Interesting correlations have been made between the .com hype and the web 2.0 hype. Some have argued that web 2.0 is in fact no different from the original purpose of the web, and that the addition of “2.0” to the archive of technological nomenclature is simply to create a hype around a set of phenomena that happen to be worth a lot of money.

The .com boom saw the purchasing of large internet companies by larger companies for astronomical sums (eBay buying Skype for $2.6 billion; Yahoo’s $1 billion purchase of Alibaba.com). These amounts were paid because the new .com phenomenon represented a new investible channel, and because the digital and binary flow of information represented the future of business and private information consumption.

These lofty (and often hyper-inflated) valuations of Silicon Valley companies (many of which had already sussed out that an “e” prefix or “.com” suffix qualified them for said categorisation) went along way to ultimately contributing to the .com bust of 1999-2000.

So the question that beckons is: Is Web 2.0 any different?

Ultimately, Yes.

What differentiates web 2.0 from the .com predecessor is that web 2.0 is far more conceptual. Whereas the .com boom and bust surrounded companies setting up electronic services that were operable online they ultimately had too much competition. There were too many people vying for the same niche. Web 2.0 extends far beyond electronic services and becomes about demos-the people. Web 2.0 becomes about the consumers contributions to the electronic services we consume. The advent of Open Source is in my opinion the most potent example of Web 2.0 and the most potent example of how mankind’s technology can be harnessed for the purposes of sharing information democratically.

Web 2.0 is almost an ideology now. It governs the ways businesses operate and deal with customers and other businesses. Platforms are being created not only to offer a service but to encourage the consumer to contribute and thus in turn grow a community of users. Business strategies are being formulated in accordance with web 2.0 – take the recent developments in Cloud Computing (Software as a Service) wherein data becomes stored on remote servers and businesses then begin to retain more control over the storage and management of their data – they no longer require IT departments to negotiate that space between “the business” and “their data”.

So where am I going with all this?

I feel that in order to fully assess the success of web 2.0 we need to focus on one of the fastest growing facets of this phenomenon. I therefore want to channel some focus onto a concept that lies firmly wedged between the “business world” and the “social world” - between the public and the private domains: The Business Networking Site.

 

It was a logical progression that sites such as Bebo, Myspace and Facebook would evolve and find themselves remediated into new forms with new functions. And so now that web 2.0 is in full flux, how are business networking sites differentiating themselves from one another? How are they providing innovative services to their members/consumers that ensure a competitive edge? With an ever increasing number of new business networking sites what are they doing to justify their place amidst the plethora of business-oriented communicative platforms that are embedded in the web 2.0?

My focus for this blog is those sites that identify themselves as business networking sites: Xing; Linkedin; MeettheBoss; and Ryze. Other websites may offer a business platform but their increasingly blurred boundary between the social and business functions renders them obsolete. It should be stated as well that Linkedin is classified as “general, but mainly business” on Wikipedia whereas the other three are exclusively business.

In order to assess adequately we need a list of priorities - a Magna Carta to discern what these sites should offer in the context of their “business network” agenda (feel free to add accordingly):

·         Embedded Multimedia:

For me, to challenge for the title of an innovative business networking website you need to offer a range of media under one platform. This is imperative. We often consider the business world as the converging space of new technologies that drive businesses forward-video conferencing; remote PC access; high-end fibre optic internet etc. so why should our considerations of business networking sites be any different?

 

To this end MeettheBoss walks away a clear winner. Not only does the website have the sleekest design of the four, but they offer interviews with industry professionals across a range of industry verticals such as Telecoms; Oil & Gas; Pharma; Utilities and boast interviews with the CEO of Amazon; BT; and the Chief Designer of Lambourghini. Additionally they offer podcasts and you tube videos that are snippets of the longer broadcasts. Clearly thinking outside the box.

 

None of the other three offer as specialised business services, their approach seems to be more the communicative end (which they do well) rather than the fostering of business-oriented discussion.

 

·         Information Exchange Channels:

Ryze, the smallest of the four websites, does not compete with Linkedin, Xing or MeettheBoss in any respect. Their conceptualisation of the information channel occurs through a “networks” tab where you can join a network pertaining to “Entrepreneurs”, “Women in Networking” as well as “Belief Systems, God and Spirituality”. Their focus therefore does not seem to be specifically business oriented despite their statement that “you can network to grow your business”. The layout and formatting also lags behind the other three, especially MeettheBoss which has the most complex platform incorporating flash and java.

