This recent report from the Harvard Business Review by David Armano is a Senior VP at Edelman Digital, gives insite on expected social media trends for 2011.
It was a banner year for social media growth and adoption. We witnessed Facebook overtake Google in most weekly site traffic, while some surveys reported nearly 95% of companies using LinkedIn to help in recruiting efforts. The use of social media through mobile devices increased in the triple digits.
The past year also saw some brands go full throttle on Foursquare's game-like geo-location platform, attempting to reward mayors and creating custom badges for the network's power users.
In other areas, such as social media policy, I was less accurate. Conversations around the topic did begin to take place, but a global survey indicated that only 29 percent of companies even have a social media policy. That's not as high as I expected.
So what could we see happening in 2011? I'll take a stab at six trends again. In no particular order:
Social Functionality Makes Websites Fashionable Again. After several years of being told to "fish where the fish are," businesses realize that users expect social integration to existing Websites. Sites such as AMEX Open forum serve as a model for how networks such as Twitter can integrate with the Web experience. Websites will increasingly serve as "digital hubs" that integrate social activity from many platforms. For example, Apple's music social network, named Ping, recently integrated Twitter. While the integration has kinks, it demonstrates that even the most iconic of brands realizes that they do not exist in their own walled garden. They must integrate to be relevant in a socially connected world.
It's The Integration Economy, Stupid. From Ford, to Dell, to Starbucks, to Jet Blue, and a host of other companies who have pioneered early uses of social media for business, 2011 will be the year these companies take a serious look at integrating social media, not only regionally but globally. Don't be surprised if the same companies that piloted programs such as Ford's "Fiesta Movement" and Starbuck's Foursquare programs also become the first companies to take on the huge challenge of integrating social media into all facets of business from global marketing to crisis management and beyond.
Mobile Wars Create Ubiquitous Social Computing. As competition heats up in the form of cheaper, smarter phones and an assortment of tablets that may hit the market (a $35 Tablet in India?), technology consumers will come one step closer to being connected 24/7, and in more powerful ways than previously possible. Social networking will be on the go, out of the house, and out of the office. More competition, variety, power, and affordability in devices will fuel the increase of ubiquitous social computing.
Facebook Interrupts Location-Based Networking. If 2010 belonged to Foursquare and its playful, competitive and sometimes addicting ecosystem of badges, mayorships and specials, it's likely that Facebook will rain on Foursquare's parade in 2011. With tons of data and the architecture behind Facebook's response to Foursquare about to be rolled out globally, Facebook is well positioned to actually make location based services useful to business.
Average Participants Experience Social Media Schizophrenia. While social media schizophrenia (the overload of multiple social profiles) is nothing new to tech mavens, it will become something that more and more "average" users experience as they tweet, Facebook, G-mail, chat, Skype, BBM, SMS, and Tumble their way across the social web. While many mavens have adopted ways to manage and cope, average users may find themselves at the beginning of the curve in need of a 12-step social identity program. This may lead to increased demand from typical participants to have a more integrated and simplified social graph and an opportunity for platforms and companies alike to meet this demand.
Google Doesn't Beat Them, They Join Them. In 2010, Wired told us that Facebook could beat Google to win the net. But even at the end of 2010 after failed attempts to create their own networks such as Buzz, Google could prove that the best way to beat Facebook, Twitter, and the rest is to do what Google does best: Index them to pieces. Indeed, I've already noticed Google's algorithm has become smarter about Twitter data. I only have to type in a few words to locate old tweets. It's possible that by sticking to what Google does best, they may be able to take advantage of the social web by indexing any and all social data they can get their hands on. Expect the Googleplex to "strike back" in 2011, and perhaps demonstrate that they may figure out their role and relevancy on the social Web.
Where do you see social media going in 2011?
Twitter's business valuation has jumped to an amazing $3.7 billion valuation, with the closing its latest reported $200 million round of funding.
Any business owner/entrepreneur will realize the disconnect with traditional business valuations. What is even more amazing is that this is for a for a firm with just the beginning of a business model to generate income!
What they do have going for them is user traction and international brand recognition, with more than 175 million registered user accounts. 
In the past 12 months, Twitter users sent an astonishing 25 billion Tweets and more than 100 million new registered accounts were added.
The majority of their promotion and marketing efforts is also free, with many websites linking to their Twitter accounts, and many people adding their Twitter account to their business card. Think of the powerful impact of over 175 million people and businesses recommending your business to others!
As a business, you can use Twitter to quickly share information, gather market intelligence and insights, and build relationships with people who care about your company. Think of Twitter as a consise conversation.
According to All Things Digital, the lead investor in the round is Kleiner Perkins Caufield & Byers (KPCB), and KPCB beat out DST Global to get the Twitter deal. DST has recently been the lead investor in massive funding rounds for the likes of Facebook and Zynga.
Although one of Silicon Valley’s most prominent venture capital firms, the deal represents the first investment KPCB has made in Twitter. KPCB is also one of the lead investors in the Facebook-led sFund and previously launched the iFund for investing in iOS apps for the iPhone and iPad.
With the funding, Twitter has now raised an estimated $360 million. The company’s last major round came in September 2009, when it closed $100 million in funding at a valuation of around $1 billion.
At that time, Twitter was a quickly growing micro-blogging social networking site without much of a business model to speak of. Since then, the company has introduced a variety of revenue streams, most prominently its Promoted Tweets and Trends products.
Interesting to see how Twitter is hoping to scale up these adverting based products. On Twitter's page to inquire about advertising, where you select your Estimated Monthly Budget, the smallest budget category option starts at < $10,000 per month and go to $100,000+ per month. </P>
Twitter was founded in March 2006, and launched publicly in July 2006.
In the past 12 months, Twitter's team has grown from 130 people to more than 350 today.
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Social media is continually adding interesting new means of connecting and communicating with both friends and customers.
This hilarious tongue in cheek video looks at how social media, web and mobile tell the story of the Nativity.
Christmas story told through social media channels, including Facebook, Twitter, YouTube, Google, Wikipedia, Google Maps, GMail, Foursquare, Amazon...
And see below. The marketing impact is just as interesting as the video...
This video added to YouTube only 10 days ago has already:
- had an amazing 4,107,058 views!
- PS. This jumped to 5,152,665 in the 10 minutes it took to write this.
- 2,018 took the time to add their comments to this YouTube video!
- 74 more people added comments to this YouTube in the time it took to write this.
- 13,117 have clicked on the Facebook Like button to share this video with their personal contacts!
Times change, the feeling remains the same. It's great connecting!
Many business owners have told us that Facebook or LinkedIn was something that they had invited to. They looked once or twice, thought just for talking about your weekend and pet photos, so left.
Pretty powerful stuff, low upfront cost, direct customer feedback and with ongoing return.
What are your thoughts?
What could the power of tapping into social media do to help your business for 2011? Add your thoughts and comments below.
All the best for 2011 from the team at Synergy!
Kathy Woolverton (35)
Juan Lopez Valdez (34)
Kathy Woolverton (12)
