost from social media. PDM-ISACA 30
  31. 31. Power of Context Globalization Changes in Demographics Rise in Global Inequalities Global migration Empowerment of women Anomies Disbelief in advertisements and organizations Trust Boredom at work PDM-ISACA 31
  32. 32. Why social networking is sopowerful to influence causes? PDM-ISACA 32
  33. 33. Law of Few Few people take up a cause with total passion. Examples: Anna Hazare and his team, Eqitas in Chennai, Pragathinagar in Hyderabad, Occupy Wall Street The few people approximately have 150 followers, called as Dunbar number. I have taken takes ideas from the book Tipping Point (http://en.wikipedia.org/wiki/The_Tipping_Point) PDM-ISACA 33
  34. 34. Stickiness Factor The digital and mobile environment provide the needed stickiness. PDM-ISACA 34
  35. 35. Connectors Connectors are those who have ties in different realms and act as conduits to engender connections, relationships and cross fertilization of ideas. PDM-ISACA 35
  36. 36. Mavens Mavens are the people who have strong compulsion to help others to make correct decisions. Even at their own cost. PDM-ISACA 36
  37. 37. Sanity Check PDM-ISACA 37
  38. 38. Tipping Point is created by the presence of these antecedent factors. It is not created by Twitter or Facebook. It is not twitter revolution, it isrevolutions helped by twitter or any social network site. PDM-ISACA 38
  39. 39. Why Social Media for Business and Society? PDM-ISACA 39
  40. 40. System dynamics view Price determination in economics is by intersection of demand and supply. In reality it is not so. We are not in continuous adjustment. We are live in friction. Things do not change as fast in order to reach equilibrium. PDM-ISACA 40
  41. 41. Analogy of Sandpile Large systems are like sand piles. Few grains added change the local structure. After some time added grains cause avalanche. The avalanches that we see make the difference for culture and business with respect to social networking. PDM-ISACA 41
  42. 42. Thank you Q and A If you have any questions please do contact profkprabhakar@gmail.com Cell: 9790701612 PDM-ISACA 42

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