OK, someone say I told you so. I have been watching the latest social media trends the past few months with some trepidation and interest. It’s kind of like watching knee surgery on Cable TV. You do not want to watch but you just do.
Of course, I am talking about the monetization of social media. Once upon a time, these tools and networks existed to connect people by interest and topics in ways we never even dreamed of.
Now all people are thinking about is how to make money form something that was supposed to enhance our lives. Twitter is doing it, so is Facebook, Ning, LinkedIn, Living Social and many others.
Not only are we going to be barraged with paid ads, we are also going to have to pay for some social tools and social networks.
This article/blog (http://venturedig.com/tech/monetizing-social-networks-the-four-dominant-business-models-and-how-you-should-implement-them-in-2010/), discusses several business models that are particularly successful via tools like Facebook.
This Slideshare presentation (http://www.slideshare.net/misteroo/social-networks-monetization-presentation) discusses the Social Networks aimed at children and teens as well as mainstream social network tools. This is a good overview of the business landscape as well as discussion of the myths and realities in this space.
What is clear to me is that we are at a crossroads for Social Networks and Tools. These platforms have enabled communication in new ways, increased transparency and knowledge sharing, facilitated new business and educational models, and have shifted the landscape of marketing and advertising. One article I read called this trend, “Putting your money where your data is.”
What do you think about these developments. Will you pay for services that used to be free. Do you care if the platforms disappear because they cannot support themselves? Will there be enough demand to support many tools?
Please comment freely.
My Life 2 Dot Oh! 