At last some solid, researched advice Social Media: It’s About New Behaviors Not New Technologies from Anthony J. Bradley at Gartner which is not social media / bubble hype. For those of you who are not Gartner clients and cannot see the full report the summary is:
After examining over 200 cases of social media collaboration success, Gartner have identified a set of collective behaviors that underlie almost all successful efforts. They are collective intelligence, expertise location, emergent structures, interest cultivation, mass coordination, and relationship leverage. See a recent Gartner press release for descriptions of each.
However, it will probably take more that this to stop VC’s pouring money into social media companies as the blog Bubblicious shows. Staggering amounts.
However there is a fascinating graph (below) which shows how fast companies reached $1 bn of revenue. BTW Groupon started as a WordPress blog in 2008!
On a more positive note, it is raising the importance of the collaborative capabilities of existing products and it is making all of us think about how the user interface should change to engage users.