2011 for Social Media

I found this nice interview of Jeremiah Owyang on NBC. I couldn’t embed it here in the blog and therefore it is available from my website. I will try to embed it here again later [Update: See the video below].

Because the interview is about 9 minutes, I will summarize the important points here –

1. Although the social media adoption among consumers is growing exponentially, the corporates are still very slow in matching the spending on social media strategies. The spending is going up in single digits.

2. Just because someone is young and fresh out of the college doesn’t make that person a good hire for social media strategist’s job! What matters is the business orientation and not the age.

3. There are several social media “experts” or “consultants” in the silicon valley. Many joined the bandwagon just because it is a booming area or they lost the jobs in the recession. There will be a possible backlash against these quacks.

4. Many social media consultants realize that they will be rendered useless once the social media permeates through all the organization. Therefore they have an incentive to not let that happen.

5. Many corporates still don’t get social media. They place their advertisements passively in the space rather than engaging the consumers with interactive form of advertising. Twitter is currently the most preferred platform for such conversational advertising.

6. Facebook valuation is difficult to believe when the growth in corporate social media spending is so small. However, Facebook is building itself as a platform where their revenue is coming from multiple sources such as advertising, games, etc.

Update:  I could find a way to embed this video in WordPress!

Vodpod videos no longer available.

2 thoughts on “2011 for Social Media

  1. Pingback: Tweets that mention 2011 for Social Media « Micro-Positioning -- Topsy.com

  2. Pingback: Social Business Forecast 2011 « Micro-Positioning

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