In my quest to understand social networks better, I just read an article in the Feb 12th issue of New York magazine which I found very interesting. The underlying premise is that the under 30 generation that is the driver in the growth and sustainability of social networks is OK with giving up their privacy in order to gain an audience and that this is creating a true generation gap not seen since the early days of Rock n Roll. You can read the full article here for yourself but here are some points and thoughts:
1) I think she is right about the privacy angle. While the older gens tend to be highly concerned about our images, personal space, right to no phone solicitations and desire to be left alone, the younger gens are willing (and able) to expose much more of themselves to public scrutiny. Some of the reason may be that at 22 yrs old, there is not a lot to lose while at 40+ with a family and kids and a house - there is more on the line. Another reason is that the younger gen hasn’t found their groove in life and having pictures, diaries, friend circles, etc. means that they are better connected than just a college, high school or neighborhood cirlce. The internet is huge after all.
2) The younger gens have time. It is a bit of a struggle for me to write a blog every week, let alone post pictures, update my family site, spend time with the kids/wife/dog, exercise, work on the house, build a business, etc. The younger gens haven’t accumulated the daily tasks of life maintenance yet so they can spend the time posting, connecting exploring. I’ll have more time when I’m retired.
3) The thought of capturing your youth for eternity (albeit online) is compelling. What would it be like for you or me to Google ourselves and find diary entries from Jr. High School or pictures from college? Scary, yet perhaps interesting and insightful.
4) Fame, at any level, is compelling. Would I like to have a MySpace page with 1,000s of friends? Absolutely. Do I have the time and energy to make that happen? Doubtful. However, with fame being a currency that is traded more and more (Paris Hilton anyone?) the younger gen is comfortable in asking for and getting connected in hopes of rising to the top of a list or getting into a new relationship.
5) They are willing to take the abuse with the praise. With every social network opportunity - it can go well (you’re great!) or poorly (you’re ugly!). It seems that by agreeing to be out there, that they are making a decision to take abuse as it’s doled out and either change or ignore.

Social networking is an important part of the next phase of the internet and it is important for marketers (of all generations) to understand and embrace it. More to come on this topic.