Social Networks can be divided into two types, Professional networks and networks for leisure. Professional Platforms and Platforms created for users to contribute their own content. These contents of interest to users allow collecting valuable information from each of them and their relationship circles and, in turn, establish profiles to be subsequently exploited or marketed as advertising media.
The contents, texts, videos, maps, photos are contributed and shared by the users themselves. The social network websites strive to create platforms, powerful search engines, versions for all devices and relationships between users. The mixture of all these ingredients results in an effective and profitable advertising medium. In addition to paid promotional content, well-used social media can make a difference in our marketing strategies and those of our competitors.
If the product is free, ... the product is you.
A social network is a space that users access in exchange for their personal data and privacy and where interactions between various groups of people can be established. These types of platforms offer an extraordinary opportunity to establish databases, highly segmented by affinity, interests, aspirations and a series of other segmentation modes that over time become one of the main assets of our business.
Until recently, it was considered fortuitous and random that content became viral. Viral content is a massive, unexpected and disinterested spread by users on their own social media profiles. There is a group of Harvard professors who have studied these behaviors and talk about a currency called “social currency.”
In addition, these professors set the guidelines for content to be shared or not. This social currency is sustained in the affirmation that users are more likely to share those contents that give them importance and social relevance. It would be like having access to privileged information that others cannot access and this gives them superior social status.
These contents have a greater potential of becoming viral, more than the contents that lack social value.
Another interesting point in the “Social Currency” is the case of Cambridge Analytica Ltd. An example that with a powerful Database, with a good segmentation engine and with a content creation strategy [not necessarily false] you can create states of opinion and induce users to take concrete actions.
Social networks are part of the digital transformation processes that are being undertaken by many companies in the present times and that were considerably accelerated by the Covid-19 epidemic. Erich Joachimsthaler PhD, CEO and founder of Vivaldi comments on Social Mode and digital transformation:
“Social currency is about the new behaviors of customers in today’s social, digital and mobile world,” […] “Understanding these behaviors will help increase the success of any business transformation effort.”
It is not exactly defined what is and what is not a social network. In this way platforms are constantly emerging, in which users exchange content and update existing ones, most fall within the concept of thematic networks. A Small World is an example of an elite payment network where we can find some of the owners of the greatest fortunes in Europe and the World. Another example of a self-sustaining social network is the case of TripAdvisor, which increasingly contains more content uploaded by users who can also establish relationships among themselves.
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