An
article today discussing the pending demise of
Second Life (the online refuge for those with no first life) served to remind us yet again that just because something is hyped and trendy does not mean you should rush out and invest in it.
Second Life has been touted for the last 2 years as being "the next big thing" and "the future of the online world". Recruiters and corporates have
invested heavily in it.
Well it turns out Second Life isn't all that. Here is an extract from the article:
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Those who can't do, teach. Second Life, the most overhyped virtual world, has been abandoned even by its most fervent journalistic promoters, like Reuters and Wired. It's now pitching itself as an online schoolhouse.
How fitting, since Second Life, a piece of software which allows users to move "avatars" representing themselves around in a three-dimensional space and decorate themselves and their virtual land, resembles nothing so much as a failed academic experiment.
Linden Lab, the maker of Second Life, has raised $19 million in venture capital from a star-studded list of backers, including Benchmark Capital, the backers of eBay; eBay founder Pierre Omidyar; Mitch Kapor, the founder of Lotus; and Amazon.com CEO Jeff Bezos. But the last infusion came nearly three years ago. The company charges fees on people and companies who own virtual land in Second Life, and also issues a currency, Linden dollars, used to trade goods in-world. Kapor, the company's chairman, told the Financial Times last year that it was "absolutely in the ballpark of profitability."
Second Life may well be on the verge of profitability. But it is firmly headed into irrelevance. It is impossible to imagine another BusinessWeek cover story like the one it garnered in 2006. Reuters closed its Second Life bureau last year. The former bureau chief, Adam Pasick, told PBS's Mark Glaser that there was no longer a there there:
We were primarily interested in Second Life as a business/commerce/finance phenomenon, covering it like we would any small but fast-growing economy in the real world. The bureau is now closed. Essentially the story we were there to cover has moved on.
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At the risk of sounding like an irksome bore
I want to emphasise again the importance of not getting the social media cart before the horse.
Before you even think about investing in social media recruitment strategies you should ask the following questions of your business:
- Do we have a strong brand?
- Do we have a compelling web site where candidates can find and apply for our jobs and interact with us?
- Are we getting people to our web site? If so where from, what do they do there, what do they think of the site and are we converting them to job applications?
- Do we rank on page 1 of relevant Google searches?
- Are we taking advantage of all other available online sourcing options? (within budget, niche etc).
- Do we have efficient and effective recruitment systems that track, measure and report on the effectiveness of our sourcing strategies?
- Do we communicate well with the candidates we already have?
- Do we have a referral program in place and is it effective?
- Are we taking full advantage of the products and advanced options on proven sites like SEEK and MyCareer?
Very few Australian recruiters can tick even half of these boxes.
If you are not across most or all of these points then you should really forget about Facebook and MySpace for now and focus on at least catching up to the market leaders.
Unfortunately there is no magic social media turbo boost button that is going to send you flying to the front of the race.