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Vertical Social Networks

Overview of vertical social networks space and business models for the Professions Go Social Session at SXSWi 2013

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Vertical Social Networks

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  1. Setting the Stage for Vertical Social Networks Rebecca Lieb, Industry Analyst @lieblink@altimetergroup | #B2BSocial

  2. Who here has heard of vertical social networks? Q

  3. Who here uses vertical social networks? Q

  4. Vertical Social Networks well poised as the most credible info source

  5. Agenda Defining VSNs Community-Driven Content Robust Community Workflow Applications Business Models Case Example

  6. Vertical vs. Horizontal Highly segmented user base Specific topics covered in depth High specialization Generally more private, gated Highly diverse user base Broad topical range Low specialization Less public privacy

  7. Vertical Networks – “Socializing” Business Functions Dev R&D HR IT Fin Med ... Industry Specific Networks Where IT Goes to Work Professional Network Personal Network

  8. Community-Driven Content Community members generate the bulk of site content and drive site interaction Learnisthas been described as the ‘Pinterest’ for education, enabling users to add blogs, feeds, video, podcasts, comments, votes, etc. to “Learnboards” in order to quickly create lessons and course units.

  9. Robust Community A concentrated and highly specialized community, with shared issues, interests, and connections GovLoop is a platform of more than 60,000 public sector professionals dedicated to best-practice/blog/resource sharing, finding career opportunities, training, and connecting with other government workers.

  10. Workflow Applications Providing tools and content to enable professionals/members better accomplish their work/goals Medical professional network, Doximity offers all members secure digital fax lines, accessible via web and mobile. It also enables secure messaging and search between colleagues and other providers.

  11. VSNs: The Business Case Possible business models selling to brands and advertisers Marketing solutions Advertising & content Targeted audience Influencer identification Influencer contracting Sponsorship, promotions Lead generation Hiring/candidate-sourcing Matches employers with job seekers Platform solutions Co-branded platform functions Workflow applications APIs and embeddable widgets 3rd party shopping (“s-commerce”) Research/Analytics packages Customized reports for brands/ vendors

  12. VSNs: The Business Case Create value for members Membership model Enable members to better perform their jobs/functions Enable knowledge sharing via community, 1:1 Jobseekers can engage and collaborate with fellow jobseekers Premium subscriptions model Access to premium access, features, APIs, etc. Enable member-brand communication Integrated Apps, APIs For businesses themselves Empowers employees Career development Integrating VSN into existing business model

  13. E-Toro incentivizes top investors (influencers) and takes a cut off of each trade With 2M+ users across 140 countries, the central feed showcases top investors’ activities in real-time and allows users (novice traders) to mimic their decisions. Managing investments worth tens of billions annually, the company pays traders $10 per follower and then takes a commission (.1-.3%) off each transaction.

  14. Example: Forrst leverages membership for targeted job ads Forrst offers immense value to members, as a community where developers and designers can crowdsource and test their ideas out. The site makes money through both membership and piping in job posts and relevant ads targeting this highly specialized audience.

  15. Example: LinkedIn’s multi-track Business Model drives mass scale LinkedIn’s revenue grew 81% YOY in Q3 2012 at $252m, jumping to an estimated $940m full-year. 20% of total revenue 50% 30%

  16. Putting the Pieces Together: Case Examples

  17. Wave handles accounting for SMBs, liberating them to focus where they really need to Wave serves as an all-in-one solution for very small business payroll, personal finance, accounting, invoicing, payment transactions, and other key finance WORKFLOWS. They bolster their COMMUNITY with a paid pro network, SMB forum, and CONTENT like FAQs, discussion threads, SMB data, and other resources.

  18. Spiceworks provides value at every stage of the purchase cycle… Reach Network with buyers inside the leading social network for IT Sell Connect Uncover IT buyer behaviors/preferences that shape purchase decisions Learn Marketing tools to reach an audience of over 2M IT pros Link your sales force or reseller directly into our marketplace

  19. THANK YOU Rebecca Lieb rebecca@altimetergroup.com rebeccalieb.com/blog Twitter: lieblink Disclaimer: Although the information and data used in this report have been produced and processed from sources believed to be reliable, no warranty expressed or implied is made regarding the completeness, accuracy, adequacy or use of the information. The authors and contributors of the information and data shall have no liability for errors or omissions contained herein or for interpretations thereof. Reference herein to any specific product or vendor by trade name, trademark or otherwise does not constitute or imply its endorsement, recommendation or favoring by the authors or contributors and shall not be used for advertising or product endorsement purposes. The opinions expressed herein are subject to change without notice.

  20. 20 ABOUT US Altimeter Group provides research and advisory for companies challenged by business disruptions, enabling them to pursue new opportunities and business models. Visit us at http://www.altimetergroup.com or contact info@altimetergroup.com.

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