Every year at South by Southwest, we land an interview with The Pete Cashmore of Mashable. And each year he gives us a great interview. This year was no exception. I found his comments around the impact of social and how his company is investing in studying and reporting its impacts to be fascinating.
Is social media just another fly-by-night fad or is it a revolution in the way we live?
I am utterly amazed by that fact that so many people do not yet understand the incredible shift that is taking place in the world today. Time and time I again I hear that social media is just another fly by night fad. Well, I disagree. It’s not a fad; it’s a REVOLUTION. Here are some facts that prove my point.
Let’s start with a comparison. How many years did it take to reach 50 million users?
- Radio –> 38 years
- Television –> 13 years
- Internet –> 4 years
- Facebook –> 100 million users in 9 months
If Facebook were a country, it would be the 4th largest.
Let’s start with another fact. Today, baby boomers are the largest generation. Did you know…?
- In 2010 they will be surpassed by generation Y
Let’s shift gears and talk about television for a moment.
- Only 14% of consumers trust advertisements
- While 78% of consumers trust peer recommendations
- Only 18% of traditional TV campaigns generate positive ROI
- 90% of people with a DVR or TiVO fast forward through tv-ads
Word of Mouth is still the most effective sales tool. It’s changing the way we connect, the way we share, the way we work.
Update regarding sources:
2. YouTube Video: Social Media Revolution
3. Groundswell by Charlene Li
5. Many others….