The Economist: Special Report on Social Networking

The Economist did a great job of examining social networks.  There were about 10 in depth articles that looked at the growth of social networks, privacy, how they impact the work environment, and future profitability.  Weaved in these articles are some ways businesses have effectively used digital media (of which social media is one part).

The special report was in the January 30-February 5 edition of the weekly publication.  There is even an article “A peach of an opportunity” that focuses in on how small businesses are using the networks to grow.

Here are some gems from the report:

  • “Nielsen, a market-research firm, reckons that since February 2009 they have been spending more time on social networking sites than on e-mail, and the lead is getting bigger.”
  • A film called “The Social Network” will be released this year.  It’s about Facebook.
  • “The executives’ biggest concern was that social networking would lead to social notworking, with employees using the sites to chat with friends instead of doing their jobs.”
  • “Sprinkles, a cupcake bakery with stores all over America and nearly 94,000 fans of is Facebook page, posts a password to that page every day which can be redeemed for a free cake by a certain number of visitors to its shops.”

It’s a great read, and well worth it for business owners and marketers alike.

View the Report Online