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13 Sep
Erik Qualman – Socialnomics

Posted by Francois Muscat On September - 13 - 2012

Erik Qualman, founder of Socialnomics

Erik Qualman, founder of Socialnomics

 

We’re in the midst of one of the biggest shifts we’ve ever seen. We go through shifts all the time, from ecommerce and portals to mobile – and now social media is providing the biggest shift of our times.

Social media levels the playing fields

Digital life is very complex, but those who simplify it, win. Social media is almost more important for small and medium sized businesses because they don’t necessarily have the resources that larger companies have. Social media levels the playing fields between small and large businesses.

A few facts from the social media video that Erik showed during his presentation:

  1. Over 50% of the world’s population is under 30-years-old
  2. In 10 years over 40% of the Fortune 500 will no longer be here
  3. Social Media has overtaken porn as the #1 activity on the Web
  4. Facebook tops Google for weekly traffic in the U.S.
  5. 1 in 5 couples meet online; 3 in 5 gay couples meet online
  6. 1 in 5 divorces are blamed on Facebook
  7. Gen Y considers emails passé. Some universities have stopped distributing e-mail accounts
  8. If Facebook were a country it would be the world’s 3rd largest and 2x the size of the U.S. population

The number one social media mistake that businesses make is doing nothing. They’re not out there learning and failing. They need to go fast and go forward – when it comes to social media, we need to increase our rate of failing. Businesses don’t have a choice about whether or not they’re doing social media because their clients are already using it, the only choice you have is how well you do it.

50% of companies running SuperBowl commercials forget to post their ads on YouTube, which shows that you always need to have a social media plan.

 

World of mouth on visual steroids

Social media is word of mouth marketing on steroids

Social media is word of mouth marketing on steroids

Word of mouth has always been the most important type of marketing for businesses, but with social media it’s word of mouth on visual steroids.

People now have the tools to post their experiences with a company on social media and share it with hundreds of thousands of people. If your company offers a great customer service and experience, you can thank social media for spreading the word. If not, you need to improve.

Social media and online reputations

You should never let your reputation run away with you, like what happened with United Airlines when the company broke Canadian musician Dave Corroll’s (from the Sons of Maxwell band) guitar. He created a video called United Breaks Guitars (watch the video here http://www.youtube.com/watch?v=5YGc4zOqozo). United Airlines refused to reimburse Dave for his guitar, until he made the video. Over 13 million people have watched this video on YouTube and United Airlines paid him when he posted the video, but they could’ve saved themselves 13 million views if they responded to him immediately. The key thing to remember is: What happens offline also goes online.

Your digital legacy

We all have a digital legacy. Digital Legacy = Footprints + Shadows. Your footprints are blog posts your write or anything you do. Shadows are what other people post about you. Most children under the age of 2 already have a digital legacy thanks to information that gets posted by others about them.

 

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Category: WSI Global Convention

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About the author: Francois Muscat
Francois Muscat is the WSI area representative for South Africa. Francois represents South African Consultants with excellence as he strives to ensure they achieve the utmost success. Francois has ...read more

 



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