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Social Networking Plays Prominent Role In Today's Top Companies

The American branch of BMW's Mini Cooper line tracks everything being said about its brand online and uses what it learns to guide advertising campaigns.

Executives at Hewlett-Packard respond to customer problems and concerns through their individual customer-facing blogs.

Del Monte Pet Products uses a private online community to chat with animal lovers whose opinions help steer the development of new products.

And the list goes on .  . .

In a recent Knowledge@Wharton article published on Forbes.com, Charlene Li, vice president and principal analyst at Forrester Research, says,

"The more you know and understand the individuals who make up the groundswell around your brand and your company, the more you can use the new social networking phenomenon to your advantage. Such understanding comes from going well beyond traditional user surveys. Much of today's Internet revolves around individual users, the content they create, the communities they form and the transactions they choose."

Elizabeth Churchill, principal research scientist at Yahoo! Research, purports, "People's lives are rich and complex, so you need to get data both in the large and in the small. That means quantitative data from large groups to answer the 'who, what, where and how' questions, and qualitative data to answer the 'why' questions."
 
Little-known facts and figures:

 

  • 44% of all U.S. American adults who were online in 2007 were classified as "inactives"
  • Higher up are the "joiners," the 25% who visit social networking sites like MySpace
  • Collectors, an elite 15%, collect and aggregate information
  • Critics are those who post ratings and reviews as well as contribute to blogs and forums
  • Only 18% of all online Americans actually create content, publishing an article or a blog at least once a month, maintaining a Web page or uploading content to sites like YouTube
Interested in reading the rest of "Unleashing The Power of Social Networking"? Read the full article here.