Book Review: Socialnomics: How Social Media Transforms the Way We Live and Do Business

12 11 2009

Socialnomics

I just finished reading Erik Qualman’s book, Socialnomics . As Eric says up front, the chapters in the book can be read in any order. What Eric does is provide some his insights on the impact of social media on business and backs that up with lots of concrete examples.

The majority of the book focuses on Business-to-Consumer (B2C) examples, but most of the key points are generally relevant and useful in the enterprise marketing space.

Some of the key ideas from Socialnomics:

  • Social media is happening with or without your company. If you do not participate, your customers will position and message your brand without you. Hint: not a good idea.
  • Companies with mediocre products and services will no longer be able to hide behind loud marketing messages. The community will be rating, tagging, and blogging about them. There is no place to hide.
  • The most trusted source of recommendations is from peers, friends and family.
  • We are rapidly entering the era where we no longer go looking for news and information. The news will find us.
  • Many companies are afraid of the negative feedback they will find on social media. (Just do a search on any [company name]-sucks.com.) The truth is that for any company that will truly listen, this is a great opportunity.
  • What happens in Vegas, stays on U-Tube. Funny and totally true.

If you are looking for a book to help you to structure your Social Media Marketing Plan, then I would recommend that you read Charlene Li’s excellent book Groundswell first.

Socialnomics, provides additional depth and detail and is a great compliment to Groundswell. It is also highly readable, with a key points summary at the end of each chapter. Read this book instead of watching the movie on your next cross-country flight.

I also highly recommend Erik Qualman’s blog.

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