Myth #1 - Social Media is a passing fad and usage will decline
Whenever I hear a comment like this I start with stating the facts about where we are and then discuss where we are going. So, here’s where we are:
- Over 20% of all the time spent online is spent on Social Media
- Facebook is now approaching 900 million global users.
- One in every seven minutes spent online are spent on Facebook
- Twitter has over 100 million users - a 59% increase in the last year
- Google+ has been in existence for seven months. It now has over 90 million users and adding 625,000 each day. Estimates are for it to exceed 300 million users by the end of this year.
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For the past few years, social media has developed from being a topic written about only by some early adopters and specialist media to one recognized by just about anyone and covered by main stream media. Organizations in any industry and sector have started to recognize that this is not a short term fad but rather an issue that needs to be addressed for its implications on the business. Social media has gone mainstream.
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The shelves are full of books about new and potentially revolutionary changes in the web that are transforming the global marketplace. Welcome to a new world where top down hierarchies no longer apply or are constantly being undercut and where one-way “push” marketing communication is being replaced by the “pull” of mass collaboration and peer production.
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In less than ten years since the first wave hit with the introduction of online travel agencies, the travel industry is again undergoing radical changes. Online travel, in what ever form it was and still is defined, became the largest industry on the web in record time. Changes on a scale imagined only by few, have happened since then and there is not one segment of the travel industry that is not affected by that first shift to commerce transacted online.
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P.S. I wrote this article in 2006 and have not edited as it shows what I mean by vision - staying ahead of developments before they are mainstream