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Socialnomics Trade Book Review

by Georgia Southern University on Mar 02, 2010

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Such media outlets that have featured Erik Qualman include: BusinessWeek, American Airlines Radio, AdvertisingAge, Media Life, eWeek, The Financial Times, Investor’s Business Daily, Direct Response Magazine, Search Engine Magazine and Direct Marketing News.His specialties include: Socialnomics, Social Media Optimization, Search Engine optimization, Search Engine Marketing, Online/Display, Email Marketing, International Domain Acquisition, Trademark and Copyright, Web site Strategy and Development, Brand Marketing & Strategy, Trade Marketing, Channel & Partner Marketing, Business Development, Messaging platform & strategic development and Press relations & public evangelism. All information taken from Erik Qualman’s LinkedIn profile. (www.linkedin.com/in/qualman)
The only thing wrong with searching on search engines is you need to know what you are looking for. Search engines are getting better at understanding our individual search habits, but generic searches like “shoes” will yield almost the same results for everyone else. Social media is the tool that makes sense of all the information available. Although there are review sites and recommendations available for thing you may enjoy, for example Amazon, there are more credible and trusted recommendation out there by people you actually know. It gives you more specific information and review by people you know, not an unknown source.
People want to access news with ease. Alerts can be created to bring specific information to a users attention on specific topics. Through other tools like tags, topics can be organized on other social media sites for easy access. These are often also published or linked to by known sources and therefore, repeated, duplicated and spread to other people who continue the reach of that information. In turn, this creates more traffic from other search engines to the source. It
Consumers engage in what Qualman calls braggadocian behavior. “As people continue to microblog and update their status via social media, it soon becomes a competition of who's doing the coolest thing” (p.43) This also creates your individual brand, which is no longer the marketer’s job. Now, more than ever, it is important for marketers to listen to what their customers are saying and respond to it. Consumer can solve problems to make it better for the next consumer. If they don’t listen, someone else will.
Social media can shine a mirror in your face and show you who you really are. It can prevent kids from acting stupid (sometimes) for fear of these parents seeing pictures from the party and also bring then together, according to Qualman. Qualman gave the scenario of a women who did not realize how she portrayed her frustration for her family. She thought she spoke positively about her kids, but when going back and reading her statuses, she found she was very negative and changed her behavior. Companies can also take a look and see what consumers are saying about their product. Effective companies not only monitor the conversations, but engage in them. They use the comments to better themselves by improving products and services.
Successful companies utilize already existing sites and ideas. ACME Travel created a Facebook application that would track where they had traveled. But, when registering for the application, ACME made is required to give out your e-mail. Craig Ulliot e-mailed ACME suggesting that this would drive people away, but they ignore his suggestion. Ulliot then created his own version called “Where I’ve been” which was extremely popular. So, TripAdvisor began behind the scene negotiations and almost settled with Ulliot for $3 million dollars. Instead, they invested the money in creating their own application called “Cities I’ve visited”. TripAdvisor leveraged Google maps so travelers could place pins on the digital map. This was smart because people were familiar with Google maps, Google maps is free, and no development was needed.
Social media can help track where an influenza outbreak is, contribute to charities, bring people together, promote a cause or point of view, better people and the world around us through communication.
I was surprised to read about companies using their money for legal resources, instead of just buying or compensating people for their ideas that bettered their company. Through the possibility of Facebook application platform, two programmers from India thought up the idea to play Scrabble against people from all over the globe. They asked Scrabble to use the trademark template and with no response they created Scrabulous which was hugely popular. Hasbro/Mattel eventually responded with a lawsuit and ended the game. Instead, they could have used the money created in legal fees to award the creators money and buy them out. But, they tried to create their own game, which was not as popular. They could have saved time, money and their image if they would have leveraged their customers, instead of going up against them. Original ideas are better compensated and thanked than fought and hated.
Waves of the future:online voting and eBook advertising. Voting participation would increase tremendously. In the 2008 Presidential election, some people tweeted about waiting in line for 90 minutes. Not only would it be more convenient it will save the taxpayer’s billions of dollars lost in average hourly wage, as well as, the amount is cost to conduct voting polls. Ebook advertising is another wave of the future with endless possibilities. Authors could us product-placement in their writing that is hyperlinked to that products website. Words and definitions could also be hyperlinked or provided by hovering over the word. This also opens up more money to publishers by reducing production costs of books, now they would just be downloaded.

Socialnomics Trade Book Review — Presentation Transcript

Socialnomics: How social media transforms the way we live and do businessBy: Erik Qualman
About the Author: Erik Qualman
The Beginning:
A Michigan native, Erik Qualman received his BA in Marketing at Michigan State and his MBA from the University of Texas at Austin. At MSU, he played basketball and was named Academic All-Big 10.
His Career:
Currently, Qualman is the Global Vice President of Online Marketing for EF Education, the world’s largest private educator.
Before joining EF Education, Qualman helped grow the online marketing and eBusiness functions of Cadillac & Pontiac (1994-1997), AT&T (1998-2000), Yahoo (2000-2003), EarthLink (2003-2005) and Travelzoo (2005-2008).
Qualman has been acknowledge in various and numerous media outlets. A published author and frequently requested speaker, Qualman specializes in Social Media and Internet Marketing and strategizing.
What Socialnomic taught me….What I learned
“One of the key maxims of this book is that wasting time on Facebook and social media actually makes you more productive” (Qualman, p. 4, 2009)
“We have shifted from a world where the information and news was held by a few and distributed to millions, to a world were the information is held by millions and distributed to a few (niche markets)” (Qualman, p.10, 2009)
“Executives and companies that want to excel need to be comfortable in knowing that not everything related to the brand will be owned by them, that their customer is beginning to take ownership. This is a good thing”
(Qualman, 2009, p. 102)
“Are social networks powerful enough to cause an adjustment in personal and corporate behavior on a macro-level? You bet you camera phone they are” (Qualman, 2009, p.34)
“For success as a company in the socialnomics world it is critical to:
- Leverage the success that is out there
- Leverage your loyal customers
- Don’t overinvest
- Take the time to decide where you will be “
(Qualman, 2009, p. 181)
“With social media the world is one gigantic glass house” (Qualman, 2009, p.204)
I was surprised to read about companies taking individuals to court and spending costly amounts of money to stop the synergy.
What I want to learn more about…
I want to learn more about the ideas of online voting
and
eBook advertising
R
E
CCONDMENDATIONS
I would recommend this book to anyone interested in learning about the importance and affects of social media.
Easy to read, very informative, and thought provoking!
The End
Presentation By:
Eryn Pond
Georgia Southern University
Trade Book Review
PRCA 3711
Contact me:
Epond1@georgiasouthern.edu
Twitter- erynbpond
Me (on the right) with my sister (on the left) in Hawaii 2007.

Socialnomics Trade Book Review

by Georgia Southern University on Mar 02, 2010

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Socialnomics Trade Book Review — Presentation Transcript