Social Networking

The idea of Hulu, an up and coming video company, adding social networking functions is, in my mind, a key to the success of the company and I completely support this effort. The more interactive users can be allows marketers a greater plethora of consumer information in deciding how to better target specific groups. Marketers have seen a trend in the popular social markets such as MySpace (myspace.com) and facebook (facebook.com). Through these networks word of mouth, the best way to simulate messages, is the main way users communicate with one another. Like facebook’s feature of adding a friend because you have common interests with that person or because you know someone they know, is similar to the concept Hulu is considering. Connecting with each other and sharing video preferences is Hulu’s way of adding this concept and customizing its product.
With this idea of building user loyalty and mining data to attract advertisers, marketers can get a better idea of what products to promote/advertise because they will better know what kind of groups they are targeting. According to the article, Social Networking Gets a Sanity Check, the number of dollars spent on advertising on facebook and MySpace together is $1.02 billion. Obviously from these numbers, it is evident that advertisers believe social networking sites are great places for advertising. Though assumptions may still be made about certain users, overall this is a great concept. The article, Hulu Embraces Social Networking, stated that users would be able to create their own profiles for this particular site. Seeing the success that has come from social networks like facebook and MySpace, even Google, Amazon and eBay, I believe Hulu is heading in the right direction. Allowing users to create their own profiles, puts them in the driver’s seat, as they are the ones who choose what goes on and what is left out. Overall, adding social networking functions is a great idea that will help capture consumers, build brand loyalty, and better fit advertisements to specific target groups.