Socialnomics. In his groundbreaking book, The Long Tail, Chris Ander- son eloquently describes the ability of the Internet within free markets to. Socialnomics, Erik Qualman shows how easy it is for individuals to . Information about this book and other business titles: wm-greece.info SOCIALNOMICS. HOW SOCIAL MEDIA. TRANSFORMS THE WAY WE LIVE About This Book xv. Introduction: It's a People-Driven Economy, Stupid xvii.
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A strength of this book is Erik Qualman's ability to take complex issues and break them . Socialnomics is the value created and shared via social media and its. Socialnomics: How social media transforms the way we live and do business Exam questions on this book are likely to be based on the questions below. As a whole, the public wants to stay Socialnomics, Erik Qualman shows how as notes that Information about this book and other business titles: may mention.
When the Iranian government shut off all outgoing communication channels, a revolution within the country was made known to the world via Twitter.
Relief efforts poured into Haiti via texted donations and digital applications. Disasters, from flu to fires and from terrorist attacks to earthquakes, are being tracked and disseminated to mainstream news more quickly than ever before. It was uploaded to Twitter. It's also heartening to see that many of the most popular applications and widgets are those that help people easily donate to various causes and charities. The great paradox is that this swath of society that is seemingly narcissistic and navel-gazing is also one of the most collaborative and community-minded when it comes to cause-related efforts.
They want to be part of something bigger than themselves. They want to make a difference in the world, and they believe in the collective power of the crowd. To put in perspective just how powerful this can be, if Facebook was a country, it would be the third largest in the world behind only China and India.
The winners in a socially driven world are numerous: good companies, good products, employees, consumers, democracy, entrepreneurial talent, and the environment—all creatures great and small.
However, it doesn't come without a price; the majority of what we consider to be our personal privacy may be a thing of the past. This opens up new challenges that may be resolved over time, but Andy Warhol's well-known statement about fame may very well be flipped on its head and read something like: In the future, we'll all have 15 minutes of privacy.
Socialnomics succeeds at helping us make sense of it all. A strength of this book is Erik Qualman's ability to take complex issues and break them into easily digestible takeaways through the use of real-world examples and analogies. He also peers into the future—seeing a world where products and services will find us via our social graph. He uses constructs that will apply in the years ahead even though the technologies are certain to change.
An item unique to this book is that as a reader you are encouraged to not read the book from start to finish. Instead, you're encouraged to jump around, looking for the items most relevant to you. Helpful summaries of the key points at the end of each respective chapter make this easy. Fittingly enough, this is similar to our social media usage behaviors. As Qualman correctly points out, we no longer search for the news; rather, the news finds us.
Even though you as a reader have the ability to skip sections of this book, if you're like me, you will find that most of the constructs and future models in this book are relevant and necessary to achieve success today and tomorrow. Scott Monty Ford Motor Company Acknowledgments Socialnomics could not have been completed without the help of many friends and family members.
First and foremost, my beautiful wife Ana Maria served a dual role of sounding board and support coach. My immediate family of Dad, Mom, Jay, Helene, Matt, Mary Alison, and my loving grandparents made certain to tell me when things weren't up to standard, but were also my greatest supporters. Matt's work and insight were especially vital in beefing up our case study section. To the Muellers and Youngs for their moral support. The legal mind of Chris Norton.
Julie Jawor's artistic eye.
And finally, to numerous friends and family who kept giving me positive reinforcement and ideas, just when they were needed most—you know who you are, and it meant more than you know.
See more superstars in Chapter 9. About This Book This book does not need to be read from start to finish like a sultry novel, nor should it be. Rather, it provides useful insight into changes in macro trends, behaviors, and constructs as a result of social media. Just like social media itself, this book is written in sporadically digestible sound bites, and, by the magic of my wonderful editor, Shannon Vargo, it is arranged so that you, the reader, can easily select an example, particular topic, or case study that is relevant to you or your company.
As such, I will occasionally repeat myself, but that's okay—studies show it takes three repetitions before something sinks in.
Hint: If you want more tactical information, jump to the back of the book. So, while this work will not win any Grammar Girl awards, I hope you find it informative, educational, and entertaining. Updates and augmentations to this book can be found at www. I love hearing from my readers at Twitter equalman or equalman gmail.
I adhere to my promise of personally responding. Introduction In , James Carville coined the phrase It's the economy, stupid.
Much has happened since , with the most powerful change being the ubiquitous adoption and assimilation of the Internet.
