The Social Network Business Plan: 18 Strategies That Will Create Great Wealth
Do you read the advertisements that appear on the social networking web sites you visit? Neither does anyone else! So, why do such hugely successful online communities as MySpace and Facebook rely solely on advertising to produce revenue and how long can they survive? Isn't there any other way for online communities to make money? Actually, there are eighteen other ways!InThe Social Network Business Plan, venture capital guru andSmart Start-Upsauthor David Silver reveals eighteen cutting-edge methods for generating income from social networking web sites—none of which involve advertising, and all of which really work.Silver's premise is simple: There is a lot of money to be made by getting smart people talking about something that has commercial value and then selling their anonymized conversations to vendors. He goes on to reveal how all parties benefit from these arrangements, who gets paid and how much, how you get these smart people to start talking, and why vendors will pay to overhear these conversations.At the core of each winning business model is the recommender online community, arguably the most powerful and disruptive force to emerge in the information age. These groups have already begun shaking up the advertising, marketing, sales, and public relations industries, and their influence is growing. Social networks are having a tectonic effect on several industries by shifting the power from the producer to the customer, or what is known as oligopsony power. Any savvy entrepreneur or investor who wants to get a jump on this emerging trend needs to understand the power of these groups and discover ways to tap it. This revolutionary guide helps you do just that. You'll discover how to:Create an elegant online recommender communityDemonstrate your community's value to vendorsMake your enterprise a substitute for all the othersOperate multiple online recommender communitiesInspire passion and loyalty in your communitiesMaximize your selling priceOnline recommender communities are more than nice little businesses; they are poised to start filling Fortune 500 slots very, very soon. ReadThe Social Network Business Plan,and get in on the action before it's too late.