The Value of Virtual Friends

Can you really put a price on your social networks? Apparently, yes.

Aside from the social capital generated from social networks, recent research suggests a relationship between social network and earning power.

Porter Novelli CMO Marian Salzman suggested as much in her recent trends discussion in Seattle. Marian predicted platforms like Facebook and Twitter may shift to a model where those with extensive personal networks will continue to use the service for free down the road. Maybe even earn money from them as marketers increasingly look to leverage the power of these social networks and word-of-mouth communications.

According to BusinessWeek: "Companies like IBM, Microsoft and Yahoo! are hiring economists, anthropologists, and other social scientists to map and classify new types of friendships—and put a value on them."

It's probably a bit early to place a value of the broadening variety of personal connections made on the Web, but in the meantime I'll continue to build up my own. You never know how they may pay off down the road.