A few smaller ones worth a mention

Google+

Google plus Facebook plus Twitter

The most interesting development of 2011 has definitely got a lot to offer. After inviting only a select group of people (10,000,000!), Google+ has become the fastest growing network of all time (however that growth was definitely aided by Facebook and Twitter).

But what is Google+, where is it going, and how can it help your business, if at all?

Google+ has cleverly combined the two most popular social networks, Twitter and Facebook into a tool that brings sharing, following and discussing content together seamlessly. Unlike Facebook, you can follow other users without needing to be friends. And unlike Twitter you can share content without getting lost in the abyss (thanks to a sophisticated filtering system).

If you are blogging (which you should be after this!), Google+ is a great tool to add weight to your search results. For all the posts that you write, you can display your profile alongside your search result. This increases the likelihood of click throughs but more importantly, your face will pop up whenever your search result does – a great way to strengthen your online reputation in the industry!

These new areas are just the beginning of a very exciting development. Google+ is likely to impact social, search and just about everything else that you do on the web in a way that only Google can.

FourSquare

Not for squares

FourSquare is one of the newest and most exciting forms of social media - Location Based Social Networking. Don’t worry, it’s less confusing than it sounds. Basically it’s a network through which users “check in” to physical locations (restaurants, shops, museums, cinemas) in order to let their friends know where they are. They can also be eligible for a Foursquare promotion from the venue. So if I’m popping into a Nick’s Massage Parlour and I “check in” using Foursquare then I may be eligible for 20% off his world famous “Nude Massage” (I never understood why he insists on taking his clothes off).

So what’s in it for the businesses? Well every time someone “checks in” to Nick’s parlour, all their friends on foursquare are given an update. That’ gives Nick some great exposure, so to speak, and by offering his special deals at specific times he can ensure his quiet hours pick up some decent trade!

Groupon

Proudly mugging grateful business owners since 2010

Groupon, funkily derived from the term Group Coupon, is all about collective buying power. They advertise a small number of daily deals in every city, often up to 60%-70% discount. The deals are so good that they tend to go like really cheap hot cakes, guaranteeing high sales for the retailer and Groupon take about half the money paid for the coupon.

It’s a great way for businesses to gain a bit of extra business and some exposure. The trouble is that once they allowed for the huge discount and then given half of the amount paid to Groupon, they are left with almost nothing! For new businesses just keen for trade at any cost, this is a price well worth paying. But for established businesses the sums don’t tend to stack up.

Recently Google Offers has come into the market and hopefully this new competition will help retailers get a better deal.

MySpace

You’re welcome to it!

Back in 2006 MySpace was what Facebook is now – no, not managed by stinking rich, power-hungry toddler. I mean it was the biggest, most dominant player in the social media market. Then, as the aforementioned ankle biter gained momentum, the once omnipresent monster shrunk into an ever more targeted niche, until now, when it is little more than a place for emerging bands to gain exposure.

After another failed re-brand at the end of 2010 then you can safely assume your time is better spent elsewhere (unless you work in music of course!).