Exam 3 Flashcards
(93 cards)
social media enables people
to form communities of practice
what is SMIS
Social media information systems
that support of sharing of content among network users
SMIS Roles
Social Media providers
Users
Communities
Social media providers
enable the creation of social networks
ex. Facebook, google+
what is a viral hook
an inducement or prize for passing communication along through the tiers.
SMIS components
Hardware Software Data Procedures People (Look at figure 8-4 for examples)
what is content data
data and responses to data that are contributed by users
Connection data
data about relationships ex. liking a particular organization
what is social CRM
it is CRM but with social networking; gives more power to the customer
crowd sourcing
social media process of employing users to participate in product design or product redesign.
human capital
investment in human knowledge and skills for future profit
social capital
investment in is social relations with the expectations of returns in the marketplace
according to Lin, how does social capital add value
- information
- influence
- social credentials
- personal reinforcement
how to determine the value of social capital
by the number of relationships in a social network
by the strength of those relationships,
the resources controlled by those related.
social capital is a
multiplicative between
number of relationships
relationship strength
entity resources
how do social media companies earn revenue
advertising
freemium
how does SM make money off advertising?
pay-per-click
use increases value (more people who use the site the more valuable)
what is freemium
basic service is free but charges a premium for upgrades or advances features
conversion rate
measures the frequency that someone who clicks on an ad makes a purchase, “likes” a site or takes some action desired by the site.
how to develop effective SMIS
(steps)
- Define your goals
- Identify success Metrics
- Identify target audience
- Define your value
- Make personal connections
- Gather and analyze data
Key Performance indicators
KPI or success metrics
what are vanity metrics
metrics that don’t improve your decision making
Enterprise Social Network
ESN- it is a software platform that uses social media to facilitate cooperative work of people within an organization
Web 2.0
aka enterprise 2.0
the use of enterprise social networks