Is Social Media a Fad or the biggest shift since the Industrial Revolution? Welcome to the Social Media Revolution:
Socialnomics: How Social Media Transforms the Way We Live and Do Business
Stats from Video (sources listed below by corresponding #)
- By 2010 Gen Y will outnumber Baby Boomers….96% of them have joined a social network
- Social Media has overtaken porn as the #1 activity on the Web
- 1 out of 8 couples married in the U.S. last year met via social media
- Years to Reach 50 millions Users: Radio (38 Years), TV (13 Years), Internet (4 Years), iPod (3 Years)…Facebook added 100 million users in less than 9 months…iPhone applications hit 1 billion in 9 months.
- If Facebook were a country it would be the world’s 4th largest between the United States and Indonesia (note that Facebook is now creeping up – recently announced 300 million users)
- Yet, some sources say China’s QZone is larger with over 300 million using their services (Facebook’s ban in China plays into this)
- comScore indicates that Russia has the most engage social media audience with visitors spending 6.6 hours and viewing 1,307 pages per visitor per month – Vkontakte.ru is the #1 social network
- 2009 US Department of Education study revealed that on average, online students out performed those receiving face-to-face instruction
- 1 in 6 higher education students are enrolled in online curriculum
- % of companies using LinkedIn as a primary tool to find employees….80%
- The fastest growing segment on Facebook is 55-65 year-old females
- Ashton Kutcher and Ellen Degeneres (combined) have more Twitter followers than the population of Ireland, Norway, or Panama. Note I have adjusted the language here after someone pointed out the way it is phrased in the video was difficult to determine if it was combined.
- 80% of Twitter usage is outside of Twitter…people update anywhere, anytime…imagine what that means for bad customer experiences?
- Generation Y and Z consider e-mail passé…In 2009 Boston College stopped distributing e-mail addresses to incoming freshmen
- What happens in Vegas stays on YouTube, Flickr, Twitter, Facebook…
- The #2 largest search engine in the world is YouTube
- Wikipedia has over 13 million articles…some studies show it’s more accurate than Encyclopedia Britannica…78% of these articles are non-English
- There are over 200,000,000 Blogs
- 54% = Number of bloggers who post content or tweet daily
- Because of the speed in which social media enables communication, word of mouth now becomes world of mouth
- If you were paid a $1 for every time an article was posted on Wikipedia you would earn $156.23 per hour
- Facebook USERS translated the site from English to Spanish via a Wiki in less than 4 weeks and cost Facebook $0
- 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 & brands
- 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 that can TiVo ads do
- Hulu has grown from 63 million total streams in April 2008 to 373 million in April 2009
- 25% of Americans in the past month said they watched a short video…on their phone
- According to Jeff Bezos 35% of book sales on Amazon are for the Kindle when available
- 24 of the 25 largest newspapers are experiencing record declines in circulation because we no longer search for the news, the news finds us.
- In the near future we will no longer search for products and services they will find us via social media
- More than 1.5 million pieces of content (web links, news stories, blog posts, notes, photos, etc.) are shared on Facebook…daily.
- Successful companies in social media act more like Dale Carnegie and less like David Ogilvy Listening first, selling second
- Successful companies in social media act more like party planners, aggregators, and content providers than traditional advertiser
Socialnomics: How Social Media Transforms the Way We Live and Do Business
The above statistics and “Social Media Revolution” video tell the story, social media isn’t a fad, it’s a fundamental shift in the way we communicate. Please feel free to share with any non-believers!
Huge Thanks to These Outstanding Sources
Below are the sources I used to compile this video. Keep your feedback/questions/challenges coming as it will collectively make video #2 that much better – you know leverage this whole “social” thing.
