Monday, September 22, 2008

The Need For Speed - Using Social Media to Speed Innovation

Posted September 22nd, 2008 by Augustine Fou
Beyond the well-known examples of social media Web sites like Facebook, YouTube, MySpace, and others, what exactly is social media?
Beyond the obvious characteristics of user-generated content, many-to many interactions, conversations with peers, raw and uncensored, etc. what are the defining characteristics of social networks that are not generally talked about? Why are they valuable?

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Recap: Defining Characteristics of Successful Social Media

1. Increases in value over time, from the collective actions/work of the community.

2. Provides real-time or near-real-time information in statistically significant numbers.

3. Leverages the collective work of the community to vet accuracy and relevance.