# Socialnomics: How Social Media Transforms the Way We Live and Do Business

- Link: https://fundraising.co.uk/2013/04/07/socialnomics-how-social-media-transforms-the-way-we-live-and-do-business/
- Published: 2013-04-07T21:42:58+01:00
- Author: Howard Lake

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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.

 

 

 

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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.

 

 

 

Brands can now be strengthened or destroyed by the use of social media. Advertising
is less effective at influencing consumers than are the opinions of their peers,
making direct–to–consumer marketing messages less valuable each day. But savvy companies
are using online networking sites as massive focus groups and as an efficient means
of communication with consumers. If social media isn′t a part of your business strategy,
you′ve already fallen behind the curve—and your competition.

 

 

 

In Socialnomics, Erik Qualman offers a fascinating look at the impact of social 
media on business to reveal what the future holds and how businesses can best take
advantage of it. He explores how social media is changing the way businesses produce,
market, and sell products; how it eliminates inefficient marketing tactics and middlemen;
and how businesses are connecting directly with their customers through popular 
social media platforms.

 

 

 

Social media will continue to change the way businesses market products and how 
consumers and businesses interact with each other. If you′re a marketer or business
owner, the big question is whether you′ll keep up with those changes. Socialnomics
is an essential resource for anyone who wants to understand the implications of 
social media, and how to tap its power to increase sales, cut marketing costs, and
communicate directly with consumers.

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