I already blogged about 5 Major Social Media Fails of 2010 and now it’s time to talk about some major successes. Like FAILS, there were many success stories and I have tried to narrow it down to 5 major ones in my opinion.
1) Show me the money
Groupon was a surprise for many, no one saw it coming. Google was willing to pay $6 Billion for a company that uses the power of collective buying to deliver local deals to you. Google has been trying to acheive what Groupon did in merely 2 years for quite a few years now. Groupon is a surprise success but it once again proves that if you have an idea that revolves around people and what they really want, you will not go wrong.
Groupon recently received a lot more funding and it seems like they are going to run the show for quite some time before going public. It is currently the most successful start-up ever… and they have every right to say “show me the money.”
2) 500 Million Friends
Facebook reached a milestone this year when it hit 500 Million users. That’s half a billion users, that’s quarter of the entire population that uses the internet. 26 year old Harvard drop out takes dorm room success story to silicon valley and turns it in to a $50 Billion company in six short years. Forget about the never ending recession, high unemployment and soaring foreclosures… it’s business as usual at Facebook.
If it keeps growing at current rate, Facebook will hit 1 Billion mark in early 2012. My prediction, maybe little far fetched is that it will reach 1 Billion users in 2011. You think Zuckerberg went to China to see the Berlin wall or something?
3) Those Never Ending Cables
WikiLeaks has proved that it is no longer possible for Government, Politicians and other high ranking people to do their dirty deeds and assume it will never come out. It will only take one whistle blower or disgruntled employee to bring down the entire house. WikiLeaks makes it easier than ever for people who only wished they could do something about injustice or political secrecy.
Call it citizen journalism or simply the new era of transparency, it is here to stay.
4) Where you at?
Location based services like Foursquare and Gowalla were hit hard by Facebook’s launch of places but to my surprise, they seem to be hanging on. Foursquare has created its own niche and is now the king. If it keeps innovating and listening to its loyal users, I think it will survive 2011 and won’t be eaten up by a big fish. Gowalla is no longer growing but it’s still there, trying to differentiate itself from Foursquare.
Surviving 2010 was a big success for all location based social media services because most of us wrongly predicted, including me, their demise once Facebook Places was unleashed.
5) Bye Bye Super Bowl
Instead of paying whopping $2.5 Million for a 30 second spot during the Super Bowl 2010, Pepsi decided that it would avoid the whole scene and focus on social media. Pepsi’s switch from traditional TV advertising during Super Bowl 2010 to social media is indeed a step in the right direction. Pepsi will always be remembered as one of the first major companies to ditch the Super Bowl for social media.
Pepsi Refresh Project was the result of Pepsi diverting ad dollars towards something that can achieve greater good and at the same time reach its ideal demographic of young and social media savvy people.
What do you think about my picks? Did I miss something?