Social Media — Is it a Fad?

By Social Editors • on August 15, 2009

The Huffington Post — Erik Qualman has been doing his homework on the social media phenomenon that has been spreading faster than (insert your own tasteless swine flu metaphor here).

His new book called Socialnomics comes out later this month. I think you’ll be hearing a lot about it in the days to come because there is no hotter topic in business today than how to leverage social media to build communities around brands and then leverage them into revenue.

The thinking is that as we build out our online personas — migrate toward certain online groups centered around our interests, our likes, dislikes, opinions and friends — products and services will find their way to us rather than we having to go out to find them. It changes the entire nature of advertising and how companies strive to create brand awareness and loyalty. When word of mouth and peer endorsements become the primary means by which products are sold, making a better product and having a sterling reputation becomes the absolute king of all currencies.

Business school teaches us that good will is hard to quantify but having it in spades among your target market has never been more important.

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