Is social media a fad? Or is it the biggest shift since the Industrial Revolution? Welcome to the World of Socialnomics.
Currently, one of my interests is how these social networks can be economically self sustaining.
Erez Lieberman says some things about that in the article The evolving face of social networks:
“…online social networks have been plagued by the problem of how to make money. Where is the value in a social network?”
“What online social networks do is to dramatically accelerate and amplify our existing capacity to influence and co-operate with one another. And this influence is worth a lot of money”
“In my opinion, as we get better at measuring what happens within social networks (what is the likelihood that a particular stimulus within a social network leads to a particular response?), I predict a lot more organised marketing efforts on social networks as well as systematic influence campaigns.”
