When we think of social networks, automatically we think of Facebook, Myspace and the likes. Many companies have taken hold of the social networking platform to implement viral marketing and realize the value of creating 'buzz' around their brand and products. Alternatively, many individuals have risen to fame (or infamy) using these platforms (Justin Bieber, Antoine Dodson, the guy that loves double rainbows to name a few).
Companies are starting to understand the power and magnitude of social networking and are recruiting social media managers. These managers not only manage and monitor the conversation that the public is having about their company, but also attempt to change the conversation. This again links to a company's overall strategy and breaks the high level strategy down to consumers by letting them know what you believe in, what you stand for, and where you're going.
GAP's new logo has sparked debate in the social media realm to say the least. The company looked to crowdsourcing to come up with a new logo. My thinking is that the company was trying to get 'in touch' with the social media crowd and create discussion within social networks. This seems to have backfired as it has been accepted as unprofessional and an act of "we couldn't do any better, so you give it a shot".
New hybrid companies are being introduced that are part social cause (not for profit) and part technology business. Enter Friendfactor. Friendfactor's advisors are high profile (think former developers of Google, a co-founder of Facebook, Harvard Business School professors, a senior legal advisor to Bill Clinton, and founders of non-profit organizations), and their team is balanced with financial, consulting, strategy, marketing and technology backgrounds. Now this is a company that gets it. With the power of the world's top talent behind it, Friendfactor has my bets on success. With a mission to make LGBT rights a reality, this company recognizes the need for balance between levering financial requirements, economics, social trends and social cause to thrive in today's environment. Better yet, Friendfactor is creating hype in social networks to create discussion (now that you've been informed, will you pass it on further (you should)?).
The Charter for Compassion is another project that uses social media/networking platforms (i.e. viral videos, Facebook group, and Twitter) to create change. It is movement towards peace, understanding and the realization on a global stage where humanity should root back to.
For companies, the implication is that like for GAP it is important to know who you're talking to, what they are saying and how to change the conversation as a brand management strategy. If you don't have anyone monitoring and engaging in these conversations, you aren't tapped into your consumer base and your brand appeal.
Friendfactor and the Charter for Compassion are excellent examples of how social networks can ride the social media wave to educate and make global change.
Now a few questions back to you: Who is in your current social network? What is that value to you? Will you join other social networks to move mountains?
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