Here’s another in my series of mini blogs, inspired by some of my favourite business books/authors.



 social media

  • Social media is transforming the way we live and do business.
  • This is a massive socio-economic shift that is fundamentally changing the way consumers and companies communicate with each other.
  • Traditional marketing strategies are obsolete, and have been replaced by Socialnomics, where online communities influence companies and markets.
  • Brands can now be strengthened or destroyed by social media. Advertising is less effective. Companies and customers can now connect direct.
  • Word of mouth is now World of mouth – international instantly.
  • Social media provides a preventative role: what happens in Vegas now stays on YouTube.
  • On the downside, it facilitates braggadocian behaviour – self-centred, ‘it’s all about me’.
  • Another drawback is an erosion of confidence in meeting and communicating with people in person: ‘the next generation can’t speak.’
  • The old adage that you can only have two out of three of cheap, quick or quality isn’t true in social media – you can have all three because someone may already have done part of it for you.


Inspired by Socialnomics, Erik Qualman

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