 

Linkedin and Xing both organise information exchange through groups (much like one does on facebook), both indicative of their social network heritage as well as their unwillingness to fully relinquish the social aspect of their business-network. These two sites are not exclusively for business members, one can sign up to either as an independent consumer and this is reflected not only in the construction of the site but also the sheer numbers both sites enjoy. These number ultimately make it difficult to exchange focussed information or focussed queries as “big sprawling networks where “all are welcome” are unlikely to produce practical ideas” (http://www.ft.com/cms/s/0/3cdb6a48-5f46-11de-93d1-00144feabdc0.html).

 

Conversely MeettheBoss is directed exclusively at business membership. Upon registering one is vetted prior to acceptance, and must provide not only the name of the business affiliated to, but also the industry that business operates in. Furthermore one has to disclose one’s occupation (similaraly on Xing) so MeettheBoss has a clear business-driven focus, which is also reflected in its relatively low but extremely focussed membership (c.a 20.000 high level members from some big players – GE, VISA, Shell etc.). The main channel for information exchange is the “Discussion” tab, where any member can start a discussion on any topic, to which any other member can contribute with a response. In this way more focussed discussions are generated and due to the relatively small size one can more easily navigate discussions and find the information that you need.

 

·         Niche Marketing:

This a rather ambiguous term and one I use lightly. The essence of the terms here suggests what niche services these business networking sites offer to their members/consumers.

Ryze again lags behind the other sites. The premium membership seems to offer little for your money, other than “advanced searches for a few dollars a month”.

 

Linkedin offers an interesting service of Q & A (similar to the “discussion” channel on MeettheBoss) whereby you can ask any question and answer any question from their database. Whilst this is conducive to fostering communication and debate I find myself irritated over the lack of categorisation (somewhat remedied by the search function). Ultimately it is a good service, but again not a focussed business-oriented function.

 

Xing’s niche services are more commercially oriented, fostering revenue through partnership advertisement. They offer members benefits from partners such as AVIS Car Rental, and Hotel.info. Not really much in respect of user applicable services (I don’t drive and rarely stay in hotels for example). What marries the latter two networks is both provide a job search function where one can search for available positions. Whilst this relevant for non-business affiliates it poses the problem that you get a lot of job vendors and recruitment agencies trawling these websites and joining various industry groups to advertise for positions. It also means if you join a group you get spammed by recruiters.

 

MeettheBoss, with its intrinsically business-oriented focus, offers what you’d expect in accordance with their agenda. They offer business white papers which approach current dilemmas in business, finance and IT. Additionally MeettheBoss provides online roundtable discussions on many of the issues that are proposed as white papers. Evidenced here seems to be a commitment to business discourse, business rhetoric and business practice and process on the web.

 

So, in terms of innovativeness Ryze comes in last. Apologies but there they just can’t compete. This leaves the last three big players. Xing and Linkedin will always prosper in terms of members because they have yet to differentiate between the social and the business on their site. And whilst no one is saying that they have to they can’t necessarily be considered a business networking site per se. Furthermore, if we are to conceptualise of their place within the sphere of business networking sites then these “big sprawling networks where “all are welcome” are unlikely to produce practical ideas. They tend to create greater confusion instead. In networks, it is the quality of people involved, rather than the quantity, that counts.” (http://www.ft.com/cms/s/0/3cdb6a48-5f46-11de-93d1-00144feabdc0.html).

In this respect MeettheBoss is the most innovative business networking site available. Not only has it set its mission as being exclusively business-oriented, it has an air of exclusivity about it because it is an invite only network. Their approach to new media and embedded multimedia truly reflect the potential of web 2.0, as do their application of flash and java. In terms of fostering a community it is a significantly smaller community than the other sites mentioned here, yet it is a community of business- men and women brought together through a focussed desire to share relevant information on contemporary issues. There is little chance of MeettheBoss usurping either Xing or Linkedin for members, but I think they have already gone a long way to dominating the market within actual business network.

 

PostScript:

I would like to thank Dave for helping me get access to MeettheBoss, without your help this piece would never have been completed!