With all of the networking activities now days (Facebook, Google’s Open Source, LinkedIn, and my personal favorite, Link to Nashville), almost everyone in civilized nations is involved with some degree of social networking. Presidential candidates have their own Facebook profiles; professional athletes have Myspace pages; and the common man, like you or me, has his own “portal” into the networking space. You can get online from anywhere through the use of mobile networks like Wireless Factorsand through your iPhone or smartphone from virtually anywhere on the planet!
Some time soon, The Relationship Economy will take the place of the current “system” of value. The majority of the income from online sites isn’t going to be ads you place on your websites or blogs, but rather from marketing firms who want to connect themselves to YOUR BRAND!
They are going to want you to mention their product in your blog or bio in whatever your networking portal may be! So where does “critical mass” come in to play with the Communication Factors?
Network effects become significant after a certain adoption percentage has been achieved, called critical mass. At the critical mass point, the value obtained from the adopted medium and the connections is greater than or equal to the effort required to participate in the medium and connect with its participants and content. As the value of the medium is determined by the user base, this implies that after a certain number of people have adopted the medium and its content, additional people will subscribe to the medium and connect with the participants due to the positive perceived utility.
We, the citizens of the world, need to use the Communications Factors to speed the growth of the network effects. Increased knowledge of the networks, tools and strategies allows us, the people of the world to add to the “swarm mentality.” Once the critical mass is reached, those who are already there and understand the nature of networks will be able to capitalize on their own personal networks and the knowledge they have gained during this emergence of The Relationship Economy.
The critical mass is already there and has been for years…..Television…where you can get a billion people to tune into a show. The issue is not how to broadcast, but how to narrowcast within social networks to be more targeted and efficient with your marketing and advertising dollars.
The main issue with social networks is “noise”. Large media companies are now integrating with facebook such as ABC News, NY Times and Blockbuster Video – all well known brands.
As new media evolves, it doesn’t usually replace the old media, as much as it builds upon it to reach a new audience.