Compliance & Social Commerce
Tweets & Posts
Social media represent a relatively new Internet-based phe-
nomenon, having existed for only a dozen years and enjoyed wide popularity
for about five. But they have become such staples of our culture that they will
likely be a permanent part of online commerce, in some evolving fashion,
and this commerce will increasingly include financial services.
Social media or, more specifically, “social commerce”
sites include social networking sites, such as Facebook,
MySpace, and LinkedIn; sites where consumers exchange
information about products and services, such as ratings and reviews forums on company order pages; and
company-sponsored blogs.
Consumers have long discussed products and services
with each other and have asked and received advice about
what to buy. But the social networking tools available to the
purchaser of financial services today are unprecedented, and
nearly all have evolved over the last decade.
Who participates in social commerce? It’s not just mil-
SOCIAL NETWORKING TIMELINE
The term “weblogging” (now shortened to “blogging”) is coined to describe
the practice of keeping an online diary for others to read. The first public
social networking site ( sixdegrees.com, now defunct) was launched.
1997
1998
1999
2000
2001
2002
