Social Networks Think Outside the Box

Author: Lisa Stephens
Published: January 06, 2012 at 1:44 pm

secure transactionsGartner, an IT analyst and business development research firm, recently released the latest report in its series of future predictions for 2012 and beyond it calls Gartner Predicts 2012. This latest report in the series explores the possibility for new directions for social networks in maintaining solvency while adapting to current life circumstances.

Using data they extracted late last November, Gartner researchers confirm the increase in the number of online banking transactions, and they explain the rapid drive for consumers to conduct the business of their daily lives online, through secure transactions, as being relevant, and a permanent shift in the way Americans maneuver through their day. Gartner suggests that this adjustment in mentality will create a niche for social networks which thus far has been overlooked.

"Offering insurance products to their communities would be a natural extension of social media providers' financial services strategies," offers Juergen Weiss, a Gartner analyst. He writes, this "would allow them to capitalize on their extensive set of information they constantly collect about their users." Mr. Weiss predicts this to be another place for social networks to offer services.

Weiss further projects, that 'within the next few years' social networks could offer banking services, and then potentially some insurance services, possibly through joint ventures.

Meanwhile, back at the farm ...

Weiss attributes Facebook's new timeline feature which allows subscribers to adjust and amend 'everyday' events - getting married, finding a new job, entering retirement (to name one or two), with providing Facebook the motive, means and opportunity to abscond with such vital statistics in the normal course of routine business. Weiss predicts that the ability for the social networks to ingest this information will create a space for the network itself to potentially offer a more secure competing service.

More incentive to keep profiles accurate and tidy.


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Article Author: Lisa Stephens

Writing is my passion, it's what I love. I am a Colorado-based real estate and business consultant. Online, I am lisasepiphany ... marketing & communications, corporate PR, defined marketing strategies in an environment of best use of commercial …

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