The phenomenon of social networking is still in its infancy and it remains to be seen exactly which network might become the 800-pound gorilla in the space. It is reminiscent of the dotcom 90s, when I worked in the search industry; dozens of venture-backed search firms battled for dominance and search appeared to become a commodity, with limited monetization potential, or so we all thought at the time.
And Now About Twitter -The Revolution Begins
There are now so many social networks vying for users that even the most elite ?Digerati? have trouble keeping up with the ever-shifting landscape. And most are still struggling to find effective monetization strategies, casting doubt on their long term survival and pointing to massive consolidation at some point.
The Evolution of Social Networking Compared to Search
In the now-infamous dotcom era, Yahoo, Lycos, Excite and others evolved into portals in a desperate attempt to find ways to make money, since nobody had really found effective ways to monetize search. That was, until companies like Goto.com (which became Overture and was eventually bought by Yahoo) and Google invented the concept of paid search and contextual, pay-to-click advertising models. The rest is history and we all knew who won the war.
So it seems today that applications like Twitter and Facebook, while attracting new users at astounding rates have not fully defined their business models and the 800-pound gorilla has yet to emerge. It is still early in the game and, as with search in the mid 90s, the eventual winners in the social networking space may not even yet exist, but I would argue that Twitter and Facebook are emerging as potential contenders to dominate.
The differences between the two networks are substantial and in some ways a direct comparison between the two is actually difficult to make. Twitter is simple and feels like Google did in 1998, while Facebook offers a portal-like interface somewhat reminiscent of Yahoo.
Key Elements of Facebook and Twitter
Facebook appeals to people looking to reconnect with old friends and family members or find new friends online; the mashup of features like email, instant messaging, image and video sharing, etc. feels familiar, while Twitter is a bit harder to get your arms around at first.
Most people can very quickly grasp how to use Facebook to connect to friends and family, using it to share thoughts, images, etc. Like MySpace but more geared to adults than teens, Facebook is a social networking Portal; beckoning you not to leave but rather to stick around and communicate within the network.
twitter on the other hand, encourages you grab ideals in byte-size chunks and use your updates as jumping off points to other places or just let others know what you?re up to at any given moment.
READ ALL ABOUT TWITTER HERE => http://www.twittercommunity.blogspot.com/
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