By Mike Wise, VP IdeaStar Insurance Technologies

Social networks – Possibly the next frontier of affinity and association marketing… Some interesting stats:

  • MySpace – 1 billion visits/month (did not even exist 5 years ago)
  • Facebook – Traffic ranking among all websites increased from 60th to 7th from 09/06 to 09/07 (source: Alexa)
  • Linkedin – 700% growth in 2007, 11 million visits/mo as of 04/08
  • misc –
    • 91% of consumer use social network for information
    • Social networks are 21st Century word-of-mouth
    • Considered “most reliable source of information”
    • 67% of purchases influenced by word-of-mouth
    • Real people, real lives, high level of trust
    • Promotes exceptional ‘virality’

Source: Building Your Brand in the World of Social Networking
Webinar by American Marketing Association and Ramius Corp.

Did you get your copy of Groundswell yet? Some more stats from the book… I only wish it showed associated growth percentages for the last couple years – and sheer numbers of users. Might be an eye-opener.

Participation in groundswell activities (page 42)
Watch video from other users 29%
Read online forums and discussion groups 28%
Visit social networking sites 25%
Read customer ratings/reviews 25%
Read blogs 25%
Update/maintain a profile on a social networking site 20%
Add comments to someone’s page on an SN site 18%
Contribute to online forums or discussion groups 18%
Comment on someone else’s blog 14%
Post ratings/reviews of products and services 11%
Publish, maintain, or update a blog 11%
Use RSS 8%

Some recent pictures:

If any Boomers can identify this house, I’d be impressed. Hint: it’s from an after-school TV show in the late 60′s, very scary… located in Oradel, NJ.

Zach Wise, my son, playing volleyball..

Latest soccer favorite…

Copyright © 2008 Mike Wise
All rights reserved.