How Social Networks Became Useful. Internetnews.com wades through the top stories and issues that rocked the industry in 2006 in this week-long series.
People flocked to social networks in 2006 in impressive numbers. And the money followed. You can credit broadband adoption for that. It turned social networks from mere asynchronous communication platforms to communities where people can share the music, videos and photos they care about with their friends. In June, MySpace became America's most popular Web site, representing 4.46 percent of all Internet traffic during the month, also according to a Hitwise. Success Factors for Brands on Facebook [ADWEEK] Last week on Facebook, amid the cacophony of status updates, many men received a cheeky invitation -- "Turn up your man smell" -- from a hopeful new friend: Old Spice.
The Procter & Gamble brand was running an ad on the social networking site hoping to increase its 55,000-strong Facebook fan base. By today, Old Spice boasted nearly 175,000. Brands are finding themselves in a position similar to that of the new kids at summer camp: they're anxiously looking for friends. In the world of social media, the potency of a person's network has always been key. Now, this virtual popularity contest has been joined by advertisers, who are scrambling to build fan bases they hope to mobilize on behalf of their brands.