There is a permanent upgrade in people's ability to communicate with each other.
So, What is Social Media?
In techies language
Social Media uses Internet and Web Based technologies to
transform Broadcast media monologues into Social Media dialogues
Whoa what’s that?
Yes, Social media promises dialogues. It says that I will
give you a chance to respond even if it is as minor as clicking a like button.
But you will have a chance to respond.
Today, we are going to raise questions against the popular
perception amongst people.
At the same time we are going to see what are the big
changes that have happened in past few years and a lot of them are commercial.
Remember in technology a question mark can be raised on only
two things, whenever you talk about a new technology.
Can you tell me what these two things are?
1) The
technology itself: How useful is this technology. Would this be technology able
to deliver what it is promising?
2) Commercial viability of
technology. Is it commercial viable/profitable or not. If it is not will it have
any life? It will have a life only in government sponsored labs or private
sponsored labs.
Now
that is very important as lots of scientific research which cannot be turned
into consumer products but that research is needed because it acts as a
foundation of lots of consumer products that comes later on.
That’s why government and private charities donates million
of dollars of funds for scientific research as one day it will lead to
something like social media revolution.
Are you joking :)
This will look realistic when we see :
1) Mark Zukerbarg in such young age achieved so lot. What
Facebook has achieved is possible because of fundamentals research done by
people last 50-60 years ago.
2)Android OS covered the market share, dramatically.
How the road map is laid
How the road map is laid
8-9 yrs ago there was
nothing like this social media, this is very profound statement as this has got
direct impact on our career / business.
Today Zynga (social gaming) has successfully turned 1
billion dollar IPO. If things go well we can expect growth in multiple.
It is so simple
Social Media is a big challenge because understanding it is
not simple.
Why??
Opening a Facebook profile page, becoming registered user on
LinkedIn or starting to tweet has nothing to do, of your being monetarily able
to exploit those channels.
What’s that..
You have a Facebook account doesn’t mean you start making
money from that channel.
That requires a different mindset altogether. Sometimes
different education
Social media touches on a very basic human nerve
The urge to engage,
The urge to respond,
The urge to react and
The urge to have my reaction recorded.
Let’s feel it,
Today when I click a like button we don’t even realize what
we doing , it’s a part of our life now but when designer of that website put
that like button there they knew exactly
what they were doing .
What they were doing??
They where hooking you because every time when you press
that like button you are reaffirming your loyalty toward that platform , your
are engaging to that platform there by your bonding with that platform.
And isn't the way how human relationship is built. Analogous
example: People hugging, kissing, shaking hand, on Social Media it is like
button.
That’s how the warmth is carried out this way.
This technology is very dangerous as well.
Why Why??
Copy paste can only work to a limit. Infect may people have
suggested Facebook should write on our wall, if you have copied paste it now.
As large no of people do this, it is very dangerous thing
there is no originality. When these entire things are getting powerful your
capability to communicate is also to be very powerful. Your basic English
should be good if every other word is technically wrong, either the grammar is
wrong, syntax is wrong, spelling is wrong you are exposing yourself to the rest
of the world.
The fact that it has gone so powerful that means it wills
cuts both ways. If you are good it will project you to the world, look how good
English he has , how good photo he takes , how good thinker he is .
Let's learn some rules
Rule 1) Network Effect
It states that
the value of a communication network to its users rises exponentially with the
number of people connected to it.
What does that mean?
This means that the audience of a social network grows
slowly at first then explodes once it passes tipping point.
There are two kinds of companies
1) One who wins
2) One who loose
On internet definition changes little bit, the winner takes
it all, Winning companies takes 80-90%, it doesn't give competitor a chance to
think.
Proof of Network Effect
FaceBook
For the first 150
million user – 5 years
For the next 150
million user – 8 months
LinkedIn
For the first
million users- 16 months
For the latest 1
million user – 11 days
Rule URL: Ubiquity
first revenue later
Let drive initial money from private
equity ,venture capital , later advertisement will work for us
Giants Fighting
Facebook
Vs Google
Google Model:
Targeted ads in response to search queries, thereby
increasing probability if click troughs, (ppcs , SEO these things got
commoditised).
FaceBook Model:
Facebook knows you personally based on likes , post , thereby
giving richer level of personalization
Google needs open information of searching
Is Facebook Google indexable?
Ans is No (except some basic profile picture)
The larger no of people spending time inside Facebook domain,
therefore creating less information for Google.
These kinds of system in Internet language known as Wald
gardens .And as the users spend limited time on internet .Moreover more number
of people spending more time in this garden.
You can understand Google can't see that information and
this garden is growing in size day by day.
Can you feel the threat that is being faced by this Giant. Oh
my god , I just hope that Facebook has build a search engine of its own and one
day it is going to attach within the application then what would happen to
Google users.
To be continued with KISS principle and lots more
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