From the Churchill Club Event of 11-Jun-09
So I had a panel answer a number of questions around monetising social networks, including:
- Are there profitable social networks or “are we just hanging on till we get bought”
- What are the winner and loser models
- What are the KPI’s
- Can you switch horses during the race?
- What’s next?
With myself as the moderator.
Lesson 1 Understand your community
Most people will only ever belong to a couple of communities at one time as true membership requires passion, and you can’t be passionate about lots of things at the same time. (eg family, career, hobby – pick two only)
The internet is not the community, its simply a method of virtually connecting a real world community.
If you can dominate a niche and act like an industry association, membership of your social network will be a given.
Lesson 2 Before you start Continue reading Event Report – The Monetisation of Social Networks