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Facebook – along with a few other social sites and the developers of games for them – may be in for a great few years.  Certain experts believe that the business of virtual goods is going to take off in a big and very profitable way.

Here’s the opening line of a new article from the BBC: "Virtual goods such as weapons or digital bottles of champagne traded in the US could be worth up to $5bn in the next five years . . ."  Which would correspond to a whole lot of nonphysical stuff, if you consider that transaction prices are often in the $1-$2 range.

Still, the BBC interviewed Jeremy Liew of Lightspeed Venture Partners, Playfish’s Tom Sarris, and a casual gamer on its path to that conclusion.  Plus, there are the recent deals involving Zynga and Playfish to consider ($180 million and $400 million changed hands), along with the fact that Asia’s virtual goods market is already worth around $5 billion.

Toss in Facebook’s semi-sporadic support for its payment system and the new Preferred Developer Consultant Program, and it’s not hard to imagine that a great deal of growth in the virtual goods space is indeed possible.

Sarris addressed critics by saying, "The way we look at it is it’s no different from paying money to go and see a movie or rent a DVD.  What you are paying for is the experience and that notion of entertainment."

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Facebook – along with a few other social sites and the developers of games for them – may be in for a great few years.  Certain experts believe that the business of virtual goods is going to take off in a big and very profitable way.

Here’s the opening line of a new article from the BBC: "Virtual goods such as weapons or digital bottles of champagne traded in the US could be worth up to $5bn in the next five years . . ."  Which would correspond to a whole lot of nonphysical stuff, if you consider that transaction prices are often in the $1-$2 range.

Still, the BBC interviewed Jeremy Liew of Lightspeed Venture Partners, Playfish’s Tom Sarris, and a casual gamer on its path to that conclusion.  Plus, there are the recent deals involving Zynga and Playfish to consider ($180 million and $400 million changed hands), along with the fact that Asia’s virtual goods market is already worth around $5 billion.

Toss in Facebook’s semi-sporadic support for its payment system and the new Preferred Developer Consultant Program, and it’s not hard to imagine that a great deal of growth in the virtual goods space is indeed possible.

Sarris addressed critics by saying, "The way we look at it is it’s no different from paying money to go and see a movie or rent a DVD.  What you are paying for is the experience and that notion of entertainment."

Related Articles:

> Facebook’s Merry Christmas: Becomes Most Visited Site

> Using Facebook Traffic To Drive Brand Loyalty

> Opera: Facebook Most Popular Mobile Site In Africa

I probably don’t have to tell you that many businesses are still struggling with the concept of using social media. Many simply can’t find a good reason to use it at all, and many more find themselves using it but struggling to validate that use. They can’t find the ROI. They feel that too much time is being wasted. Basically, they’re just using social networks because they feel like they’re supposed to. They just want to keep up.

Many businesses are even banning social media from the workplace entirely. In fact, a great deal of our readers have expressed that they feel that social media doesn’t belong in the workplace because employees are there to "work," not "goof off."

Well, that may be the case, and perhaps social media doesn’t fit into your business at all, but considering your general business goals can help you decide whether or not there is a place for social media, and whether or not your employees can fit into that puzzle.

As social media enthusiast Chris Brogan told WebProNews in a recent interview, it’s time to get over the touristy part of social media and start getting down to business.

He says it’s not "Gee whiz, it’s cool" anymore. It’s "What are we gonna do with it?"

"Great you can type. Now what?" he says.

Here are some sample goals a business owner or manager might set for social media use. Once the goal is considered, then you can look at the tools that are out there and evaluate which ones will give you the best shot of achieving those goals.

20 Possible Goals

1. I’m a content provider, and I want to expand my reach.

2. I want my customers to be able to stay updated with news about my company.

3. I want to get to know my customers.

4. I want to promote my product.

5. I want to stay abreast of current news and trends.

6. I want to share my ideas with likeminded individuals.

7. I want to increase brand awareness.

8. I want to provide customer service and support easily.

9. I want to find a job.

10. I want to recruit.

11. I want people to like my brand.

12. I want to collaborate on business projects.

13. I want to directly sell a product.

14. I want to earn respect within my industry.

15. I am getting information overload, and I want to get organized.

16. I want to drive traffic to my site.

17. I want to attract advertisers and make money.

18. I want to get more involved with local prospects.

19. I want to get more involved with people on an international and global level.

20. I want to keep up with my competitors.

There are certainly more possible goals for business social media use out there. I’ve probably not even scratched the surface. What goals do you set for your social media efforts? Discuss here.

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When you think about social media marketing or building your social media presence, you probably think about Facebook or Twitter, or perhaps YouTube or MySpace. That’s good. These are some of the top places on the Internet where people are spending their time online.

What online communities do you focus on? Comment here.