The Internet has revolutionized almost every facet of our business and personal lives. This last statement about the Internet is hopefully not news to anyone reading this book. What is news, however, is that today we are in the midst of yet another far-reaching revolution.
This revolution is being driven by people and enabled by social media. That is why over two decades later we are taking liberties with Carville's famous quote by adjusting it to: "It's a people-driven economy, stupid.
Socialnomics is the value created and shared via social media and its efficient influence on outcomes economic, political, relational, etc. Or, more simply put, it's word of mouth on digital steroids. A subset of this is that in the future we will no longer search for products and services; rather, they will find us via social media.
Socialnomics is a massive socioeconomic shift. If Facebook were a country, it would be the third largest country in the world behind only China and India.
Yet, some of the core marketing and business principles of the past few centuries will still apply, while other basic practices are becoming as extinct as the companies that continue to try to force them on the unwilling public. Businesses don't have the choice on whether to do social media; the choice is on how well they do it.
We are already seeing the economic potential of social media in its ability to reduce inefficient marketing and middlemen. Million-dollar television advertisements are no longer the king influencer of download intent. People referring products and services via social media tools are the new king. It is the world's largest referral program in history. When prepar- social networks, however, counteracts social schizo- ing to market a product or service on social networks, phrenic behaviors.
It is almost impossible to get every- networks. While there are downsides to having such thing right the first time. With the large amount of authenticity on social net- works, something less than flattering will eventually Corporations should also make sure to play to their be said about any company. The way an organization strengths. Advertising a wide variety of abilities is not reacts to these postings will determine whether or not as effective as advertising the one ability that they do they are a winner or a loser in the social media uni- extremely well.
Making themselves known in a spe- verse. For example, Charles Schwab spon- nization should ask the individual to take the game sored the very popular sports podcast Fantasy Football down, even though they violated copyright or trade- Today, and instead of simply mentioning Charles mark laws.
Doing so would only make the company Schwab and moving on to other talking points, they look staunch, old-fashioned, selfish, and out of touch. The more enjoyable the ad is for the con- the sorts of social media tools they will be using sumer to watch, listen to, or participate in, the more i.
Corporations should take are aiming for. This will cost face in order to deal with them effectively when the organization no money at all, and it will engage they arise.
For example, a company that makes Companies should also be careful not to cross the line wedding cakes should not call themselves by their between copyright and customer loyalty.
Traditional recruiting their profile name. Larger, more established compa- avenues such as job fairs and head-hunting firms nies may prefer to go with their brand name, but for will continue to exist in the near future, but not for smaller, niche companies it is a better idea to use key- much longer.
Today, companies are beginning to words instead of fringe company names in order to focus the vast amount of their job recruiting ventures bring more potential customers to their profile.
More Some companies may feel inspired by social media information can be learned about both the applicants and decide that they should start their own social net- and the organization simply from reading over their work just for their organization. Doing so, however, is respective profiles.
This information was often diffi- a bad idea. This does not allow employees to integrate cult or impossible to obtain in previous years, and the their work into their personal life, which broadens the increase in personal data makes it easier for compa- reach of the organization, and even loyal fans of the nies and applicants to determine whether or not they brand are not likely to start up another profile on an are right for each other.
Because of this phenomenon, entirely different social networking site that relates the number of appropriate matches between busi- only to one specific brand.
Instead, corporations nesses and employees has increased significantly should focus on being where their customers are and within recent years. Job seeking will become more referral based in the same way that businesses are becoming more referral The people and corporations of today live in glass based. Rather than simply posting want ads, organi- houses; they need to be appropriate and effective zations may reach out to people they know on their while maintaining transparency.
These job seekers should also make sure and it is because of this that both organizations and to include feedback from various divisions, compa- their employees will need to pay close attention to nies, and peer groups on their profiles to ensure that the appropriateness of their personal activities in the they come across as well-rounded to possible future future.
Focusing too much on building the work The field of advertising is changing as well. In the or personal aspect of their social networking profiles future, some companies will begin to pay consum- may make them seem unbalanced.
This cuts out the middle- g g g g man and results in more money for the company and more money for the consumer. Banner ads will also Features of the Book decrease in use as more creative and engaging online Reading Time: hours, pages marketing methods become apparent. Search and to individuals who are interested in getting the engines themselves will become more sophisticated most out of their social networking profiles. The book as tagging and online profiling technologies advance.
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