Social Networking: fashion models, retirees, the wealthy
Are we back from summer vacation and ready to work yet?! I'm asked often , nearly every time that I present, about the business value of web 2.0. Few believe that blogs and feeds will alter the revenue landscape and many are attracted to the notion of better segmentation of their customer base and better cooperation (innovation) within the enterprise. I emphasize that the true business value of Web 2.0 is the capability, for both low cost and low barrier to entry, of helping like-minded individuals to find one another. Once in contact with those of similar interests and taste (fashion, lifestyle, hobbies) commerce will follow. Three recent articles in the NY Times and Wall Street Journal may substantiate this point:
- A Facebook for a Few describes the invitation-only social networking site of aSmallworld.net. Over 4 years, its grown to 150,000 members of high net worth and an average age of 32 years. NYT 6 September 07
- The Graying of the Web describes numerous sites that received venture funding to build social networking sites for the boomer generation, who outnumber teenagers 3:1, plus they tend to be more loyal users and customers when compared to younger, even more tech-savvy teens. Johnson and Johnson just purchased Mayasmom.com for $10 - 20 million. The site is one year old and it is no iTunes, but it is a really good idea.
- modelshotel.com is a social networking, invitation-only site for this community within the fashion industry. It intends to help this group of like-minded people to find and to assist one another with many things that are non-glamorous, such as finding work. Wall Street Journal 10 Sept 07
'The Web 2.0 precept of 'Go to Market with us , do not Market at us' is appearing to take hold in a couple of interesting and lucrative segments. cperrien