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March 1, 2010

Here is a breakdown of the reasons listed in the video:

  1. Social media is now the number one online activity, beating porn and personal email to the top spot.

  2. Because 2/3 of the global Internet population visit social networks.

  3. Because time spent on social networks is growing at 3X the overall Internet rate, accounting for 10% of all Internet time.

  4. Because online, including social media, has become the most influential source in helping consumers make purchasing decisions.

  5. Because millions of people are creating content for the social web.

  6. Because the next 3 billion consumers will access the Internet from a mobile device.

  7. Because Facebook is now the operating system of the social web.

  8. Because Twitter believes it will have 1 billion users by 2012.

  9. Because one way marketing has had its day.

  10. Because in almost all cases social media is free.

    I love charts and graphs and statistics. But I found these even more interesting than usual. 

    For one thing is social media is beating porn and email. Porn and email is what the internet was based on. For social media to top that? That’s just huge. Add in the rate at which social media usage is growing and wow. Just wow. 

    I think the note about social media becoming the most influential source in helping consumers make decisions is just huge, for both consumers and companies. For consumers because it allows you get feedback on a product from “real people” and also creates a demand for company transparency. With the dawning of social media and its continuing usage increasing at phenomenal rates, companies are losing the ability hide things, whether it be shoddy products or terrible customer service. This is also big for companies, because if they’re paying attention, it opens up a whole world of possibilities for improved products and customer service, along with better marketing for specialized niches. It’ll be interesting to how this plays out over the next few years. 

    Also interesting to watch is Facebook and Twitter’s current dominance. I’m of the school of thought that everything has a rise and fall, so I’m interested to see when and where the fall will come, and most importantly why. It’ll also be interesting to see what rises from the ashes. I’m thinking that location based apps are the next big thing and either will become more heavily integrated into Facebook or a new Facebook-Foursquare hybrid will emerge. 

    Another interesting point is the last one about social media being free. While yes, the vast majority of social media channels are free, most have ads, so technically you are paying in some way. Whether advertising divisions of companies shape up and deliver more customized ads remains to be seen. 

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