Collaborate with students on the following exercise. In particular, consider using Google Docs, Windows Live SkyDrive, Microsoft SharePoint, or some other collaboration tool. Suppose your team has been hired by Anne Foster to investigate the use of Web 2.0, social networking, and social CRM for wedding events at Fox Lake. Work with your group to answer the following questions:
1. Describe how Fox Lake could use AdWords and AdSense to advertise its wedding events business. Which, if either, of these would you recommend for Fox Lake? Why?
2. Explain how to assess the social capital of a wedding party. Is it possible to compare the social capital of two different wedding parties? If so, how? If not, why not? In what ways is knowledge of the relative social value of two wedding parties useful to Fox Lake? Are such considerations tawdry? Why or why not?
3. Describe techniques that Fox Lake could use to encourage wedding parties to contribute their social capital to Fox Lake. On the surface, Fox Lake appears to be the primary beneficiary of such a contribution. What can Fox Lake do to increase the value of such contributions to wedding parties?
4. Describe ways that Fox Lake can make it easy for wedding parties to contribute their social capital to Fox Lake via Facebook and via Twitter.
5. Traditional CRM, in which resources are allocated to customers on the basis of their lifetime value, makes no sense for weddings, unless Fox Lake wants to market to those most likely to divorce.
Anne understands this and decides that social CRM makes more sense. Suppose she wants to create a variety of touch points for those who are in the market for wedding sites. Using the SLATES model, specify how Fox Lake could create a social CRM site with the following elements:
a. Search
b. Links
c. Author
d. Tags
e. Extensions
f. Signals
Summarize your recommendations for Anne in a one-page memo.
6. Prepare a 2-minute summary of what you have learned from this exercise that your group's members could use in a job interview. Give your presentation to the rest of the class.