Why social media is here to stay

Erik Qualman, founder of Socialnomics, recently released his fifth video in the Socialnomics Series, and its findings are not only staggering but also a reminder that social media is here to stay. Here’s why:

Social media: not just for the young

We’ve said it before and we’ll say it again: if you’re not on social media, you’re missing out. It isn’t a trend or something “the kids do”. With over 50% of the world’s population under 30 years old, social, mobile and digital messaging will only rise. However, it’s not just young people who are embracing this new way of communicating. What’s truly surprising is grandparents are the fastest growing demographic on Twitter. If grandparents can adapt to new technology, so can you!

Social media and consumers

When you’re shopping online, regardless if it’s clothing or camping gear, would you be more apt to buy a product with lots of reviews or none? We thought so. If consumers have a positive experience, whether it be through customer service or product reviews, you can guarantee they’ll talk about it on social media. With that in mind, this shouldn’t be too surprising: 53% of people on Twitter recommends products in their tweets. And this stats warrants huge consideration: 90% of consumers trust peer recommendations, while only 14% trust advertisements. Sure, advertisements might inform you of new products, but the audience today won’t take advertisers’ word alone. They look to their peers for validity.

And these peers everyone is seeking out for opinions and recommendations from? They’re using social media. Many of us do it without even thinking. Posts like, “Does anyone have a great concrete repair company they can recommend?” or “ISO: home to rent” are rampant on social media sites. Consumers are spreading messages about companies and brands and those are the conversations we’re all listening to. Brands would do well to pay attention and learn about how others perceive them in this light as well.

Creating, curating, connecting and culture

They say the average attention span of a person is :07 seconds, slightly worse than a goldfish at :08 seconds. So, if you’re still reading, you’re better than the average person! When you think about it, we are constantly being pulled in different directions and only have time to absorb so much information. This realization has led to a new marketing school of thought. Rather than solely thinking of the four Ps of marketing: product, place, price, and promotion. Instead, we should be applying the four Cs of the digital world: creating, curating, connecting, and culture. Social media is about engaging in conversations with real people. Don’t be afraid to humanize your company. The lines between consumer and company have been blurred. Don’t get left behind in a black and white world.

We’ll leave you with the full-length video, but just remember, “We don’t have a choice on whether we do social media. The choice is how well we do it.”- Erik Qualman