Some big stories (and rumors) in the last 24 hours that highlight the trend shaping online attention, is the “Like Economy”.

Google changed the web when 2 college students realised that when someone added a link to another website on their own site it was an endorsement, a way of passing on authority and thereby making the site that was being linked to more of an authority. That was back in the good one days when webmasters were pretty much the only ones who could create links, now through Social Media, people power links.

The rise of Social Media sites like Twitter and especially Facebook has seen a big shift in the way traffic and attention on the web are directed. In March this year Facebook passed Google for monthly traffic. Which in a round about way means you are more likely to discover my webpage via one of your friends sharing it on Facebook then you searching for it in Google.

So What Is The “Like Economy”?

The “Like Economy” is discovery of online content directed by the other people clicking a Facebook Like button, sharing it on Twitter or LinkedIn or similar social network. “Like” data is already being incorporated into Search Engine Results, however the technology is evolving very rapidly. All the major platforms are making big moves in the last quarter of 2010 in an effort to win market share of your online attention. In 2011 expect a “Taste Graph” to start influencing the online content you consume, that is people who have similar interests to you are likely to determine the content you are served on Social Media sites and on Search Engines.

Google Me a Facebook Killer, Maybe?

Google has been adding social elements to many of it’s services for some time now. For example Google Hotpot adds social recommendations to Google Maps. Rumors have been circulating that Google is building a Facebook Killer. Overnight Mashable reports that Google Me may launch in April or May 2011. Will it be the Facebook Killer? If there is any company that has the resources to pull it off it’s Google. However at the moment Facebook has a huge advantage and has plenty of developments of it’s own, e.g. Facebook Messages, Facebook Places, and Facebook Deals

LinkedIn Adds A Share Button For Your Website

LinkedIn is a powerful Social Network for business professionals. Their recent announcement of a LinkedIn like button for publishers means that you can easily connect your website to the LinkedIn ecosytem. More connection, more relevance and more data for the “Like Economy”.

Here is an example of the Like Button in action, expect to see these popping up all over the web as well.

So How Do I Take Advantage Of The “Like Economy”?

This is a big topic and one that I will cover more in the coming weeks and months, however here are a couple of action items to start with.

• If you haven’t already, sign up for LinkedIn and Twitter and create a Facebook Business page as a minimum.
• Find the thought leaders in your niche or industry and start connecting with them. These people will become your “taste graph”, your trusted filters. Like their Facebook Pages, add them as connections on LinkedIn, follow them on Twitter, etc
• Enable Social Sharing on your website. Lots of platforms have this built in, if not maybe shift your website to WordPress
• Find some quality content in your areas of interest and start sharing it on LinkedIn, Twitter, and your Facebook Page

Oh and if you don’t mind, could you please like and share this page