Social Media Revolution 2013

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Erik Qualman, the creator of this video, has certainly generated curiosity about himself. I’ve now Googled him and checked out his Wikipedia profile. He’s coined a word, “socialnomics: word of mouth on digital steroids.”

The video is a good promotion for the growing importance of social media: “90% of consumers trust peer recommendations,” compared to only 14% who trust advertising.

And I want to know more about how “we will no longer search for products and services…they will find us via social media.”

I do think there’s still a tangible sales pitch to be done on the ROI on social media, not simply that, as Qualman says, the ROI “is that your business will still exist in five years.”

The quick factoids in this video raise a lot of questions:

1.  So now I’m curious about how the successful Ford Explorer launch on Facebook is a model for other company advertisements. Click.

2. Facebook claims one billion members, but how many actually use it routinely?

3. Each day 20 percent of Google searches have never been searched before. Are searchers finding what they need? What implications does that have for organizations and entrepreneurs?

4. “In 10 years, 40% of Fortune 500 companies will no longer be here.” You mean, on the Fortune 500, or no longer exist? What is the implication for business from this statistic?

5. One in five couples “meet online”? Does that mean for the first time, or simply that they communicate online? It’s certainly true that social media has revolutionarized dating.

6. One in five divorces “are blamed” on Facebook. Meaning…? Couples are always looking for a better deal, a better spouse? Affairs are easier? Couples are zoning out on Facebook rather than communicating in person?

7. “Generation Y and Z consider email passe.” Yes, so how do we reach them? Text? Cell phone? Facebook chat? Skype? I know land lines are very passe.

8. “69% of parents are friends with their children on Facebook,” meaning that nearly 30% aren’t. Why not?? “92% of children under the age of two have a digital shadow.” Meaning their photos or announcements of their birth or activities have been posted online, I presume.

9. “Every second two new members join” Ok, but how many actually use it regularly?

10. “Social gamers are buying $6 billion in virtual goods in 2013” compared to only 2.5 billion spent by movie-goers on such things as popcorn. You’ve got to be kidding!What a waste.

11. “97% of P-Interest Fans are women.” So what do they use it for?

I posted this video to Facebook, and one of my friends replied: “Social media is over-rated.. in terms of business. How long ago was it that Facebook share values plummeted like a rock? As a person who has actually tried advertising on Facebook… I know it doesn’t work as well as search engines…This video is just out there to hype social media. As a mathematician though, I could tell you there are quite a few things wrong with those statistics (although not obvious for an average person to pick up).

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