By Erik Qualman
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As you might expect, I enjoy being social. Hence, I listen to everyone’s input and then adjust items to make them better. One of these items has been the exact definition of Socialnomics. Thanks to everyone’s input I have recently tightened the definition:
Socialnomics: The value created and shared via social media and its efficient influence on outcomes [economic, political, relational, etc.].
Simply put: Word of Mouth on Digital Steroids!
A subset of this is that in the future we will no longer search for things, rather they will find us via social media. One of the major components of Socialnomics is social commerce; transactions (outcomes) that occur via social media.