Friday, April 17, 2009

Framework for Doing Business in Social Networks

Summer 2007, as part of managing a portfolio of internet emerging technologies I became interested in exploring social networks and virtual worlds for business purposes.

Second Life was the buzzword back then (just like now everyone is talking about Twitter) so in collaboration with IBM partners we conducted a POC in Second Life. My goal was to test virtual worlds as a viable solution for internal collaboration for distributed teams of employees. The name of my avatar was Noemi and all avatars met at the IBM Business Center.

My ENTP mind always has the tendency to conceptualize things and created a framework to classify the different type of business opportunities within social networks. I wanted to use the framework for a conference but at the last minute the topic of my presentation changed and never used it.

Yesterday, I was cleaning old files when I found this framework. The classification still as relevant as it was in 2007. Perhaps even more relevant now when we look at the success with Twitter gaining broad media popularity and micropayments becoming the backbone of World Warcraft like gaming sites.

Just like the User-driven World matrix helps organizations to understand the behavioral motivations behind the consumerization of emerging technologies, the following framework will help organization in the identification of business opportunities to leverage and monetize social networks.

Let me know if the framework was helpful. And I will embrace the practice of checking my old files for new sources of information.

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