Socialnomics: How Social Media Transforms the Way We Live and Do Business
Howard Lake | 7 April 2013 | News
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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.
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.
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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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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.