78% of consumers trust peer recommendations.
14% of consumers trust advertising.
Social media is redefining how businesses market themselves.
Socialnomics posted a great ~2 minute video summing it all up:
And this one is better to show to your firm’s marketing decision-maker:
Socialnomics, you guys rock.
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{ 2 comments… read them below or add one }
Hi Scott, I’m a new reader from Singapore. It’s really interesting, I was just reading another blogpost somewhere about whether social media can be considered a revolution. And it seems like there’s this discussion online about whether the word ‘revolution’ has been too casually used.
But dont you think it is so? I dont think social media is a separate activity from our everyday lives, i think it already makes up part of our lifestyle. It is as normal to us as it is eating lunch! (= Internet created the first online revolution, and i think social media easily makes it the second.
Katherine
Thanks for your comment!
I agree that social media mirrors what we already do in real life. We talk with our family, friends and peers about things that matter to us. We warn them what to avoid and recommend to them what to consume. Now it is just happening on social media. It’s electronic word of mouth. And I do consider it revolutionary, because traditional marketing is now turned on its head. The consumer can now control the direction of the conversation around brands and that, in turn, will allow a more natural discussion – less skewed by promotion and more about attraction. Great stuff!
How are you involved in social media in Singapore?
Regards
Scott
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