Social Business model
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Hyves is a Dutch social network heavily used by the younger people in The Netherlands. The founders are talented and nice and have their own vision about social networks.
Hyves started somewhere in 2004 and has 2.3+ million members (not all from the Netherlands though, a big pile of users come from Peru and other Latin American countries).
OK, when it started it was an exact copy of Friendster, same idea, same look and feel, other marked. But as probably everyone knows Friendster lost its advantage to MySpace and are the running gag for the last 2 years. Friendster was on top but forgot to innovate and was surpassed by MySpace before they even could blink their eyes.
Hyves is one of those social network that keeps on innovating (keep up the good work Floris, Raymond and Koen). They introduced a video platform inspired by YouTube on hyves.tv and they had funny ways of making (little) money (crushes, hyvertising).
But one of their business models is worthwhile mentioning in particular. Lets give it a name… friendvertising
I’ll give an example. Let’s say that I’m looking for a new apartment in Amsterdam. 8 out of 10 times I’ll find an apartment through a friend or an acquaintance (who knows that a place will becomes available). So, you could say that in this case it would be nice to place an ad only for your friends and acquaintances. But where can you do that? Enters Hyves! You can place an ad (based on CPM) that is only visible for your friends and the friends of your friends. For all parties a winning situation. When I visit my personal page I get personal ads and may be I can help out a friend. Hyves earns a little bit of money and you can start your targeted banner campaign at low costs (in this case it costs 12,97 Euro to show my ad to 6486 friends of friends).
I’m not sure if other social networks have a similar possibility, but I think it is worthwhile mentioning it here because it is a brilliant system. Friendvertising rocks! and provides a good opportunity for online social networks.
Wondering when they start selling music on the Hyves Platform?
Wouter said,
Wrote on September 12, 2006 @ 12:00 am
Your example is actually something that happened here. A room in the house I’m living in was vacant and we found someone for it using Hyves. This “new guy” was in the network of a friend of another roommate, so he had some connection to us which made it more easy to get more information about him.
Definately something to consider!
patrick said,
Wrote on September 12, 2006 @ 9:13 am
Wouter, that’s a coincidence! But on the other hand it is also very logical, it is just a great example how to use your social network on an efficient way.
Enthousiasmeren said,
Wrote on September 24, 2006 @ 10:45 pm
Tada…de vierde online marketing blog carnival is er
Iets langer geduurd dan verwacht maar uiteindelijk is de kermis 24 september gestart.
De online marketing blog kermis (of Blog Carnival of BC). Leuke onderwerpen waarvan je er wellicht een of twee zullen intresseren:
slimme tips bij het bouwen…
1000 Times 1000 » Blog Archive » hTunes said,
Wrote on September 27, 2006 @ 12:04 pm
[…] In the blogpost about friendvertising I was wondering when Hyves would start selling music on its platform (see last sentence). The answer is: as of yesterday Hyves Music is a fact. According to the Dutch newsservice nu.nl already more than 100 bands and artists signed up (which is a lot more than expected). […]
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Advertising, Friendvertising and iVertising « 1000 Times 1000 said,
Wrote on September 3, 2007 @ 1:54 pm
[…] If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!After advertising, Friendvertising, now we have.. iVertising Now that we run Google ads on our first names, we have to come up with a name for it (according to the Sapir Whorf theory, nobody will understand a concept if there is no name for it). […]
My own Facebook/Youtube dating concept! Want a date… « 1000 Times 1000 said,
Wrote on October 22, 2007 @ 7:15 pm
[…] Personally I think that Social Networks are potentially ideal dating sites. And since facebook released a new advertisement platform today, (even more targeted -and a lot cheaper- then the friendvertising model of Hyves), new possibilities for targeted ads open up. I must say.. Their ad platform totally rocks! As I can target my ads to single women aged between 22 and 36 living in the Netherlands (for only 2 dollar CPM), I thought this is the time to experiment with a new online dating concept. Patrick’s dating show is born :) […]