University of Minnesota - UMN Executive Leadership Insights
The Facebook Era
Book

The Facebook Era

Tapping Online Social Networks to Build Better Products, Reach New Audiences, and Sell More Stuff

Clara Shih
Prentice Hall Direct, 2009
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Editorial Rating

9

Qualities

  • Innovative
  • Applicable

Recommendation

In-the-know companies now actively leverage online social networks – MySpace, Facebook, Friendster and their numerous compatriots – to increase sales, improve public relations, gain market research data, reach customers, offer technical support, find new employees and more. Despite the stereotype that social communities are “just for kids,” many online sites exist strictly for business people and professionals, including CEO Network (controlled access for select senior executives) and LinkedIn (a professional referral and networking portal). Online social networking draws countless mainstream consumers. If you want to reach them, getAbstract recommends this book by Clara Shih, who developed the first business application for Facebook. She details online social networking and even explains how you might make some money with it.

Summary

The Value of Online Relationships

In business, relationships count. Without them, you are stuck in neutral. Online social networking, via such Web sites as Facebook, LinkedIn, Twitter, Hoover’s Connect and many more, enables you to develop extensive, valuable online relationships, including strong links with customers and prospects. Online social networking can build vital business relationships; in effect, it is the latest version of customer relationship management (CRM). Companies that leverage social networking Web sites can influence conversations about their products taking place constantly among millions of “netizens” (citizens of the Internet). Consider these examples:

  • Men’s clothing – Bonobos, an online retailer specializing in colorful men’s slacks, advertises on Facebook (150 million users and growing exponentially) so it can “hypertarget audience segments” and send relevant ad messages to highly defined demographic groups. This approach delineates age, gender and specific interest in individual sports teams. Bonobos displays “pants for [Boston] Red Sox fans” to Facebook members who cite the “Red Sox” in their profiles. The ads designate...

About the Author

Clara Shih is a product line director for the customer relationship management firm Salesforce.com. She formerly worked for Microsoft and Google, and developed Facebook’s first business application. Unesco commissioned her first book, Using New Media, to help people in developing countries use digital media.

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