BUSI 1402 Lecture Notes - Lecture 2: History Of Facebook, Linkedin, Social Innovation
Document Summary
Rethinking the fundamentals: why, are tapscott & williams convincing enough, problems/opportunities dichotomy, a new framework to empower a new generation. Business model: revenue through advertisements, difference from google"s ads, one on one marketing, targeting specific demographics, still in a flux, ipo"s pains, data mining. Social sales: the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2, creating new value from network effects, the reciprocity ring demonstrates how social networking creates value for everyone who participates. Transforming the sales cycle: b2b vs. b2c sales, establishing credibility, sales prospecting, sales team collaboration, customer references, post sales customer support. Challenges and limitations: poor brand fit, poor performance, social network fatigue, nonstandard ads formats, the adjacency problem, negative buzz. Sourcing candidates: active candidates, passive candidates, college and mba recruiting on facebook, referrals from extended networks, targeting specialized networks, reading between the lines.
