Whilst Tim’s presentation was highly informative, this blog post provides you with the edited highlights.
[2012 update – Tim’s presentation is no longer available so I’ve removed the link to it that used to be in this post]
He began the session with some statistics that some might find startling…
- in May 2010 social networks received more UK internet traffic that search engines
- over $2.4b was spent on advertising on social networking sites in 2009 – up 17% on 2008 despite the recession
Tim went on to point out that though companies may choose to not engage with social media, brands and companies are being discussed in multi-directional conversations between anybody. At any time, and anywhere, and not necessarily involving people from the brand or the company. So there are compelling reasons to get involved. Tim illustrated this with some more attention grabbing statistics:
- 96% of millenials (people born since around 1982) have joined a social network
- social media has overtaken pornography as the #1 activity on the web
- 1 out of 8 couples married in the USA met via social media
- 1billion iPod application downloads in 9 months
- 80% of companies use social media for recruitment
- 50% of mobile internet traffic in the UK is for facebook
- 25% of search results for the worlds top-20 largest brands are links to user generated content
This and many other compelling factoids were sourced from http://socialnomics.net/
For more social media statistics and a deeper dive into the business case for social media, check out Tim’s presentation here.