Guest Post: The Business Behind Social Networks
Tags: social media, Facebook, Twitter, LinkedIn, ExecTweet, Intangible InsightsJoel Selzer (LinkedIn profile), my Co-Founder at Ozmosis, has spent the past three years immersed in Social Media - in particular the business and functional side of Social Networks. As Facebook, Linked-in, and most recently Twitter break new ground with ways to turn their members into dollars, we are all trying to learn more about their strategies. In this Guest Blog, Joel helps to shed light on what the big players are up to.
For months, there has been talk that Twitter would finally unveil its business model with a focus on serving corporate customers, whether to help promote their businesses or to provide a customer service solution. Yesterday, news broke that Microsoft (MSFT), via its Federated Media ad network is the first to sponsor an Ad on Twitter. ExecTweet, a service that collects and highlights Tweets from various executives, will be prominently displayed on Twitter pages.
Twitter will get an undisclosed payment for promoting ExecTweet and Federated Media’s John Battelle hints at a revenue share arrangement. Federated also said it plans on launching similar programs on Twitter with other clients. Excitement over Twitter continued to build as Salesforce announced plans to integrate Twitter within its Service Cloud, a tool it released back in January. While countless organizations, such as our own team at Ozmosis, use Twitter daily to share insights and monitor industry news, companies like Comcast and Dell have customer service agents on Twitter to proactively find complaints and address them. Now Salesforce users can search, monitor, and join conversations specifically on Twitter creating a far more comprehensive customer service solution.
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