vertical social networks
DESCRIPTION
Overview of vertical social networks space and business models for the Professions Go Social Session at SXSWi 2013TRANSCRIPT
Setting the Stage for Vertical Social NetworksRebecca Lieb, Industry Analyst @lieblink @altimetergroup | #B2BSocial
2
Who here has heard of vertical social networks?
Q
3
Who here uses vertical social networks?
Q
Vertical Social Networks well poised as the most credible info source
Agenda• Defining VSNs• Community-Driven Content• Robust Community• Workflow Applications• Business Models• Case Example
Vertical vs. Horizontal• Highly segmented user
base
• Specific topics covered in depth
• High specialization
• Generally more private, gated
• Highly diverse user base
• Broad topical range
• Low specialization
• Less public privacy
Vertical Networks – “Socializing” Business Functions
PersonalNetwork
ProfessionalNetwork
Industry SpecificNetworks
Where
IT G
oes
to W
ork . . .
HR ITFin
MedR&D
Dev
Community-Driven ContentCommunity members generate the bulk of site content and drive site interaction
Learnist has been described as the ‘Pinterest’ for education, enabling users to add blogs, feeds, video, podcasts, comments, votes, etc. to “Learnboards” in order to quickly create lessons and course units.
Robust CommunityA concentrated and highly specialized community, with shared issues, interests, and connections
GovLoop is a platform of more than 60,000 public sector professionals dedicated to best-practice/blog/resource sharing, finding career opportunities, training, and connecting with other government workers.
Workflow ApplicationsProviding tools and content to enable professionals/members better accomplish their work/goals
Medical professional network, Doximity offers all members secure digital fax lines, accessible via web and mobile. It also enables secure messaging and search between colleagues and other providers.
VSNs: The Business CasePossible business models selling to brands and advertisers• Marketing solutions
• Advertising & content
• Targeted audience
• Influencer identification
• Influencer contracting
• Sponsorship, promotions
• Lead generation
• Hiring/candidate-sourcing
• Matches employers with job seekers
• Platform solutions
• Co-branded platform functions
• Workflow applications
• APIs and embeddable widgets
• 3rd party shopping (“s-commerce”)
• Research/Analytics packages
• Customized reports for brands/ vendors
VSNs: The Business CaseCreate value for members• Membership model
• Enable members to better perform their jobs/functions
• Enable knowledge sharing via community, 1:1
• Jobseekers can engage and collaborate with fellow jobseekers
• Premium subscriptions model
• Access to premium access, features, APIs, etc.
• Enable member-brand communication
• Integrated Apps, APIs
• For businesses themselves
• Empowers employees
• Career development
• Integrating VSN into existing business model
E-Toro incentivizes top investors (influencers) and takes a cut off of each trade
13
With 2M+ users across 140 countries, the central feed showcases top investors’ activities in real-time and allows users (novice traders) to mimic
their decisions. Managing investments worth tens of billions annually, the company pays traders $10 per follower and then takes a commission (.1-.3%) off each
transaction.
Example: Forrst leverages membership for targeted job ads
14
Forrst offers immense value to members, as a community where developers and designers
can crowdsource and test their ideas out. The site makes money through both membership
and piping in job posts and relevant ads targeting this highly specialized audience.
Example: LinkedIn’s multi-track Business Model drives mass scale
20% of total revenue
50% 30%
LinkedIn’s revenue grew 81% YOY in Q3 2012 at $252m, jumping to an estimated $940m full-
year.
Putting the Pieces Together:
Case Examples
Wave handles accounting for SMBs, liberating them to focus where they really need to
Wave serves as an all-in-one solution for very small business payroll, personal finance, accounting, invoicing, payment transactions, and other key finance WORKFLOWS.
They bolster their COMMUNITY with a paid pro network, SMB forum, and CONTENT like FAQs, discussion threads, SMB data, and other resources.
Spiceworks provides value at every stage of the purchase cycle…
Marketing tools to reach an audience of over 2M IT pros
Reach
Uncover IT buyer behaviors/preferences that shape purchase decisions
Learn
Network with buyers inside the leading social network for IT
Connect
Link your sales force or reseller directly into our marketplace
Sell
Rebecca [email protected]
m
rebeccalieb.com/blog
Twitter: lieblink
THANK YOU
Disclaimer: Although the information and data used in this report have been produced and processed from sources believed to be reliable, no warranty expressed or implied is made regarding the completeness, accuracy, adequacy or use of the information. The authors and contributors of the information and data shall have no liability for errors or omissions contained herein or for interpretations thereof. Reference herein to any specific product or vendor by trade name, trademark or otherwise does not constitute or imply its endorsement, recommendation or favoring by the authors or contributors and shall not be used for advertising or product endorsement purposes. The opinions expressed herein are subject to change without notice.
20
Altimeter Group provides research and advisory for
companies challenged by business disruptions, enabling
them to pursue new opportunities and business models.
Visit us at http://www.altimetergroup.com or contact
ABOUT US