Catching up on some industry news – this is part of what feeds my daily Microsoft Outlook inbox and my growing curiosity with social media today.
Notable quotes from the article:
“I refer to Facebook as the second internet, maybe more valuable than the first because we’re all interconnected on it,” Kerner told AFP.
“Social media is an increasingly important part of how you reach people and it’s a growing part of every marketer’s budget,” he said.
“The idea is you do not want to fight Facebook, you want to embrace Facebook and leverage Facebook because this is where people are going to spend increasing amounts of time,” he said.
For some internet watchers like Kerner, Facebook is constructing a parallel network built around the interactions of its more than 500 million members.
GOOGLE VS FACEBOOK
“They’ve become competitive in some areas, but it’s not that Facebook has grown at Google’s expense or that Facebook is growing and Google is shrinking,” said Danny Sullivan, editor of technology blog SearchEngineLand.com.
“Google is not going away,” agreed Kerner. “Google, in fact, I think is going to benefit from the emergence of social media.
“Because what it’s doing is it’s driving people to spend more time online and when you’re spending more time online, you end up doing more searches,” he said.
“Where they’ve really been encroaching on each other more is in the display space,” Sullivan said. “Facebook has a lot of people who buy display advertising. Google wants to sell more display advertising.”
How is Google going to compete with Facebook?
“New Social Network On The Block – Google ME”
Up until now, Google has had a hard time breaking into the social media landscape. They have had various attempts over the years, and although they have acquired a couple of the big players in the industry (Blogger and Youtube), they have yet to produce a successful social media platform of their own. However, there has been a lot of speculation recently that they will soon reveal “Google Me” as a social media experience to rival Facebook. Both Digg founder Kevin Rose and former Facebook CTO Adam D’Angelo have stated that this project is in the works. If successful, this would be huge – the two biggest presences on the web going head to head.
And the timing couldn’t be more perfect for Google. If you remember a few years ago, Myspace was the popular social media place to be. But when people started to complain, saying that it was too crowded and dangerous for teenagers, Facebook stepped up and took advantage of those aspects, effectively creating a platform that incorporated all the good things that Myspace had while leaving out the bad. In a short period of time, Facebook became number one in the industry. And now Google has that same opportunity. Facebook has begun to decline, and general complaints about lack of privacy and that same danger concern have surfaced. If Google capitalizes on these points and creates a newer, better version of social media, they can begin to capture Facebook’s lost market.