[Posted by Jeremiah Owyang]

My Home is my playground: Identity and Identification in the Internet

Presentation by Lars Schwenk, Managing Director of Cyworld EMEA

There are four parts to a community: Communication, Collaboration, Self-Expression, and Peeping. Bars are the original community. Cyworld is about sponsoring, not advertising.  Users buy items to self express themselves.  Created a online event for an art festival called "Bright".  Brands can create your own branded virtual items and let users in Cyworld use it.  Self expression with identities is what Cyworld is all about. Are social networks killing themselves from too much advertising?  People are willing to pay for digital items, or for sponsored environments rather than advertising.  Currently adoption of virtual goods is 4% but could grow to 40%, there's a change happening.

[Posted by Jeremiah Owyang]

Using Social Technologies for the Next Generation of Customer Research

Both Facebook and MySpace have launched profile and network targeted advertising and marketing products.  As they both use member interests and the communities which they are part of, trust continues to become key in adoption as information is passed along the network.  The sheer size of MySpace’s member base, as well as the thriving local business membership will lead to success.  Facebook, which brings a unique solution evolves advertisements to endorsements and encourages members to subscribe to a brand in what we are calling “Fan-Sumers” (an evolution of the consumer).  As consumers share their affinities, brands can advertise using trusted social relationships.

Data: Highest trust comes from friends or acquaintances

(Left Graph: Consumers trust their friends and acquaintances far more than any other sources --Forrester Research, 2007)

Trust is and will continue to be one of the most important attributes in the decision making process.