Comments on: 5 Ways Social Media Reminds Me of 1995

By: Bonnie

Bonnie — Wed, 20 May 2009 12:46:31 +0000

1995 was around the time the website for my business was created. I remember back then that the mentality was “Put up a website, thousands of people will come visit it and you’ll get lots of orders”

Today I see many companies jumping on the Social Media band wagon as a strategy to get “Buzz” and as a P.R. panacea.

Then & Now: Social Media (Internet) should be the hammer in your company’s toolbox; never a stand-alone strategy.

By: Gary Moneysmith

Gary Moneysmith — Mon, 18 May 2009 16:08:21 +0000

John: Thanks for the note. I think one of the few perks of getting older is perspective. If I line up a trend line from where things were in 1995 thru today, I at least have a hint where things are going tomorrow. G$

By: John Katila

John Katila — Mon, 18 May 2009 15:24:51 +0000

As one of the old-timers, I see a lot of similarities between then and now as some folks struggle with changes that threaten to throw their paradigm out of whack. For some, social media has been a logical next step in the progression of technology. Others (even some technology veterans) seem to struggle to connect the dots. If a behavior is something they don’t care to do personally (Facebook, Twitter, etc), they tend to dismiss it and underestimate the significance of the behavioral shift. It’s fascinating (and a little scary) to think about how my kids will be using technology on a daily basis 10 years from now.

By: Rena

Rena — Mon, 18 May 2009 14:31:29 +0000

You made me feel very old. I was one of those kids in the 90s who thought I knew everything and loved to play with all the new toys. I love twitter, and can’t imagine what will come next. I guess what your post is saying is embrace change.

By: Gary Moneysmith

Gary Moneysmith — Sat, 16 May 2009 17:59:56 +0000

Mike: Ah, yes…I agree. We take for granted that these “free” social media sites are utilities. YouTube loses $1.5 million/day which Google says is inconsequential, but *still* — that’s a lot of cabbage. Facebook is notorious for saying they’re not focused on monetization yet. So who knows about their long term viability. THAT SAID, I do believe that engaging in social media is more of a cultural change in organizations vs. learning a particular tool. So while Twitter may some day go bye-bye (be still my heart), the idea of online networking for customer service, market research, PR, etc. will persist. It’ll just be via the newest tool in the toybox.

By: Mike McBride

Mike McBride — Sat, 16 May 2009 17:51:12 +0000

Gary, I agree the price of entry for individuals is free, but the risk of any one social network tool going belly up and disappearing, a la the dot com days, is still out there. That’s where I see the similarities. As large as Twitter and Facebook are, they could still turn into a dot com bust 2.0

By: Gary Moneysmith

Gary Moneysmith — Sat, 16 May 2009 17:25:05 +0000

Mike: Thanks for the note. I think the big difference between the dot-com bubble days (daze?) and today’s social media craze is the cost of entry. In 1998, you needed to invest hundreds of thousands (if not millions) into custom building some dot-com enterprise. Today, most social media tools are “free” with the primary investment being time and sweat. In the “old days” it was all about creating something with the highest projected valuation and flipping it. Now, it’s about investing time into relationships over the long haul. While less exciting than then mid 1990’s, I’m a lot more comfortable with the direction things are going today.

Brian: Amen. But don’t hold your breath

By: Mike McBride

Mike McBride — Sat, 16 May 2009 16:22:04 +0000

I see a lot of the same similarities, especially when it comes to giving employees email/internet access. I also see similarities to the dot com bubble with some of the ROI questions which, of course, wound up with very much the opposite history as the original email/web questions. Social media could still go either way though as time goes on, it’s becoming more and more a part of people’s lives and communication the same way email did.

By: Brian Link

Brian Link — Sat, 16 May 2009 16:19:45 +0000

Dead on, Gary. All too true. Now if only the early adopters got to be filthy rich in a new Internet bubble, I’d be OK with it all.