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Top 10 Things Retailers Should Know About Social Networks, and What to Do
27 March 2008
 
Hung LeHong  

Social networks are becoming a viable interaction channel between retailers and consumers. Retailers need to carefully target how they approach social networks.








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Table of Contents



    
Analysis

1.0
    
There Are Social Sites, and Then There Are Social Platforms

1.1
    
What to Do
2.0
    
Social Network Sites Span Well Beyond MySpace and Facebook — But the Market Is Starting to Reconsolidate

2.1
    
What to Do
3.0
    
Social Networks Are Rich in Word-of-Mouth Discussions About Retailers and Products

3.1
    
What to Do
4.0
    
Social Graphs Make Word-of-Mouth Relationships Known and Usable

4.1
    
What to Do
5.0
    
Viral Propagation Is Boosted in Social Networks

5.1
    
What to Do
6.0
    
Applications for Social Networks Are Easier to Build — Opening Up a Whole New Way for Retailers to Interact With Consumers

6.1
    
What to Do
7.0
    
Social Networks Are a Huge Source of Consumer Data, but Retailers Cannot Easily Access It — And Privacy Will Become a Major Issue

7.1
    
What to Do
8.0
    
Communities, Groups and Networks Can Be Created by Anyone and Are Impossible to Fully Control

8.1
    
What to Do
9.0
    
Social Networks Are Not Capable of Commerce — Yet

9.1
    
What to Do
10.0
    
Social Networks Are Merging Into the Real-Time World — For Example, Making It Onto the Mobile Phone

10.1
    
What to Do

    
Recommended Reading


List of Tables



Table 1.  
Top 10 Things Retailers Should Know About Social Networks
 



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