A realization that the only way to further increase success on the web (engagement, response and conversion) is to give the target audience (community) some say in the exchange.
Social Media evolved from early ratings sites for software, amazon.com suggestions, etc.
Web 1.0 vs. Web 2.0 PASSIVE SELFISH PARANOID SIMPLE CONTROLLING DULL!! INTERACTIVE GENEROUS PARTICIPATORY ADVANCED FEATURES BECOMING A MEMBER (peer-to-peer) ENGAGING! Web 2.0 is about… Web 1.0 was about… broadband dialup bandwidth costs hardware costs APIs screen scraping web applications web forms sharing owning tags taxonomy RSS portals blogs home pages peer to peer client-server communities companies writing reading
Interactive now accounts for >30% of media time (1)
TV = 35%, Radio = 12%, Print = 9%
Gen Y (<26): 12 hours per week (vs. 10 hrs TV) (2)
Gen X (27-40): 9 hours per week
“ Communitainment” is new model for internet usage
Community, Education and Entertainment
Over 10 years, >50% of Internet usage will be “Communitainment”
Social Media is the platform for communitainment
User Generated Content is the medium
Blogs / Discussions
Credit Suisse 2006
MultiChannel News 2006
Trust in Peers Trumps All Other Sources Online Consumers Turn to Friends or Acquaintances for Information 83% 49% 37% 30% 60% 52% 50% 63% 69% 75% Source: Forrester’s NACTAS Q3 2006 Media & Marketing Online Survey. * Opinion of friend or acquaintance using product or service Review in newspaper, in a magazine, or on TV Information on the manufacturer’s Web site A review by a known expert Consumer reviews on a retailer’s site Consumer reviews by users of a content site Information at online consumer opinion sites Online reviews by editors of content sites Information in chat rooms discussion boards An online review by a blogger