CH10-SOCIAL MEDIA

WEB 2.0

Internet services that foster collaboration,SOCIAL MEDIA

peer production

collabs btwn users to create content, products, & services

-used to create open source software

collaborative consumption

participants share access to products & services, rather than having ownership

Blogs

Online journal entries made in reverse chronological order. Blogs provide comment mechanisms where users can post feedback.

trackbacks

links in a blog post that refer readers back to cited sources

blog rolls

a list of a blogger's favorite blogs

Comments on Blogs

help keep blogger honest, users can quickly expose dishonesty

offers two way dialogue

comment threads

users can offer offer comments on blogs

Owned media

communication channels controlled by organization (ie:starbucks app, starbucks twitter)

Paid media

advertisement and sponsorships

Earned media

promotions not paid for but grown organically via customer efforts or favored publicity

(ie:positive tweets cause +followers)

Inbound marketing

leveraging online content to draw ppl in rather than traditional marketing tactics

wiki

can be edited by anyone from browser

roll back

The ability to revert a wiki page to a prior version.

griefers

Internet vandal and mischief maker; also sometimes referred to as a troll.

social networks

Online community that allows users to establish a personal profile and communicate with others (facebook & LinkedIn)

key fts of social networks

detailed personal profiles, affiliations w/ groups, individuals, with products, firms, and other organizations

Application Programming Interfaces (APIs)

programming hooks,or guidelines published by firms that tell other programs how to get a service to perform a task such as send or receive data

Free rider problem

when others take advantage of a user or service without providing any sort of reciprocal benefit

Wisdom of crowds

The idea that a group of individuals (the crowd), often consisting of untrained amateurs, will collectively have more insight than a single or small group of trained professionals.

prediction market

polling a diverse crowd and aggregating opinions in order to form a forecast of the eventual outcome

Features of good prediction market

diverse, decentralized, collective verdict, independent

crowdsourcing

The act of taking a job traditionally performed by a designated agent (usually an employee) and outsourcing it to an undefined generally large group of people in the form of an open call.

"SMART"

The social media awareness and response team. A group tasked with creating policies and providing support, training, guidance, and development expertise for and monitoring of a firm's social media efforts.

sock puppet

Fake online persona created to promote a particular point of view, product, or individual

astroturfing

Engineering the posting of positive comments and reviews of a firm's product and services (or negative ones of a firm's competitors). Many ratings sites will penalize firms that offer incentives for positive feedback posts.