Friday, March 20, 2009

Social Media

A controversial subject for some but an undeniable force in new media; Social Networking as a means for approaching your customer base was the topic of this presentation given by American Blake Chandlee - Commercial Director of Facebook. 

Chandlee stated that Facebook was not about forming new relationships but about "building on existing relationships". He also stressed that unlike Bebo and myspace, the majority of their users are over 25 years old. Some rough facts I picked up:
  • Social networking has overtaken porn as the most actively accessed thing on the internet.
  • Facebook attracts 600/7oo thousand new people every day.
  • About half of registered users go on every day.
  • There are currently over 600,000 companies making new Facebook applications.
  • 40 out of 50 of the UK's top brands are involved in Facebook. 
The discussion changed to the way people talk about brands through social networks such as "Becoming a Fan of..." This form of viral marketing along with profile choices can in some cases provide brands with the knowledge of where your interests lie, and what brands appeal to you. The likes of the Topshop fashion application (where users point out to friends what garments they want and receive feedback) is a fantastic example of the power of social media. 

Chandlee also pointed out the benefit in having the 24 year old entrepreneur Mark Zuckerberg as his "boss" - being of a younger generation, he looks at the world entirely differently and has tremendous vision of the future.

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