in Social media

Why are social networking sites big business?

There are probably more social networking sites out there then there are grains of sand on a beach. Of course I’m joking, but the idea that everyone is trying to get into the “social networking game” isn’t.

Social networking is big business.

Why?

Well the simple answer is: they make money.

  • They generate huge traffic – They are visited daily by a huge number of people who enjoy using the site and repeatedly go back to and stay on the website (raving fans, etc)
  • The public/fans of the site build brand awareness for you, virally – The more people like and use the site, the more likely they will spread the message virally.
  • Ability to create and focus on niches – With ning, facebook and others, you can have a social networking group targeted for a particular brand/product/service/action.
  • New scope for advertising on a personal level – Advertising on social networking sites might be in its infancy, but I’m sure advertisers will be trying to work hard with the facebook’s of this world to provide adverts that are geared towards your profile, targeting you with offers all based on data you put you in your profile

These are just some of the examples why social networking sites are popular, and why big business is increasingly interested in social networking sites.

Should you get a social networking site?

The questions you should ask are:

  1. What is your social networking site for? What problem is it solving?
  2. Is it just for generating cash? OR are you using it to increase the awareness of your brand/website?
  3. How do you intend to compete with Facebook, ning and the others? They dominate the marketplace? Just being there isn’t enough — you need a clear plan on how you will compete with the guys at the top
  4. Can you use existing social networking sites without having to buy software? IE: You could easily create a niche group on ning

Naturally there are more questions to ask, but I feel that the most pressing issue for any business is whether you can compete with the big boys, and what is the ulitmate pay-off? (ie: money, advertising revenue, brand awareness).

  1. [Sorry if this posts twice, I’m getting errors on your site when I click Add Your Comment.]

    Interesting that you talk about social networking sites, yet the post that lead me to your your site is locked for comments. I’m interested in why do you do that?

    Anyway, your post I really wanted to comment on was this one:

    http://www.silentflute.co.uk/2007/10/09/adding-crossfit-to-your-gym-workout/

    There are 3 things I’d like to comment on actually. You said:

    > Although I’ve not done it myself (due to sports injuries)

    Please don’t let this stop you. I didn’t do *any* exercise for 15 years cos of dodgy knees. But I can say this for the first time since being a teenager: within 3 months of starting Crossfit, I have no more knee pain, and I don’t constantly fear my knees giving way. Crossfit has done so much to help rehabilitate my 15 year sports injury, it’s almost unbelievable.

    > I much prefer soft intensity such as swimming, cycling as these do not impact on your overall skeleton

    I believe that the prevailing research is that your body adapts to the environment you put it in. Whilst I wouldn’t necessarily agree that Crossfit “impacts the skeleton”, it does load it, and your bodies natural reaction is to build stronger more dense muscles. I do Crossfit exactly because of not wanting to get osteoporosis in later life!

    > More info:

    You missed out a link to Crossfit Manchester, England’s first full time Crossfit Gym that opened it’s doors in Feb this year: http://www.CrossfitManchester.com . I don’t know where in the country you are, but I can’t recommend them highly enough, especially if you’re interested in over coming that injury and really doing fun, varied workouts.

    Comment on my blog if you want to chat, or just come by to see how Crossfit has changed my life in the last 8 months.

    Cheers,

    Colin

  2. Hi Colin,

    Thank you for your comment. I switched off comments for a second because I was getting a lot of trackback/comment spam and I was trying to get rid of it. But I’ve switched comments back on now.

    As for errors in the comments form, I’ll check it out as I’m unaware of why this is happening.

    As for which country I’m in. I’m in the UK… or Newcastle, which is more precise.

    Crossfit is unique, and I’ll probably take it up when I’ve stabilised my shoulder a bit more.

    Thanks again for your comment on my site, and I’ll be sure to check out your site too!

  3. The comments issue has now been fixed. It seems a file was not uploaded properly.

    Thanks Colin for raising this issue!

  4. Glad you got it fixed Amarjit. After sending that comment I noticed you were in Newcastle. As you linked to them already, you obviously know about http://www.crossfitnortheastengland.com .

    I know Kempie, the guy who runs it, he’s a totally down to earth bloke who I’m sure would enjoy the chance to chat to you. They are just down the road from Newcastle in Chester-Le-Street. Why not look them up some time?

    The nice thing about Crossfit is that it’s a pretty tight nit and friendly community in England. I can honestly say, I’ve never met a bunch of more friendly and supportive people.

    Good luck with your training.

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