Erik Qualman is the author of "Socialnomics: How Social Media Transforms the Way We Live and Do Business" as well as a speaker on social media. He writes for ClickZ Magazine and Search Engine Watch.
Socialnomics: How Social Media Transforms the Way We Live and Do Business
Social media platforms like Facebook, YouTube, and Twitter are fundamentally changing the way businesses and consumers behave, connecting hundreds of millions of people to each other via instant communication. This is a massive socio-economic shift that is fundamentally changing the way consumers and companies communicate and interact with each other.
Welcome to the world of Socialnomics - where consumers and the societies they create online have a profound influence on our economy and the businesses that operate within it. Online word of mouth and the powerful influence of peer groups have already made many traditional marketing strategies obsolete. Today's best businesses and marketers are learning to profitably navigate this new landscape.
This is an updated video on "The Growth of Social Media"
August 21, 2009
"Is social media a fad or the biggest shift since the Industrial Revolution?"
"@equalman By 2010, Generation Y will outnumber the population of Baby Boomers and 96% of this younger generation are currently on a social network"
True fact: People would rather give up e-mail than their social network according to Erik Qualman, author of SOCIALNOMICS: How social media transforms the way we live and do business (Wiley; August 2009; $24.95). As a result of the birth of social media - this book provides explanations into the changes of macro trends, behaviors and constructs of the biggest shift since the Industrial Revolution.
Erik Qualman takes the creative liberty of adjusting James Carville's famous 1992 Clinton Campaign line from "It's the economy, stupid" to "It's a people driven economy, stupid". This modified phrase helps accentuate a key point, explaining that today we no longer search for the news, rather it finds us. In the same vein, consumers will no longer search for products and services; rather they will find us via social media.
Using real world case studies, SOCIALNOMICS explores why and how companies like NBC, Comcast and John Deere are acting more like Dale Carnegie and less like David Ogilvy; listening first and selling second. Aside from Fortune 500 companies, this book also helps show small businesses and entrepreneurs the pitfalls to avoid and opportunities to capitalize on from using social media as a primary business tool.
Through extensive research, Erik Qualman shares statistics explaining just how prevalent social media has become in our business and personal lives:
* Social Media has overtaken porn as the #1 activity on the Web
* If Facebook were a country it would be the 4th largest in population size
* Generation Y and Z consider e-mail passe .In 2009 Boston College stopped distributing e-mail addresses to incoming freshmen
* 80% of Tweets happen on mobile devices
* 24 of the 25 largest newspapers are experiencing record declines in circulation because we no longer search for the news, the news finds us.
* More than 1.5 million pieces of content (web links, news stories, blog posts, notes, photos, etc.) are shared on Facebook...daily.
* 78% of consumers trust peer recommendations; only 14% trust advertisements
* The fastest growing segment on Facebook is 55-65 year-old females
SOCIALNOMICS proves that social media is NOT a fad, yet merely a fundamental shift in the way we communicate. Qualman helps to share ideas on how to harness the power of the social sphere to help increase sales, cut marketing costs, and reach consumers directly. Rather than feel overwhelmed and beat by competing companies, SOCIALNOMICS shares the value of becoming part of this socioeconomic revolution.