In this new digital era, the traditional style of networking for social and business purposes has changed a great deal. People of all sorts are turning towards the Internet to find old and new contacts with goals to include them in their social digital bubble. These social hubs are not only a great place to meet people with the same interests or create new contacts, but they can also be used to measure statistical worth and popularity. We must remember that these Web 2.0 social-networking sites are all on a common denominator, being that they are all based on user generated content (e.g. eBay, Wikipedia or YouTube). These structures cannot exist without the users input; however, this content reveals interesting information and lets us better understand the demand and popularity online. Although the information is readily available to the public, our goal is to go one step further and decipher who is creating a bigger digital splash concerning luxury watches on user centric sites.
Some of the bigger players in the social-networking game are none other than YouTube, eBay, Wikipedia, MySpace and Facebook. These sites are leaders because they are referred to and revered as the most visited on the Internet to date. However, with all this traffic and content, how does the luxury watch market fair?

YouTube.com
Bought out by Google in November 2006 for an astounding US$1.65 billion in Google stocks, YouTube is one of the most referred to sites for video content on the web. With free video submission, the options seem quite limitless regarding growth potential. A peculiar aspect of YouTube that seems to be growing is the inclusion of new and old commercials from previously aired television content. This gives new meaning to the second life of a commercial, concerning certain brands.
Our first analysis will include the following brands Rolex, Omega, Breitling, TAG Heuer, Ebel, and Cartier to see how the compe-tition stacks up on the YouTube network. Please keep in mind that this analysis is done at a high level and further analysis would need to be conducted to retrieve the most up-to-date numbers considering the volatility of the numbers.



YouTube is slowly starting to be integrated in the Google search functionalities making videos appear in organic search results (non-paid results) alongside the traditional text results. So what does this mean? Basically, if a replica dealer has a high traffic video on YouTube, there is an outside chance that it could show up on the first page of results. Moreover, YouTube allows the creation of channels that link back directly to the site and allows you to control the content. This is a growing trend that has been adapted by such stars as Oprah Winfrey, companies like BBC World and many more. Based on the graph above, there is a significantly large amount of uncontrolled videos in this realm, where control can be easily obtained.

Wikipedia
Wikipedia’s name is derived from the words wiki, which is a form of a collaborative website, and encyclopedia. Spanning 253 languages with approximately 8.29 million articles, Wikipedia is one of the most referred to sites for factual information on the Internet today. Many arguments are won or lost after a quick research on this powerful online information site. Presence on this network not only strengthens public image and brand awareness, but it also adds to the overall perception of the product and the company. Wikipedia receives between 10,000 and 35,000 requests per second. With these numbers, it seems that presence is not only crucial but rather essential.
Let us now take a quick look at who has parked their luxury brandname here and at what level.



After closer analysis, we see that all these ‘Wiki’ pages contain the official websites in link form for all the name brands. This traffic can now be cross referenced with analytic data for the official site to prove its actual worth for the company. I am sure there will be some shocking revelations and remember to keep in mind that this is a free service that is monitored and maintained by the users.
The traffic generated by this site is not only useful to understand and maximize, but it also increases the value of the site in the eyes of Google search results as well. A feature called the Page Rank will help determine the ranking in the Google Organic search section and being cross referenced by Wikipedia is a very positive factor for the cause.
Being vigilant that there is important information being produced about the products on such a popular medium should be revered with the utmost importance.

eBay
With luxury watches being a hot topic whether it be because of a famous ambassador sporting the designer timepiece or simply to acquire the brand name, more and more users are looking for alternatives to purchase them, namely eBay. Let us now see what eBay can offer someone interested in purchasing a luxury watch.



Although eBay is a hub for retailers to offer their products to the entire Internet public compared to the limited physical audience regarding a store, this also leaves a large window open for counter-feit dealers to flood in as well. In recent months, eBay has tried to limit and monitor the auctioning of stolen and counterfeit goods, but the crime filtering process can only catch so much and criminals are becoming more deceptive and are finding loop holes in the system. Monitoring of this system is equally important to understand the scope and scale of this online market.

Myspace
Popularized as an American hub for brands and people alike, Myspace has the distinct honour of being in the top 10 most popular English sites in the world. Owned and operated by Fox Interactive Media, Myspace manages over 100 million user profiles making it one of the most visited sites.
Although this popular venue is still attracting audiences, since the birth of Facebook, it seems that Myspace is starting to loose their grip on the public. Moreover, the major foundation for its users is based in America, Facebook has been able to break through and expand internationally with more steam.
Although luxury brands are not a pivotal part of this market, there are still many interesting conversations and insights that are actively happening and can be seen as a live focus group for many brands.

Facebook
Being one of the fastest growing social networks in the world today, Facebook is seen as a force to be reckoned with. Some have speculated that it might even be the down fall of Google, but this has yet to be proven. Trailing on the heels of Myspace with 60 million active users in just over 2 years, the gap is rapidly narrowing.
Many offers have surfaced to purchase this social goliath, but nothing has materialized for a full buyout. In the mean time, Facebook is growing in numbers and when there is growth there is measurable data for the watch industry. Moreover, with implementation of targeted advertisement placement within the pages, this is a very powerful tool that is generating lots of interest.
One of the strongest features that drive Facebook, besides the fact that you can communicate with anyone, is that you can create events and measure the buzz before it happens. This element is a type of RSVP, if you will, that will be revolutionizing the world of event coordination and return on investment linked to the event. Moreover a virtual social hub can increase buzz and facilitate the delivery of information to the wanting public.

Conclusion
Social-networking has truly been the motivator for the Web 2.0 and propelled it into a completely new creature. The simple fact that these networks have connected people with common ties opens new doors like never before regarding the Internet. Also this has created an adverse affect on how much time we spend online by almost doubling our common dependence whether it is through a physical or wireless connection. Thanks to such devices as Blackberries and multilevel cell phones, the Internet can now be accessible almost everywhere in the world.
The major importance for this new Internet trend is not to harness its power but more to understand, retrieve vital information and establish corrective measures when needed. With all these social sites growing in popularity, information is now more public and accessible than ever before. It is important to strategize now before the Web 3.0 takes off.


Source: Europa Star February-March 2008 Magazine Issue