Social Media Revoulution 2011

This is my 100th post and I believe best way to celebrate this is to share a great video from Eric Qualman's blog http://www.socialnomics.net/ .
In case of you can not open the video due to some filtering issue please find the key statistics below!
Enjoy!


Stats from Video (sources listed below by corresponding #)
1.Over 50% of the world’s population is under 30-years-old

2.96% of them have joined a social network

3.Facebook tops Google for weekly traffic in the U.S.

4.Social Media has overtaken porn as the #1 activity on the Web

5.1 out of 8 couples married in the U.S. last year met via social media

6.Years to Reach 50 millions Users: Radio (38 Years), TV (13 Years), Internet (4 Years), iPod (3 Years)…

7.Facebook added over 200 million users in less than a year

8.iPhone applications hit 1 billion in 9 months.

9.We don’t have a choice on whether we DO social media, the question is how well we DO it.”

10.If Facebook were a country it would be the world’s 3rd largest ahead of the United States and only behind China and India

11.Yet, QQ and Renren dominate China

12.2009 US Department of Education study revealed that on average, online students out performed those receiving face-to-face instruction

13.80% of companies use social media for recruitment; % of these using LinkedIn 95%

14.The fastest growing segment on Facebook is 55-65 year-old females

15.Ashton Kutcher and Ellen Degeneres (combined) have more Twitter followers than the populations of Ireland, Norway, or Panama. Note I have adjusted the language here after someone pointed out the way it is phrased in the video was difficult to determine if it was combined.

16.50% of the mobile Internet traffic in the UK is for Facebook…people update anywhere, anytime…imagine what that means for bad customer experiences?

17.Generation Y and Z consider e-mail passé – some universities have stopped distributing e-mail accounts

18.Instead they are distributing: eReaders + iPads + Tablets

19.What happens in Vegas stays on YouTube, Flickr, Twitter, Facebook…

20.The #2 largest search engine in the world is YouTube

21.While you watch this 100+ hours of video will be uploaded to YouTube

22.Wikipedia has over 15 million articles…studies show it’s more accurate than Encyclopedia Britannica…78% of these articles are non-English

23.There are over 200,000,000 Blogs

24.Because of the speed in which social media enables communication, word of mouth now becomes world of mouth

25.If you were paid a $1 for every time an article was posted on Wikipedia you would earn $1,712.32 per hour

26.25% of search results for the World’s Top 20 largest brands are links to user-generated content

27.34% of bloggers post opinions about products & brands

28.Do you like what they are saying about your brand? You better.

29.People care more about how their social graph ranks products and services than how Google ranks them

30.78% of consumers trust peer recommendations

31.Only 14% trust advertisements

32.Only 18% of traditional TV campaigns generate a positive ROI

33.90% of people that can TiVo ads do

34.Kindle eBooks Outsold Paper Books on Christmas

35.24 of the 25 largest newspapers are experiencing record declines in circulation

36.60 millions status updates happen on Facebook daily

37.We no longer search for the news, the news finds us.

38.We will non longer search for products and services, they will find us via social media

39.Social Media isn’t a fad, it’s a fundamental shift in the way we communicate

40.Successful companies in social media act more like Dale Carnegie and less like Mad Men Listening first, selling second

41.The ROI of social media is that your business will still exist in 5 years

42.Bonus: comScore indicates that Russia has the most engage social media audience with visitors spending 6.6 hours and viewing 1,307 pages per visitor per month – Vkontakte.ru is the #1 social network

Socialnomics by Eric Qualman

This new book I recently finished and would like to share is called Socialnomics and written by a very bright person named, Eric Qualman.

This book was published in 2009 and covers many recent social media related topics from mini-blogging to 2008 US presidential campaign.

I took some notes from the book and posted below. I highly recommend this book to all have an interest in social media and new forms of marketing and economics.

• Word of mouth goes to world of mouth
  In the future, we will no longer look for the news, rather, the news will find us (via soical media), or we will create it!
  Business models need to shift. Simply digitizing old business models doesn’t work.
  Not all great viral marketing ideas need to originate in marketing department (!)
  
• Social media = Preventive Behaviour
  What happens in Vegas, stays on YouTube (not only in Vegas anymore)
  Negative comments and posts are easier to find with social media.
  Companies have more time to focus on the solution rather than spanding time to find it.
  
• Reality Social Media is in
  Reality TV has been replaced by reality social media – it’s all about my own reality and my environment.
  “Are you on facebook?” is the new “can I get your phone number?”
  Social media is the new inbox. E-mail is antique for new generations.
  
• Obama’s Success
  Companies should learn from Obama’s faith in social media – Obama would not be president without internet.
  
• Social + commerce = socialommerce
  Social media helps eliminate different people performing the same tasks, resulting a more efficient purchase and also society.
  Customers will have the ability to see what their friends and colleagues found relevant, researched, purchased, and commented on.
  Successful companies in social media will function like entertainment companies rather than as traditional advertisers.
  The most successful social media app. are those that allow users to look cool by passing it on.
  
• Marketers’ jobs have changed:
  Yesterday
  It’s all about sex and the sizzle of the message and brand imaginery
  It’s all about the message; good marketers can sell everything
  We always know what is right for the customer
  We develop the products in house and then deliver
  Today
  It’s important to listen and respond the customer needs
  It’s all about the product; constant communication with all other departments is important
  We never know what is exactly right for the customer
  Our customers will market our product better than we can, so let’s involve their ideas
  
• Winners and Losers in a 140-Character World (miniblogging, e.g. twitter)
  Nowadays conversations with consumer occur within platforms like Facebook, YouTube, Twitter.
  No company is perfect, so admit your faults and the public will respect you for it (Toyota effect)
  Your dissatisfied customers/fans of today are the potential competition of tomorrow.
  It’s better to live a social media life making mistakes than living a social media life doing nothing.
  
• Glass House Generation
  Smart companies are moving dollars from traditional channels to incentives for users (buyers) to discuss their products within a social media context.
  Don’t build your own social network, better get connected to the best tools that exist.
  In the near future the overall achievement of companies will be largely dependent on their social media success.