Erik Qualman’s Socialnomics

Erik Qualman – Socialnomics

“Social media offers a level playing field”

Eric Qualman recently spoke at out Excellence & Innovation Conference in Orlando. He shared with us his ideas of how and why social media levels the playing field for all businesses.

Simplifying the complexity of digital life is the key to success. For small and medium sized businesses social media should be almost as important as it is for larger businesses, if not more. This is because the resources they have, do not match up to those that larger companies have. Social media offers equal opportunity between small and large businesses (offering a level playing field).

Below are some interesting facts taken from the social media video in Erik’s presentation:

  • Over 50% of the world’s population is under the age of 30
  • Over 40% of the Fortune 500 is anticipated to no longer exist in 10 years’ time
  • Porn has been overtaken by Social Media as the #1 activity on the web
  • Weekly Google traffic in the U.S.A is topped by Facebook
  • A huge 1 in 5 straight couples meet online and a bigger 3 in 5 gay couples meet online
  • Blamed on Facebook is a massive 1 in 5 divorces
  • If Facebook were a country it would be the 3rd largest country in the world, with a population double the size of the U.S.A.
  • Half of the companies running SuperBowl commercials don’t post their ads onto YouTube

Doing nothing is the number one biggest social media mistake that businesses make. You need to be out there trying, making errors and learning from them. You need to set a pace and keep moving forward with social media, as it moves forward itself. With all of your businesses clients already using social media as a marketing tool, you have no choice but to use it yourself. If you don’t you’ll fall behind your competitors; if you do and you do it well, you’ll race ahead of your competitors. You need to have a social media plan if you want to be on top of your game.

“Social media is like word of mouth marketing but on steroids”

For businesses, word of mouth has always been one of the most powerful marketing tools, however social media has been described as powerful as word of mouth but on steroids! Meaning it is today’s most powerful marketing tool.
People now have the opportunity to share with hundreds of thousands of people their views and experiences with certain companies using different social media. Therefore word will spread fast for the companies with outstanding customer service and product, potentially helping them gain clients and customers. However, word will also spread fast for those with not so good customer service or product, potentially damaging business (if so, improvement is needed within the businesses services).

Online Reputation Importance

One important thing to remember is ‘what happens offline always ends up online’. This can great for your online reputation when positive however, things that end up online aren’t always positive.
A hard lesson was learnt by United Airlines when the company broke Canadian band member Dave Corroll’s guitar (from ‘Sons of Maxwell’). The airlines refused to reimburse Dave for his broken guitar, so he decided to take further action.
The further action he chose to take was simply by creating a video called ‘United Breaks Guitars’ and posting this video on YouTube. As soon as Dave posted this video, United Airlines reimbursed him for his guitar.
Now the video has almost 13 million views, that’s a possible 13 million people who have seen the video. United Airlines only paid him after he posted the video. That’s 13 million views and a lot of negative press they could have avoided if they had responded to him more professionally and promptly.
Watch the video here. 

Your Personal Digital Legacy

A digital legacy is something we all have. Digital legacy is made up of two things: Footprints and Shadows. Your Footprints are your digital actions, for example: your blog posts, statuses, comments, photographs and videos etc. Your Shadows are the digital actions that others have made/ posted about you.
Most children under the age of 2 already have their own digital legacy created independently by the information posted about them by others.

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About Rob Thomas

Rob lives and breathes Social Technology, Social Media & Mobile Marketing. He will show you how to use them to improve many areas of your bottom line, not just Marketing! He’ll show you how to enhance and protect your reputation, whilst generating increased sales, reduced costs and improved customer acquisition and retention. Recognised as an expert in reputation management, digital and mobile marketing, Rob is a professional speaker both in the U.S. and across Europe. In addition to consultation services, including the “12 step process to achieve Social Proficiency” programme, Rob also coaches, trains and provides implementation services to help business owners, organisational leaders and their teams. If you want/need Rob to speak at one of your events please email him rob.thomas@wsi-emarketing.com You can follow me on Google+