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Social Network and Social Media Technology. Kevin Schmitt Ryan Witham Group 1. Definition . Social Network-social structure that is comprised of individuals that are connected by one or more common factors

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Social network and social media technology

Social Network and Social Media Technology

Kevin Schmitt

Ryan Witham

Group 1


Definition
Definition

  • Social Network-social structure that is comprised of individuals that are connected by one or more common factors

  • Social Networking Site-web-based service that allows its members to create a public profile with their interests and allows communication with others within their network

    • Web 2.0


Definition1
Definition

  • Social Networking in Plain English



Interesting facts
Interesting Facts

  • Members

    • Facebook- 500 million (July 2010)

    • MySpace- 100 million+

    • Twitter- 175 million

    • LinkedIn- 90 million

  • 22% of all online time is dedicated to social networking

    • 110 billion minutes worldwide

  • 57% of global internet users manage a profile on a social network

    • Most active: Malaysia, Brazil, and India

  • How do social media sites generate cash flow?

    • Investments from Venture capitalist

    • Generate revenue through advertising

  • Estimated that $2.7 billion will be spent by advertisers in 2011 relating to social network ads

  • Facebook captured $1.86 billion in advertising revenue in 2010


Benefits of the social network
Benefits of the Social Network

  • It’s about who you know- expanding your personal network

  • Helps user find relevant information

    • “Word-of-mouth” recommendations

  • Businesses can make a site to market and advertise themselves for relatively no cost

    • Enhance job selection process

  • Advertisers can target only those consumers in their specific target market


  • Risks and drawbacks
    Risks and Drawbacks

    • Identify theft and fraud

    • Privacy concerns

      • Disclose personal information

      • Threat of sexual predators

    • Online bullying

    • Spyware/Malware

    • Business Productivity Losses

      • Employees on average spend 40 minutes/week

      • Estimated $2.25 billion lost every year (England)


    The future of social networking
    The future of Social Networking

    • Open Social networks

    • SocialEyes

      • Video Chat through Facebook

    • Facial Recognition

    • Twitter feeds from objects?

    • Web 3.0?

      • Semantic web




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