A huge thanks to all below:
- Source: Grunwald Associates National Study – Trendsspotting Blog | Millenials Conference
- Source: Huffington Post
- Source: McKinsey Study also posted by David Dalka
- Source: First Stats: United Nations Cyberschoolbus Document
Facebook Stat: MashableiPhone Stat: Apple
-
Source: Facebook
-
Source: TechCrunch
-
Source: comScore
-
Source: Attempting to relocate
-
Source: Jobvite Social Recruitment Survey Note: 80% will use social networks in their assessment. 95% will use LinkedIn in their assessment. When we revise the Video needs to be updated changing “their” to “a” primary tool need to see if we bump 80% to 95%
- Source: Inside Facebook Blog
- Source: Twitter & World Population Data
- Source: Attempting to relocate
-
Source: Metro Newspaper
-
Opinion, not a statistic
-
Source: TGDaily
-
Source: www.wikipedia.org - calculated based on # articles per language category; Colorado State University Wikipedia Accuracy Study; open debate and of course very biased information is also found on this Wikipedia Accuracy page. If I had to do it again I would have made this say as accurate rather than more – obviously some articles will be more accurate (think of the realtime update of Michael Jackson’s death, but also some will be less accurate.
- Source: China Internet Information Center, Technorati, Wikipedia
- Source: ClickZ Stats SES Magazine June 8 page 24-25 Chris Aarons, Andru Edwards, Xavier Lanier Turning Blogs and user-Generated Content Into Search Engine Results
- Opinion, not a statistic
- Calculated based of Wikipedia article data found at www.wikipedia.org
-
Source: TechCrunchThis says 4 weeks so I may have been a little off here as my source at Facebook had said 2 weeks adjusted above
-
Source: Marketing Vox and Nielsen BuzzMetrics SES Magazine June 8 page 24-25 Chris Aarons, Andru Edwards, Xavier Lanier Turning Blogs and user-Generated Content Into Search Engine Results
-
Opinion, not a statistic
-
Source: July 2009 Nielsen Global Online Consumer Survey (actually 90% now – updated above but video still shows 78%)
-
Source: “Marketing to the Social Web,” Larry Weber, Wiley Publishing 2007
-
Source: “Marketing to the Social Web,” Larry Weber, Wiley Publishing 2007
-
Source: Starcom USA-TiVo
-
Source: Nielsen
-
Source: Solutions Research Group
-
Source: Henry Blodget Silicon Alley Insider http://www.businessinsider.com/henry-blodget-kindle-sales-now-a-shocking-35-of-book-sales-when-kindle-version-available-2009-5 Just as the URL shows it’s not 35% of all books sales, but rather if a Kindle Version and a Book Version are available the buyer selects the Kindle version 35% of the time.
-
Source: Yahoo Finance
-
Opinion from Socialnomics
-
Source: Facebook
-
Music in video provided by Fatboy Slim “Right Here, Right Now” (1999) – if you like it buy the single
If anyone sees any inaccuracies or has better source information please let me know!
Also, if you haven’t seen Marta Kagan’s “What The F**K is Social Media” presentation, it’s amazing! Many of the same eye-popping facts are contained in it – as well as many more. Plus, it does a much better job of providing insight than my video which is designed to grab attention. Kagan’s presentation informs, check it out!
To watch a video with millions of YouTube views and deservedly so, please check out Karl Fisch and Scott McCleod’s Did You Know? It is filled with compelling stats that relate to globalization, education and technology – Love it!
Other trending posts: Pippa Middleton, 2012 Super Bowls Ads, Social Media Keynote Speaker
I’m 43 and quite honestly have been struggling to understand why I must struggle to change my habits and engage online. As an entrepreneur, the above statistics give me motivational urgency.
Thanks for compiling such Erik. I suppose a smart next move is to get your book:)
I checked the referenced UN article, and the link is incorrect. It should be http://www.un.org/cyberschoolbus/briefing/technology/tech.pdf
Thanks Mark! I owe you a beer! Thanks for pointing this out. A Correction has been made.
Cheers, equalman
Hey Folks
Speaking of Social Networking and platforms, check out the Hottest and Fastest growing website on the internet just for Baby Boomers and Up. Go To: http://www.OverFiftyIsNifty.com and see for yourself. If you’ve used Facebook, MySpace, or YouTube then, you’re gonna love this site.
