There were a number of other presentations on the topic, and the consensus is that social media was not going away. In fact, it will continue to grow.
In fact, since we presented, the number of subscribers in Canada grew to 11.6 million, and U.S, membership has ballooned to 54.3 million. Undoubtedly, Facebook is the market leader in the social networking space.
What is interesting, as we have flagged in our presentation (that that we are willing to share here (hey, we do have to make a living), is that there is a real need to understand the medium and how people relate to it. Facebook is fast becoming an internet “utility” – and one of the most successful “cloudware” applications. With the vast subscriber base, it is wonder how this all happened without a single advertisement.
We are also cognizant that there are numerous “gurus” professing to be “social media experts” (there are a number, we believe, are truly excellent) – the challenge first, we think, is to fully understand your audience before pursuing a social media strategy for your business.
In the presentation below, we explore the notion of Facebook’s success from the perspective of network theory, viral loop and memes. Further, we delve into the notion of personal branding from a performance theory perspective. Lastly, to ensure the “stickiness” of the application as it relates to user trust, we postulate that social media is a form of “digital oxytocin.” We welcome you to download this presentation.