The latest headlines from the social networking realm:

• More Firms Create High-end, Custom Social Networks
  “A highly customized social network can run between six and seven figures. But those are ones with lots of bells and whistles. Even with the cost, social networks have become the Web site of this decade. Back in the ’90s if you didn’t have a Web site you were irrelevant; the same was true with having an e-commerce site in 2001. That is where social networks are right now.”
  I couldn’t agree more with Jerry Sheer in this candid interview with the Wall Street Journal
• stickK Introduces the Self-Contract
  “stickK is designed to promote a healthier lifestyle by allowing users to create “Commitment Contracts” that oblige them to follow through with commitments such as exercise and quitting smoking.”
  An innovative spin on offering value to users while encouraging repeat visits and follow-through. This is a feature that will be interesting for other social networking websites as well to examine and incorporate with the right audience/niche.
• Social Network Marketing Campaign Strategies for Success
  “Many brands are considering it, some have done it. Done what? Marketed on social networks (Facebook, Myspace, or private label social networks). Why? Social Networks are attractive because consumers are connecting with other consumers and the trust tends to be higher. Secondly, there’s a tremendous amount of buzz from the media for this newest form of marketing. Lastly, there’s lots of folks using social networks (about 2/3rds of all North American youth use it daily, and about 1/3rd of NA adults use it as least once a month –data From Forrester Research, Q4, 2007)”
  A well-written breakdown of key areas to consider in terms of running marketing campaigns on social networks.
• Fake Facebook Profiles
  “Make a spoof celebrity profile on a major social network lately? Well, don’t. Not if you live in Morocco, at least. 26 year-old Fouad Mourtada, an IT engineer, has been arrested for making a fake Facebook profile for Prince Moulay Rachid, the younger brother of King Mohammed VI, according to FaceReviews.”
  5 years in prison? Are you serious? Facebook & mySpace scammers beware!
• The Web 2.0 Marketplace
  “Buy, sell, and trade anything Web 2.0″
  Excellent resource. This marketplace has categories including: websites for sale, websites wanted, jobs available, jobs wanted, consulting, blogger jobs, bloggers for hire, platform/software providers, Facebook developers, events, domains for sale, seeking funding, etc…

In what’s becoming a crowded space (though don’t get me wrong, there is still much seating and standing room), social networking websites in mass have “officially” arrived. Sure, the industry powerhouses have been around for some time now, but over the last couple of years it’s feeling like “Star Wars — Attack of the Clones” with all of the social networking websites cropping up around this niche and that specialty and those demographics. It’s similar to the domain name explosion or the rise of e-commerce; more often than not if you can think it, chances are there’s a social network around it.

So what’s my point, you ask? The point is, if you’re going to build a successful social networking website and you want a vibrant community (as no matter what your goals are with the website, community will be critical), you must avoid the idea of simple cloning what’s already out there. Sure, the up-and-coming social networking platforms (like Ning and Pringo Networks) can put the power of deploying a social networking website in the hands of anyone. And, for many, this approach will work extremely well (we’ve launched 5 or 6 Ning networks ourselves!), but sometimes a mass-market solution is only a solution to a mass-market problem. And with the mass-markets being heavily drooled over by the likes of Facebook and mySpace, the smaller markets are becoming king. Small IS the new big when it comes to social networking, apparently, and therefore it matters what platform you use and how many others use the same.

But it’s not just about a more custom social networking site, though. This certainly won’t ensure growth… you can get a social network created free via Ning or you can spend $250k on developing a completely custom monster, but at the end of the day the money you spent doesn’t mean piddly if the rest of the recipe is out-of-wack. In fact, it can’t be narrowed down to your design, your innovative functionalities, or your clever branding either.

It’s: a passionate topic/niche + a vibrant community + an innovative spin on integrating social networking functionalities = a solid platform to build from. Disappointed? If you’re were hoping for the “make it big in social networking” winning formula, I’m sorry to let you down! It’s that same thinking, though, that you MUST fight. There is NO standard formula or method for social networking success. And the problem is, too many are trying to find or build sites using just that kind of thinking!

So… back to reality: how can you build on that solid social networking platform you have? To start:

• Write (or have written) better copy (or different or cooler or sexier or more entertaining)
• Ask different (or more intuitive or funny) profile questions
• Use innovative spins on traditional methods and technology (e.g. a new spin on user dashboards or a new way of searching profiles, etc…)
• Employ unique ways of showing boring data (can stats, rankings, points, stars, levels, thresholds be expanded into remarkable visuals?)
• Be proactive (just because you don’t have to do something doesn’t mean it won’t help in 6 months)
• Make it viral (viruses don’t spread without a method of transmission, neither will your social network)
• Pat them on the back (give your users incentives, rewards, titles, roles, or whatever it will take to pat them on the back and make them feel good about themselves… it’s simple, but it works every time!)

Want more ideas on how you can set apart your social networking website? Then check out the following:

• Social Networking Differentiation
• Ideas for Differentiating a Social Networking Application