Socialnomics integrates compelling information, statics, and case studies regarding
traditional methods and innovative trends stimulating the evolution of personable
interactions and business marketing communication within digital platforms. Replacing,
or at least revolutionizing, the construct of relationships reaches beyond television,
radio, and print to capture a larger international audience that encompasses a
world of mouth approach, according to
Qualman. He alludes to a question that brilliantly resonates throughout the
book: Are we using
social media correctly? Rather than companies leading consumers to product/services
and information, people are now engaging with one another, offering advice
through the use of social media. After all, “It’s a people-driven economy”
allowing the public to establish branding.
Public Opinions Matter
People are interested in others’ opinions. This statement is
the driving force behind Socialnomics. Status updates on mediums, including as
Twitter and Facebook, allow followers to review their own action or inactivity
to enhance their quality of life. Qualman describes a grocery store situation,
where a shopper encounters a 10-minute wait time in a checkout line. The
shopper explained a meal she was preparing and the key product was not in
stock. She
immediately received
free feedback for altering her recipe
via social media.
Status updates
regarding recent or upcoming trips, events, as well as other
braggadocian behavior, provide details
to those within a social network to remain abreast and even partake in such activities.
Whether purchasing a new product or participating in an elaborate excursion, people
want real data from real people, not just information fed to them by
stakeholders.
Social Media Influences on Politics
A summation of the 2008 presidential election explores the role
social media played in President Obama’s triumphant victory. Uncommonly
utilized for political campaigning,
Obama embraced social media, particularly YouTube and Twitter, to target wide-spread
audiences, including younger generations, minorities, and even international
interests groups. This approach incited a viral outbreak of public awareness of
his political stance, increased financial contributions, and amplified business
advertising opportunities, resulting in Obama capturing a network of millions
of followers (and prospective votes) and spiking voter turnout percentages leading
to his inauguration – an exceptional
defeat of John McCain and Hillary Clinton.
Company and Product Visibility
As Qualman delves into business advertising, aside from the
2008 election, he deciphers business practices of yesterday versus today and
the future. Modes of marketing to the
public are now being transformed to meet the demands of the public. Thirty
second commercials have now become 30-second snidbits in a 140-character world.
Social media represents a community of diversity in terms of people willing to broadcast
their likes and detainments as well as experiences with companies and
respective products/services. Qualman outlines various case studies of those
who significantly reduced product
research time and
purchase agony due to digital networking. In addition, companies evaluate
reviews to determine product functionality, inventory, and development opportunities
(including revamping products impact quality) that could have more
profitable results for their businesses. In a collaborative effort, people and companies
develop brands.
Advertisements are disseminated in various forms via social media – word of mouth, widgets, special
promotions, etc. – and now carry a label of
awareness
rather than advertising, which has proven effective for gaining exposure to
millions.
Updates
posted by users provide insight into offers promoted by companies and helps to
increase business and opportunities to broaden a company’s customer base. Even
print (newspapers,
magazines, and
books)
is embarking on the use of social media. Qualman also notifies readers that
these mediums have not completely disappear or renounced their traditional
formats, yet relishes in other distinct avenues for retaining and acquiring readership.
Old metrics make way for technological advancements. For example, when
downloading an e-book, readers can monitor what others within their social network
are reading and can serve as guidance for their next selection, increasing
publishers’
profit margin.
Social Media and Economic Growth
Employment practices, according to Qualman’s research, have
also been redefined. Businesses are engaging in social media, such as LinkedIn,
to
recruit
qualified candidates. In the past, the primary means for securing candidates
was to weed through resumes (and job applications) or reviewing Careerbuilder,
Hotjobs, Monster, and so on. Employers are now evaluating candidates through
their profiles, social networks, and even video to select new hires. This has
proven to not only be efficient for employers but as well for candidates.
Glassdoor and others alike consists of posting from current and former workers
voicing their opinions of company culture, benefits, and disadvantages of specified
workplaces. This method allows a more perfect fit between companies and
employees.
Analysis
All in all, Socialnomics depicts a changing society that
relies on collaboration, productivity, and a rapid exchange of small chunks of
information by means of social networking to influence company behavior and
motivate the actions of one another. “It’s a people-driven economy” and Qualman
expertly demonstrates this theory. His inclusion of statics, actual cases both
personal and business-related, and comparisons of the “old” versus “new”
methods of social communication permits readers to accept his credibility in
the field.
The information presented can pose useful to those with
little investment thus far in social media to readers requiring a refresher
crash in just why social media is essential in their everyday lives as well as
business relationships. Qualman inserts chapter summaries in easy to reference numbered
outlines for a quick overview of each selection, which again, correlates with
the idea of providing details in small
chunks to adhere to requirements of today’s society. I thoroughly enjoyed
the reading and found it an absolute must have in my library, and would highly
recommend Socialnomics: how social media transforms the way we live and do business
to college students, as well as the general public with an interest in digital
networking.
