InstitutePart ASOCIAL NETWORKING SITESThis report will present the analysis of different social networking websites like that Twitter, Google, YouTube, Yahoo! Group, Facebook, MySpace and MSN. The basic aim of this report is to discuss the revenue model(s) used by all these social networking websites, SWOT analysis and future prospects for the business management and investment for our business firm. In this scenario, the social networking refers to a way of formulating “networks” of people’s community on particular websites. Additionally, the social networking has made a wonderful place between people who desire to share political, leaning, expertness, experience or anything (askdeb, 2010).
In addition, the social networking website is the set of people into particular groups, similar to small rural neighborhood or communities those are divided. Though social networking is probable in person, particularly in the universities, workplace and high schools, it is mainly well-liked online. This is for the reason that unlike most high colleges, schools, or workplaces, the internet is overflowing by millions of persons who are desiring to meet with other people, to collect plus share first-hand experiences and information regarding gardening, golfing, building friendships or professional groupings discovering business-to-business marketing (whatissocialnetworking, 2010). There are different kinds of revenue models which are used by the social and business websites today.
In this scenario as an e-Commerce specialist I will suggest and recommend for the wealth management firm which of these their clients should invest in. First of all, we should know what is a revenue model? It is a set of techniques and methods intended to create revenue or profits for a business or organization. In addition, the revenue model explains the fundamental way and technique of the business organizational earnings process and its relation to the sales of products or services (Carter, 2009; Turban et al. , 2005). At the present, there are a lot of different web based business or ecommerce revenue models that are used by the businesses to generate revenue.
However, the initial and mostly used method is online selling of the physical goods that can be acknowledged as a solid e-business. The next method is about the online ads or advertisement in which a business utilizes its website for the promotion of other business’s services and products (Onlinebusiness, 2009).
Here another revenue model is earnings per click that offer a fairly small income however its wideness can make huge businesses revenue. In this regard business places promotions and ads on other websites and pay for each user click that take the business customer to target website. Business services selling are also a web based revenue model. In addition, businesses can use this model to sell lawyer’s services, web designer, doctor, carpenter, psychologist services, etc (DuNg, 2009). Here another business model is operating on the “free” model, in which a client does not pay for this service.
However, , these businesses are based on the promotion frameworks (profy, 2006; Summers et al. , 2003). Approximately, the large part of Yahoo. com revenue is extracted from marketing services. Since it is a web based business so the biggest part of its earning comes from web based search advertising. In this regard advertisers bid for search terms to present their advertisements on the search outcomes. Besides this Yahoo also makes use of commission based sales and advertising revenue model(icmrindia, 2004).