Very interesting post. Have already shared on Facebook and Twitter.
“Social Media has overtaken porn as the #1 activity on the Web”
You could have stopped right there. You know if it’s bigger than porn on the web then it’s pretty big.
This is a very interesting blog post.
Thanks for posting!
Hey, I found your social media revolution video on youtube, its breathtaking! I have embedded on the front page of our site, http://www.openpathways.org.uk
We are a social enterprise based in Camden, helping charities to make use of social media and IT.
I have to give it to you, you have not only done an EXCELLENT job setting up this page, but the video blew me away!!! what did use to make it? (if you don’t mind me asking that is)
Much respect!
Nik: Glad you like it! Adobe After Effects is the program. Cheers to you! – @equalman
Why not devolve bricks & mortar institutionalized education except for halth club like social and physical interaction to promote healthful, activities and team sports with social interaction?
I realize the teacher’s unions would impede this, but think of the cost savings and advancements in lifestyle and personal well being.
With out Social Media today I don’t know how any business plans to stay in business. Some business’s still have to no web site.
I use social media in my temp labor agency and it works better then any of media I have used. I am just starting to try new thing on the net.
big. brother.
I am new to the on-line business and your video had a lot to do with it…
http://www.videoproductionservicesacramento.info
This information is awesome
Заметка интересная. Как подписаться на rss?
You have some of the best info that is right to use with customers who don’t want to face the facts…
Social media will have a greater impact in all that we do unlike anything we have witnessed in generations. Unfortunately, the majority of people are not comfortable with change and may find this a daunting prospect. Thankfully there are still many who embrace change and most importantly this “positive” change, which is the significant transformation that social media is establishing. Of course this will not be appreciated by those who have something to hide or for those who were hoping to market an inferior product or service. I love it!
Great video…With proper credit for your efforts, is this video available for companies to show to their employees? Don’t want to step on any copyright/licensing rights…
This showcases the main downside of technology in the hands of the masses (obviously there are tons of upsides). Simply, put any old unsubstantiated rubbish to good music, make it look authoritative with some fast moving graphics, and pass yourself off as an expert.
To publish false statistics as ‘facts’ in order to keep the presentation sleek is astounding. Tell me, does your book follow the same ‘image over substance’ rule?
Hi,
For your French speaking audience I translated your facts for a presentation I recently did.
It can all be found over : http://www.nmediasolutions.com/blog/post/2010/03/29/Humain-coeur-strategies-Web.aspx
Thanks !
Patrick
Did you used a licensing arrangement for the Fatboy Slim song? If is not credited, don’t you need to have evidence before YouTube takes it down?
Carlos: There is a credit for the song at the end. While the video is playing you should also receive a pop-up on the bottom of the video that allows you to purchase the song. I hope this helps.
Completely awesome! I am using your info for an Advertising class and presented it for a Marketing class. The instructor, Art Petty, is also a semi-prominent marketing blogger. He was impressed and some classmates were completely blown away by your presentation.
Will: This is so great to hear!! I’m glad that it’s helpful. Cheers, equalman
Love it! Very useful info.
Thanks a lot
Great Job ! I agree with Colin Fast on the LinkedIn figures…
See ya
Thanks! Glad you found it helpful.
Best, Erik
Fantastic social media facts. Hard to believe it has grown so fast. The question is where does it go from here??
I see it going from growth to leveraging the information of your social graph. What did my friends buy/purchase? What did they like/not like? What real estate agent(s) do they use? etc. Very exciting times!
Fantastic list of facts!! Where will social media be in 5 years??
Glad to hear that Twitter is treating you well David. Thanks for the kind words about the videos, blog, etc.!
Erik,
Amazing stats and appreciate you sharing these with everyone. I’m researching updated stats and this came helpful. Points me in the right direction.
Ramit:
I’m glad you found it helpful! When you have some newer stats compiled I’d love to see them. Cheers!
