Despite the surge in Facebook and MySpace, eBay (NASDAQ: EBAY) has been mostly on the sidelines with social networking.
But that's changing. The auction powerhouse is now jumping on the bandwagon with a social network called "Neighborhoods." Basically, it allows you to form groups where you can share photos, reviews, comments and so on.
To get some perspective on things, I had a chance to talk to Robb Hecht, who is a social networking expert and the operator of MEDIA 2.0. According to him, "The Starbuck's (NASDAQ: SBUX) of online shopping? That could just be what online consumers call eBay's new social commerce experience.
"By adding Web 2.0 engagement features like consumer tips, responses, photos and product reviews, eBay opens up its brand. It also shows how Web 2.0 is so much more than mere 'tools' added to websites; rather, Web 2.0 changes entire business models and organizational philosophies. eBay's new Neighborhoods 'nichify' the online shopping experience -- bringing like minds together, building a sense of camaraderie and community around the previous solitary online shopping activity. It is clear eBay is trying to create an addicting open commerce engagement platform it hopes buyers and sellers will park in and never want to leave."
Tom Taulli is the author of various books, including The Complete M&A Handbook
Comfort Zone Investing: Buffett buys Burlington
Six top trades for the rest of 2009
Senator Sanders proposes legislation to break up large banks
Reader Comments (Page 1 of 1)
10-12-2007 @ 2:27PM
RichBum said...
Good for ebay!!!! Excellent for niche marketers as well as the basic consumer. I find that social networking causes people to engage about products and ideas. If I want to know the truth on a product, finding a social network is the first thing I do before I make the purchase!!!
-RichBum
http://www.richbumwealth.com