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Hear expert business advice from Tom Smith, Research Manager, EMEA, at Universal McCann, as he reveals how one should approach the development a strategy that will encourage usage within Social Networks:
“There are so many ways you can work with social networks but increasingly it’s not just about advertising it’s about having a presence in the place is where consumers interact and doing that in a way that feels credible and relevant.
So whether you can create a page of inner social network and be there but actually giving people a reason to be involved sort of as creating content that you share on your page and get users to interact with or you create applications that users can load on to their social network pages creates a genuine usage for them and makes their page more interesting or makes their life easier online.
There are some good examples like Intel created a page on MySpace that was a collaborative music project. So people could who were pitching for a place in a band could create a super group out of the best entrants. So it’s kind of rather than just being an advert on a social network it’s actually kind of acting how you want to be seen and kind of creating stuff and getting people involved. So acting how you want to be perceived rather than just talking about it.
I think business should really jump on this idea and involve their users and open themselves up to getting more people involved and have done very well.
We looked at Facebook, and they have actively got their users to collaborate with them to translate the website into hundreds of local languages around the world, you know that was done by charge by the users.
Another good example is a video rental company in the US called Netflix which were trying to improve their recommendation system that recommends new films that you should borrow and they opened it up to the general public and developers and put a million dollar prize on it and said come and create a better recommendation system for us.
So it was about collaborating with the wider community and being open with them. They shared all their data and they are going to get a better system out of it by being open and being active and being involved with the wider world.”

See more business news television shows from Tom Smith, as he gives his top expert business advice at http://www.yourbusinesschannel.com

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Duration : 0:2:47

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Top business advice from Penny Power, Founder of business social network Ecademy. Join her in this show as she talks about how social networking has changed the way that people are networking.
Join Penny Power as she explains the difference between Mile Deep and Mile Wide networking. There is a need to strike a balance between gathering a large number of contacts and working to deepen your relationships. To find out how to ensure you have the right combination for your business – watch this show now!
Have you got a great business, idea, product or service, but you just can’t get the revenue growth you are looking for? If you’d like your business to be considered for the Million Dollar Challenge click here http://www.yourbusinesschannel.com/SyndicatorShow.aspx?spk=295
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Duration : 0:4:15

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In this business tv show, Stefan Tornquist, Research Director at Marketing Sherpa, talks about how being connected to one or more Social Networks could help you to win big:

“[Another] interesting thing is this land rush in social networking. I think recently I read that over 200,000 networks have started in the last year so this is really starting to mimic the Blogging explosion of several years ago and you know I don’t know quite yet if its going to be, I know that its not going to have been worth it for most of those social network creators right because like blogs there are simply too many blog streams, there are too many social networks to, not to join but to be an active member of so like blogs I think most of these are going to go fallow but that doesn’t mean that there’s not an opportunity here because some of them aren’t and I think the currency in, currency in a few years online will be engagement, it already is in many respects and we’re trying to do a better job of measuring what engagement is and if you think about how people engage with social networks there’s an awful lot of, there’s an awful lot of equity built up between the social network and the user.
So if you’re the kind of company that can do a good job developing a small social network for your customers and one that really provides value, it cant simply be become a member of our social network and we’ll let you know when there’s a new product available and its not going to work all that well but if its something that’s compelling enough, complex enough for people to talk about problems and solutions and show how good they are at solving problems, being creative, then there’s the opportunity for a really fertile social network.”

See more business news television shows from Stefan Tornquist and more online marketing experts, as they gives their top expert business advice at http://www.yourbusinesschannel.com/section.aspx?section=marketing

Find out more about the very latest show releases, as well …

Duration : 0:2:13

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