Great Video, its all true, people don’t realize how big social media is, and I am a believer because it has change my life for ever.
that is why I am actually teaching people what social media is and how is has change the way we see marketing online all together.
http://socialmediabootcamp.info
Thanks a lot for such a nice post about Social Media content is the key to success of your blog.Social Media is one of the best way to keep touch other, Be Social in 2010!
Love it Gurpreet! Be Social!!
It looks like you don’t just abuse facts and statistics. You have also taken advantage of Wikipedia to promote yourself (hardly a more reliable source than Britannica if you can manipulate it).
It seems that the number and content of favorable reviews on Amazon has more to do with social media than actual opinions, perhaps demonstrating the importance of social media, or maybe the unreliability of it.
Mark:
Thanks for taking the time to comment. As for abusing facts/statistics – if you have specifics from the sources listed please let me know [I pulled from several as you readily see in the reference list]. There’s no question that I may have made an error along the way, or there could be an error in the source data, hence if you see one let me know and it will make it better for all.
As for ratings and reviews – social media is what gets me excited about this. For the most part to date the reviews have been fairly opaque (could have been the hotel company giving a great rating for their own hotel), but now with new tools and increased transparency you can see/know if that person is in your trusted network. Hence you still have access to general ratings, but alongside of that you will see reviews from 5-7 from your friends and peers which one most likely will “weight” a bit more.
Thanks again for stopping by and taking the time to contribute!
Я не говорю по-русский “, я использую Google Translate, но спасибо за остановки путем!
Quite an interesting study. It’s a nice compilation, but should be taken with a healthy dose of cynicism (like just about anything). Things are definitely trending to online media, but we should be careful of the online stats, as they are reported by online agencies.
You wouldn’t want to be the “Dewey Defeats Truman” headline after only interviewing people with phones. One of the biggest sources of error in statistical sampling is not getting a “representative” population, i.e., surveying all members of one political party will give you different polling results than asking the same questions to members of another.
Marketing firms often use dubious data to sell “leads” to clients. Take, for example, the claims of a well-known real estate website, to real estate professionals, “we get over 6 million unique hits per month…blah blah blah”. Now, what you really need to do is interpolate how many are actually looking to buy or sell vs. just looking at the market (especially when the market is “spiking” in either direction) and then gauge the number of practicing professionals in a given area to determine whether or not these “hits” actually mean anything. Another firm sells “qualified leads.” What it means by “qualified” is “they filled out forms on our website with contact info, but we have no idea if any of this is true, we don’t even verify that the email address is even valid”.
Per #2. You also have to count who admits to using any particular type of activity.
The online students may or may not be exclusively online.
Also, as Wiki is run by a younger demographic, it’s tone/bias is notably to the left on many social issues.
James:
Great comment – you always want to look at both sides of a discourse, or to put it in more blunt/sophomoric terms, make certain you aren’t doing a “Kool-Aide Keg Stand.”
Thanks for contributing.
Wow, so many of these stats are misleading, and the backup is missing for so many more. 33% of 18-34 have never used DVR or TIVO? Is that a joke? Where did you find that?
Benjamin:
Thanks for stopping by. All the the statistics in the video are listed on the bottom of this page. I pulled from various sources. If you see anything in the sources that I used that is incorrect please let me know as that will be helpful for everyone!
Best, Erik
Hi Erik,
Great to see your openess to feedback and improvement!
I’ll echo the thoughts of others regarding some erroneous statistics. I own a recruiting company and I haven’t done any studies but based on our clients as a sample I’d say a relatively low percentage of companies use LinkedIn as a recruitment tool, let alone a primary one, let alone their primary one (I see you noted the change above). I’m sure that will be shifting, LinkedIn has recently added their collaborative recruitment tool and some new services to help make the process easier.
Keep up the good work and I look forward to seeing the updated version.
Michael
Michael:
Thanks for the insight on recruiting! I’ll let you know if I come across updated data. In the meantime, all the best!
Cheers, Erik
Tremendous article. Love how easy it was to navigate and read.
Bradley:
Thanks for the kind words – glad you found the article of help.
