The Social Media Explosion!!

Social media is an all-encompassing term that defines the various activities that involve social interaction, technology, and the fabrication of words and pictures. This intercommunication and the way the content is conveyed are dependent on the diverse point of views and “building” of a pool of information as individuals share their perspectives and understandings.

Social media utilizes the collective diverse knowledge of crowds to convey information to its audiences in a manner that appeals to most of the people it caters to. It has myriad forms including:

  • Message boards
  • Wikis
  • Podcasts
  • Internet forums and
  • Message boards

Social media technologies include:

  • Blogs
  • Vlogs (Video blogs)
  • Wall-postings
  • Email
  • Instant messaging
  • Crowdsourcing
  • Voice over IP

Applications of social media are, to say the least, diverse. It has permeated nearly all aspects of the Internet and has changed the way people connect to each other in more ways than one. These applications include:

  • Wikipedia – a free, online encyclopedia that has near limitless amount of content. It is being run by the non-profit Wikimedia Foundation and is available in several languages.
  • YouTube – a popular video sharing site where registered users can upload, stream, and comment on video clips.
  • Flickr – a site that allows users to share photographs. It also doubles as a repository where registered users can store their photographs for blogs and other purposes.
  • World of Warcraft – is currently the largest massively multiplayer online role-playing game (MMORPG) in terms of subscribers. The game is owned by Blizzard entertainment and is set in the company’s popular Warcraft mythology/series
  • MySpace – a social networking site that offers myriad of interactive, user-submitted network of blogs, friends, groups, and videos and music that are aimed at teenagers and adults.
  • Facebook – is another social networking site that offers free access for interested individuals. Registered users can then join any one or more of a plethora of networks such as universities, fraternities, and geographical areas to easily connect to people.
  • Friendster - Yet another social networking site. Here, registered users can post pictures, video clips, invite other users to join their personal networks and can customize their page to some degree.

Nowhere in human history has social media permeated into every aspect of society. The various social networks — like Facebook, Friendster, and MySpace — have catapulted society into unprecedented heights of interconnectivity and interaction at a global scale. Users can meet total strangers in the Internet and can even opt to share their most personal mementos like old family pictures and video clips that reveal layers of their personalities — all without meeting anyone physically. The social network websites facilitate contact among relatives who are separated by entire oceans; rather than call them, with just one click and former long-time neighbors and relatives alike can share photos and experiences in the form of blog articles and/or video clips.

And then there are the several aspects of the gaming industry where social media has taken root in. Massively Multiplayer Online Role Playing Games connect thousands of players around the world each day in fictional, virtual worlds than can either be medieval- or technology-themed. Total strangers and long-time friends alike now have the opportunity to co-mingle and share in their favorite pastimes.

Social media has also made an impact on business.  Internet companies, social media affiliates, public relations companies, recruiters, human resources, brand management services, and online reputation tracking and online reputation management companies are all affected by social media.  This is because social media enables people to carry on public conversations on websites, sometimes at a massive volume.  In social media, people talk about everything from personal problems to entertainment to recent purchases, and these conversations result in viral marketing that can affect the product lines of businesses.  Conversations online can also influence public opinion of companies and individuals.

Clearly, social media and its various technologies and applications have narrowed the previously omnipresent gulf almost to nothingness among strangers and friends who surf the information superhighway. With the popularity of social media climbing and the number of social media platforms expanding, it is probable that this form of interaction will change the way people interact and do business.

Forbes.com: Market News
Updated :

Riding A Calmer Bull
Aim for slow and steady gains in year two of this bull market.
Author : Steve Schaefer
Publ.Date : Wed, 10 Mar 2010 23:00:00 GMT

Ups And Downs For Retailers
J. Crew reports profit, American Eagle shuts down division and Children's Place books another rocky quarter.
Author : MarketNewsVideo.com
Publ.Date : Wed, 10 Mar 2010 19:22:17 GMT

Speedway Suffers Setback
Shares of the racetrack operator slide lower on disappointing earnings and a glum forecast.
Author : Melanie Lindner
Publ.Date : Wed, 10 Mar 2010 20:57:21 GMT

American Eagle Soars On Wings Of Profit
Retailer rallies after shaking off recession to book 81% earnings growth in fourth quarter.
Author : Melanie Lindner
Publ.Date : Wed, 10 Mar 2010 19:59:27 GMT

AIG's Progress Squeezes Shorts
Rounding up more than $50 billion in asset sales set off a chain reaction in the insurer's shares.
Author : Kelsey Swanekamp
Publ.Date : Wed, 10 Mar 2010 21:15:00 GMT

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