That said, there are probably plenty of places that you are either overlooking or just plain ignoring. They might not have the broad user-bases of the aforementioned services, but there are people there, and the more people you can reach and engage with, the better off you may be in some cases (depending on your goals for social network use).

According to Hitwise data, the top ten social networking websites and forums by US market share of visits looked like this:

To be clear, the Hitwise data from which MarketingCharts compiled the above graph is based on US market share of visits as defined by the IAB, which is the percentage of online traffic to the domain or category, from Hitwise’s sample of 10 million US internet users. It’s unclear exactly what all kinds of sites fall into the social networks category.

But the point is that there are a lot of places out there where people are forming communities that you may not be thinking of, but may provide plenty of opportunities for driving more engagement, brand awareness, and/or even traffic.

Are you considering things like Tagged or Yahoo Profiles/Groups? Are you considering the forums out there that pertain to your niche? Forums are relevant in social media marketing. I’ve discussed this in the past. Forums are basically social networks. They’re communities too. You have to think about where the people are, and not just where they are, but where they are talking. Where they’re communicating with others.

Forums or other more narrow communities may even prove to be more valuable tools than Facebook or Twitter in some cases. They are more likely to be focused on specific niches, than on the general public. There are certainly plenty of times where the general public – the Facebook/Twitter crowds are who you are trying to reach, but there will be other times when you may want to reach a specific group of people, which may or may not be a part of Facebook or Twitter.

Look at Ford for example. Scott Monty, who runs the social media efforts for the Ford Motor Company recently told WebProNews that they use all sorts of forms of social media, because "Let’s face it, people are using all sorts of forms."

"We try to be where the mainstream are and we do it in a way that humanizes the company at every turn, so we’re on Twitter, Facebook, Flickr, YouTube, Scribd, Delicious, and upcoming as our major platforms," he said. "And we’re constantly monitoring to see what the trends are and where people are going, so that we’re relevant."

The key word there is relevant. Go where you’re relevant.

What are some less thought about communities that you use to engage with people? Discuss here.

Related Articles:
 

> Forums Are Relevant in Social Media Marketing

> How Big Brands Use Social Media

> Some Brands Have Good Ideas For Social Media. Do You?

> Using Facebook Traffic to Drive Brand Loyalty

When you think about social media marketing or building your social media presence, you probably think about Facebook or Twitter, or perhaps YouTube or MySpace. That’s good. These are some of the top places on the Internet where people are spending their time online.

What online communities do you focus on? Comment here.

That said, there are probably plenty of places that you are either overlooking or just plain ignoring. They might not have the broad user-bases of the aforementioned services, but there are people there, and the more people you can reach and engage with, the better off you may be in some cases (depending on your goals for social network use).

According to Hitwise data, the top ten social networking websites and forums by US market share of visits looked like this:

To be clear, the Hitwise data from which MarketingCharts compiled the above graph is based on US market share of visits as defined by the IAB, which is the percentage of online traffic to the domain or category, from Hitwise’s sample of 10 million US internet users. It’s unclear exactly what all kinds of sites fall into the social networks category.

But the point is that there are a lot of places out there where people are forming communities that you may not be thinking of, but may provide plenty of opportunities for driving more engagement, brand awareness, and/or even traffic.

Are you considering things like Tagged or Yahoo Profiles/Groups? Are you considering the forums out there that pertain to your niche? Forums are relevant in social media marketing. I’ve discussed this in the past. Forums are basically social networks. They’re communities too. You have to think about where the people are, and not just where they are, but where they are talking. Where they’re communicating with others.

Forums or other more narrow communities may even prove to be more valuable tools than Facebook or Twitter in some cases. They are more likely to be focused on specific niches, than on the general public. There are certainly plenty of times where the general public – the Facebook/Twitter crowds are who you are trying to reach, but there will be other times when you may want to reach a specific group of people, which may or may not be a part of Facebook or Twitter.

Look at Ford for example. Scott Monty, who runs the social media efforts for the Ford Motor Company recently told WebProNews that they use all sorts of forms of social media, because "Let’s face it, people are using all sorts of forms."

"We try to be where the mainstream are and we do it in a way that humanizes the company at every turn, so we’re on Twitter, Facebook, Flickr, YouTube, Scribd, Delicious, and upcoming as our major platforms," he said. "And we’re constantly monitoring to see what the trends are and where people are going, so that we’re relevant."

The key word there is relevant. Go where you’re relevant.

What are some less thought about communities that you use to engage with people? Discuss here.

Related Articles:
 

> Forums Are Relevant in Social Media Marketing

> How Big Brands Use Social Media

> Some Brands Have Good Ideas For Social Media. Do You?

> Using Facebook Traffic to Drive Brand Loyalty