Expected: Continuous rise and fall of Social Networks

Last week LinkedIn has gone public. With the enormous growth of social networks like LinkedIn, Facebook and the likes and the commercial value they — virtually — represent nobody can deny that these networks are booming.

A couple of years ago there were many local / specialised players, and during their first hick-ups some of them lost attention from the public and others quickly moved further. The ones that survived this consolidation battle are now growing for the big money. They have linked communities together that were previously pretty hard to access, and they even linked people together that lost sight of each other. Great phenomonom with completely new dynamics. Two of these new dynamics I want to emphasize:

  1. Access the network, not the individual.
    Via the social networks it becomes much easier to connect to people that might be interrested in your products or services. And the known relations between individuals provides insight in who might also become potential targets or groups. There is less need to get direct personal details from individual before you can contact them. The thing you need is a good advertisement for your target audience, the moment they open a page you need to convince them to come to you.
  2. Use your network id to access everything.
    For the individual there is the benefit of using your social networks id to identify yourself at other internet pages or services. Providing your personal information again and again is a thing of the past. Simply enter, e.g., your Facebook authentication and retrieve your ticket or order your goods. Continue reading ‘Expected: Continuous rise and fall of Social Networks’

Who are my customers?

For marketeers it is a daily struggle. Where are my customers, what do they like, how can I reach them? Building a single view of the customer requires knowing a fair bit about them.

Ideally you want to know more then the data points your organisation is able to collect like address, order history and phone number (and please let those be accurate). What would really help effective marketing is to know your customer’s contact preferences, social demographics, financial health, social network, employment, daily commute, etc. etc.

Keeping your data accurate with people moving, dying and changing jobs all the time is difficult enough as it is. Keeping abreast of your customers social data seems virually impossible. Has anyone experimented with collecting social network data to do this?