We Are All Part of This Technology Revolution; Landlord and Social Media Expert Nick Tadd Asks Why Is There a Social Media Tsunami Coming?

Article excerpt

FIRSTLY, let's understand the term "social media". It's nothing new. In fact, I would argue that it is quite old! Moreover, I would also argue that everyone of you reading this is already an expert in it!

Reason: because social media = collecting and sharing information that leads to the co-creation of value.

You already do this via normal conversation and interaction in your daily life, and have done so since you uttered your first word as a child.

What is new is technology. And technology is changing the way in which we not only communicate, but the way we are. Technology is changing politics, business, vocabulary, finance, sociology, communication - it's defining the way we pay for stuff, the way we choose, the way we play. It's creating business.

Above all it's having a significant and increasing pathological effect on us all.

Technology is touching all of us, at all ages, and in multiple ways. Let's look at some figures: There are 900 million searches done on Google every day. More than 75% of these searches are turning up "socially-generated content". This means that typical websites are being overlooked. Only 10 years ago this did not exist; There are 6.7 billion people in the world and of them two billion are actively online (not just passively). By 2020 the figure is predicted to be more than five billion people actively online; digital products account for 7.2% of the GDP of this country (UK), ahead of construction, education and transport industries.

By 2015 it is estimate the figure will be 10%; and companies making the greatest use of the web for sales and marketing grew at an average of 4.1% annually.

Data shows that fully-networked enterprises are not only more likely to be market leaders or to be gaining market share, but also demonstrate management practices that lead to margins higher than those of companies using the web in limited ways.

So what we have here is akin to a revolution and we're all part of it - all of us. We are all using technology. We are all accelerating the effect of it.We are all responsible for what it is doing - and none of us should be frightened of it.

In fact, I would argue that we should all be embracing it. From a business perspective it can deliver better results at a lower cost. It can help companies gain traction, achieve smarter R&D as well as superb PR.

It will deliver "real-time" information to an enterprise, allowing that enterprise tomove with the sentiment of their market- in "real time". …