Best, Erik
That’s alot of numbers! I find number 2 hard to believe, but I have no solid data to back me up. HA Good info. Thanks
Erik! This video is awesome! I have shown it to many of my clients and it really opens their eyes to the power and importance of social media…I am trying to put together a video presentation of about my business and would like to know what program/software you used to create this video!! It looks amazing! Let me know!
CGreen:
Thanks for the kind words – I’m glad you liked the video and find it helpful! The program used is Adobe After Effects. I hope this helps!
Happy Holidays!
Impactful… and “fact full”… very well done!
Always great to get a thumbs up from a Ph.D! Thanks R. Edward Turner.
Jonathan:
Thanks for the kind words about the content – please have a Happy Holiday & Be Social in 2010!
Erik,
This video is fantastic… my global studies class did a project on what might next be the “social media revolution.” It’s truly someting that was interesting to learn! Again, the video was great, and myself and my friends learned a lot from it… I’ve showed it to everybody I know, and they all found it to be truly inspirational.
Good job!
Thanks Bobby B! Where do you teach?
Happy Holidays!
I don’t teach, I’m a student in the class.
Happy Holidays =]
Erik, I can’t find fact #22 anywhere in the video.
Alex:
Great point – I’m not sure why I threw that bonus data point in on the article, but I hope you found it relevant. I might have had it in the original script and then cut it out for time once the video was produced. Thanks for the comment and the support!!!
As a Boomer who has been in the video business for over 25 years and employs GenY-ers, I found this video and associated info very inspiring and have shared it with my staff. 2010 marketing in a difficult economy will require some smart thinking and Social Media will play a big part in being successful. Thank you.
Ransom:
Your positive comments about the video mean a ton coming from someone with so much video experience. I greatly appreciate the support. Happy Holidays!
Hi Erik!
Sat in on the Wiley Network webinar lastweek–great insight and amazing YouTube video! I have some quick source-related questions for you:
1) Do you, by any chance, have a URL link for where you found the UN Cyberschoolbus PDF report? (#4). Can’t find it anywhere and I need a date of publication, etc.
2) Same for the McKinsey study? (#3)
3) Same for the Technorati link that proves #18
4) Lastly, I just noticed the tiny little emoticon in the upper right hand corner of this page! lol What’s that all about?
Thanks so much,
Lauren Amarante
Excellent! I’m comfortable that the stats are directional and presented with insight–no need for hair-splitting. Look forward to reading your book.
One question: Who does the great music?
Cynthia:
Thanks for the kind words!
First video: Fat Boy Slim “Right Here Right Now”
Second Video ROI: “Tennessee” by Bob Sinclair
Your # 24:
26.6% blog about products and brand on slide 21 according to the social media research wave, not 34%.
Erica:
Thank you for reaching out with your question. This particular stat 34% blog about products or services is pulled from Slide 5 near the very bottom of the slide: http://www.slideshare.net/mickstravellin/universal-mccann-international-social-media-research-wave-3
I hope this helps!
Something for school books…
Thanks for it!
I was wondering if you could explain to me more about what Socialnomics is.
I have been using this video when teaching recently for Northwestern and the University of Illinois marketing and advertising students. While it’s a great video, already it is dated.
Not a fault of your own, but it is amazing that social media continues to grow, even after the eye popping stats.
Between your videos and David Armano’s social media visual depictions, you guys make my job so much easier….
Thank you!
Thanks for the kind words!! I was just speaking this week and saying even though the video is 2 months old things move so fast! Facebook already has over 300 million users. A new video will be coming out soon!
Erik,
I realize that I have been a harsh critic, but I remain a strong supporter of Social Media and its benefits. Understanding that a new video is in the works, I would sincerely be interested in assisting you with the fact checking this time out – it will make your message much more credible.
Your link to Marta Kagan’s “What The F**K is Social Media” is broken; it has an extra paren at the end
http://www.slideshare.net/mzkagan/what-the-fk-social-media)
Thanks for the heads up! This has been fixed.
Thanks for the heads up! This has been fixed.