So you think Social Media is a fad?
One of the videos I saw presented at last Tuesday’s Dell B2B Social Media Huddle was Erik Qualman’s (@equalman) Social Media Revolution (refresh). Set to the tune of Fat Boy Slim’s Right Here, Right Now, this video gives a whole load of statistics (the sources for which may be found on Erik’s Socialnomics Social Media Blog):
For those who can’t see the video, here are the stats:
- Is Social Media a Fad?
Or the biggest shift since the Industrial Revolution?
- Welcome to the revolution
- Over 50% of the world’s population is under 30 years old
- 96% of Millennials have joined a social network
- Facebook tops Google for weekly traffic in the U.S.
- Social Media has overtaken pornography as the #1 activity on the Web
- 1 out of 8 couples married in the U.S. met via social media
- Years to reach 50 million users:
- Radio 38 years
- TV 13 years
- Internet 4 years
- iPod 3 years
- Facebook added over 200 million users in less than a year
- iPod application downloads hit 1 billion in 9 months
- “We don’t have a choice on whether we do social media, the question is how well we do it.” – Erik Qualman
- If Facebook were a country, it would be the world’s 3rd largest
[behind China and India, ahead of the United States, Indonesia, Brazil, Pakistan, Bangladesh…]
Yet QQ and Renren dominate China
- US Department of Education study revealed that online students out performed those reciving face-to-face instruction…
- 80% of companies use social media for recruitment
- % of those using LinkedIn…95%
- The fastest growing segment on Facebook is 55-65 year-old females
- Ashton Kutcher and Britney Spears have more Twitter followers than the entire populations of Sweden, Israel, Switzerland, Ireland, Norway, [or] Panama.
- 50% of mobile Internet traffic in the UK is for Facebook
Imagine what this means for bad customer experiences
- Generation Y and Z consider e-mail passé
- Some universities have stopped distributing e-mail accounts
Instead they are distributing eReaders, iPads, Tablets
- What happens in Vegas stays on
- YouTube is the 2nd largest search engine in the world
- While you watch this [4′ 26″ video] 100+ hours of video will be uploaded to YouTube
- Wiki is an Hawaiian term = Quick
- Wikipedia has over 15 million articles
Studies show it’s as accurate as Encyclopaedia Britannica
78% of those articles are non-English
If you were paid $1 for every article posted on Wikipedia you would earn $1712.32 per hour
- There are over 200,000,000 Blogs
- Word of mouth [leads to] World of mouth
- 25% of search results for the World’s Top 20 largest brands are links to user-generated content
- 34% of bloggers post opinions about products and brands
- Do you like what they are saying
about your brand?
- People care more about how their social graph ranks products and services than how Google ranks them
- 78% of consumers trust peer recommendations
- Only 14% trust advertisements
- Only 18% of traditional TV campaigns generate a positive ROI
- 90% of people skip ads via TiVo/DVR
- Kindle eBooks Outsold Paper Books on Christmas 
- 24 of the 25 Largest Newspapers are Experiencing Record Declines in Circulation
- 60 million status updates happen on Facebook daily
- We no longer search for the news, the news finds us…
- We will no longer search for products and services
they will find us via social media
- Social Media isn’t a fad, it’s a fundamental shift in the way we communicate.
- Successful companies in social media act more like Dale Carnegie and less like Mad Men
Listening first, selling second
- The ROI of Social Media is [that] Your Business Will Still Exist in 5 years
- Still think social media is a fad?
- Welcome to the World of Socialnomics
- Are You Ready?
The video is really an ad for Erik’s book (Socialnomics: How Social Media Transforms the Way We Live and Do Business) but those statistics are pretty compelling… so, do you still think Social Media is a fad?