Thursday, December 2, 2010

The Power of Social Media

Social media is the fastest growing category on the web with traffic doubling over the last year. Facebook has over 500 million users, Twitter over 110 million, LinkedIn 60 million with more then half of them outside US, Youtube receives over 2 million viewers a day, Blogger has over 181 million blogs and I just started another one.

When compared to 2009 once can see the tremendous and fat growth in terms of penetration, participation, user-ability, business and so on.  With over 500 million users, if Facebook were a country, it would be the 3rd largest in the world. As average Facebook user spends 55 minutes daily and creates 90 pieces of content each month and is connected to 80 community pages, groups and events. Every second a new user joins LinkedIn,   which has executives from all Fortune 500 companies. The Ollie (Twitter bird) can boast of 50 million tweets in 2010. Every minute 24 hours of video is uploaded to Youtube with the most popular video - Justin Bieber, Baby Ft. Ludacris has had over 374, 403, 983 views.

The mobile internet has pushed it further. Together, social media and rapid response mobile messaging are blazing a trail in fast, real-time interaction leading to site conversion opportunities.

There is a visible shift in the power to define and control brands from corporations and institutions to individuals and communities.

Avinash Joshi

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