- Hardcover: 288 pages
- Publisher: Wiley; 1 edition (August 24, 2009)
- Language: English
- ISBN-10: 0470477237
- ISBN-13: 978-0470477236
- Product Dimensions: 6.5 x 1 x 9.1 inches
- Shipping Weight: 1 pounds (View shipping rates and policies)
- Average Customer Review: 240 customer reviews
- Amazon Best Sellers Rank: #319,734 in Books (See Top 100 in Books)
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Socialnomics: How Social Media Transforms the Way We Live and Do Business Hardcover – August 24, 2009
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From the Inside Flap
Social media platforms like Facebook, YouTube, and Twitter are fundamentally changing the way businesses and consumers behave, connecting hundreds of millions of people to each other via instant communication. This is a massive socio-economic shift that is fundamentally changing the way consumers and companies communicate and interact with each other.
Welcome to the world of Socialnomics—where consumers and the societies they create online have a profound influence on our economy and the businesses that operate within it. Online word of mouth and the powerful influence of peer groups have already made many traditional marketing strategies obsolete. Today's best businesses and marketers are learning to profitably navigate this new landscape.
Brands can now be strengthened or destroyed by the use of social media. Advertising is less effective at influencing consumers than are the opinions of their peers, making direct-to-consumer marketing messages less valuable each day. But savvy companies are using online networking sites as massive focus groups and as an efficient means of communication with consumers. If social media isn't a part of your business strategy, you've already fallen behind the curve—and your competition.
In Socialnomics, Erik Qualman offers a fascinating look at the impact of social media on business to reveal what the future holds and how businesses can best take advantage of it. He explores how social media is changing the way businesses produce, market, and sell products; how it eliminates inefficient marketing tactics and middlemen; and how businesses are connecting directly with their customers through popular social media platforms.
Social media will continue to change the way businesses market products and how consumers and businesses interact with each other. If you're a marketer or business owner, the big question is whether you'll keep up with those changes. Socialnomics is an essential resource for anyone who wants to understand the implications of social media, and how to tap its power to increase sales, cut marketing costs, and communicate directly with consumers.
From the Back Cover
Praise for Socialnomics
"People with a passion for something can be infectious.It's obvious that Erik Qualman's passion is social media."
—Dan Heath, New York Times bestselling author of Made to Stick
"Qualman makes a powerful case that social media has forever changed theway we live and do business. Socialnomics helps make sense of it all."
—Dr. Stuart Levy, Professor, George Washington University
"In Socialnomics, Qualman brilliantly prescribes that the key to social mediasuccess is doing rather than deliberating. This is a must-read for anyone trying to leverage the social graph rather than be squashed by it."
—Steve Kaufer, CEO, TripAdvisor
"Social media isn't just for the next generation—it's for everygeneration. Whether you're an entrepreneur, a media professional,a college student, or a mom, social media will shape your future. Don't be overwhelmed by it; read Qualman's book instead."
—Jane Wooldridge, award-winning journalist, The Miami Herald
"The social media revolution has raised new and important questions and isnow interwoven into our lives. Whether you are an executive, a parent, or abasketball coach, Qualman's Socialnomics is a great guide for these issues."
—Tom Izzo, Head Basketball Coach, Michigan State University
"Social media is one of the most popular activities online today, offeringopportunities for both businesses and individuals to connect with a new audience. Qualman's book, Socialnomics, helps readers understand this behavior."
—Chris Maher, President, Hitwise
"Marketing is experiencing a profound paradigm shift. In the old paradigm,marketers controlled the conversation with consumers through commissionable media—television, radio, newspapers, and magazines. In the new paradigm, marketers risk being marginalized in the electronic dialogue now taking place in real time. Erik Qualman's Socialnomics offers valuable insights that will aid marketers in regaining some control in the perplexing world of modern communication."
—Dr. Eli Cox, Marketing Department Chair, McCombs School of Business
"Erik Qualman has a very bright future."
—Angelo Pizzo, award-winning writer and producer of Hoosiers and Rudy
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He gives a few examples of big business and brand building But he never gives numbers, ROI, or revenues generated.. His idea of success is for businesses to just give everything away for free; God forbid you should even ask for the email address in exchange because according to him your consumers are just going to flame you.
It's pretty dated as well because most of his references are from 2008 and 2010. Most frustrating of all is the total lack of economics, and lack of a strategy for an existing small business to profitably benefit from social media.
Skip this book and pick up something bye Jeff Walker or Perry Marshal and you'll be far better off.
The problems I have with this book stem from my perception that the author offers what seem like well pondered conclusions but reveals no data, no research and very little support evidence or hard quantitation so I was left to wonder if these "facts" are based on hard data or on the author's own biases and cheery assumptions.
He seems to talk about the 2008 U.S. presidential election a little too much throughout the book which is a bit annoying for business professionals looking for application and then late in the book Qualman delves into human resource management as related to social media and it just seems to go a bit overboard. Advice like, "[hire young talent and] simply get out of the way because the young talent may be vastly more talented in certain areas" may be accurate but it is so vague and general that it is worthless advice. One assumes he means that because young talent is much more in tune with social media that they will be able to perform better at job functions that have ties to social media, but again, no specifics, no details and no supporting evidence for this claim. It is at these moments in the book that it seems the author is a bit too much of a kool-aid drinking cheerleader simply repeating, "this changes everything." We've heard all the hype already. Now let's get down to specifics. His passion is clear but hard data is lacking.
That being said, the overriding message of this book is important for all business managers who need to understand how social media changes the game and why they cannot wait to embrace the future with social media touching just about every aspect of business and consumer behavior. Qualman makes the case as to why it isn't all going away anytime soon.
I recommend this book for those new to social media or those managers who still need to be convinced that it is the future direction of marketing. If you are already familiar with the space and are looking for advanced "how to" methods and detailed case studies then this is probably not the book for you.
--Review by the author of the e-book, "How to Build and Manage Your Brand (in sickness and in health)."
Much of the book deals with the now obvious trends in Social Media. Seeing what your friends like, or buy, on Facebook encourages you to buy the same. Or, if you are researching a new type of baby carriage... knowing what similar friends recommend is a good thing. More interestingly, Qualman points out that nothing remains private for ever on the Internet - we all live in Glass Houses - so be careful what you post - both companies and persons. He also indicates that Social Media is often supportive, or intertwined, with traditional marketing, as in the Saturday Night Live spoofs of Sarah Palin that went viral and also boosted traditional viewership of SNL.
So, as a magazine piece or journalistic read, this is a decent book. I am always looking for Social Media Marketing ideas for myself, my students, and my clients... and here there are good tidbits but no overarching conceptual framework. The author criticizes Google and pay-per-click advertising and points out how advertising on Facebook or LinkedIn may be more valuable, since it is based on profiles rather than keywords. Using Social Media for advertising or marketing should have been a major focus of a book marrying economics and social media, but unfortunately it is a relatively minor part of this work.
All in all, a good - but no great - read.