Challenges of the Social Technology Industry

While the opportunities for social technologies to change the world, business, and our individual lives continue to unveil, it’s also key to focus in on the challenges that impact the industry. For many folks who have decided to invest in social technologies to improve their careers and business, it’s even more important to pay attention to these challenges.

I can’t wait to share with you about this article after I read it.

In the article, Jeremiah did a comprehensive analysis/matrix, which is very helpful and it will guide whomever in the process to plan and strategize out social media involvement. He listed out there are 10 challenges for the social technology industry in the year 2010 with detail explanations, as well as ‘why it’s painful ‘ and ‘how it will be resolved’:

These 10 challenges are:

1. Noise overwhelms signal
2. Amateurism threatens expertise
3. Power shift to participants
4. Fast moving industry creates confusion
5. Risk of over hype
6. Lack of qualified talent
7. Measurement elusive
8. Disparate Data and Irregular Standards.
9. Culture shift creates an internal rift inside institutions.
10. Privacy Woes scare companies and consumers.

As Jeremiah said, the savvy person will realize that it isn’t a list of gripes, but instead an opportunity list. Leaders at vendors, agencies, or brands will see these list of challenges of problems to fix and monetize. If you’re in this space, you’ll want to send this list to your product teams, or strategy teams so they can think about how to solve many of these issues –or at a minimum, be prepared for it.

The savvy corporate social strategist or the smart entrepreneur will recognize the many business opportunities and models this list offers. And the truly smart folks will figure out how to improve their careers, add more value, and even profit by taking these challenges on directly, continue read the full article ..