Social media: word of mouth at scale

Among some compelling metrics about Facebook’s contributions to Europe’s economies last year – led by $15.3 billion value and 230,000 jobs – is this description of social media by Facebook COO Sheryl Sandberg:

[…] She argued that we’re living in the midst of a revolution and said that social media has resulted in three key trends:

  1. the shift from anonymity to authentic identity,
  2. the shift from wisdom of the crowds to wisdom of the people, and
  3. the shift from being receivers of information to being broadcasters of information.

“This is a revolution that touches every aspect of our lives,” Sandberg said. Social media, she said, is word of mouth at scale.

Sandberg’s comments came in a closing keynote speech she gave at the Digital Life Design conference in Munich today.

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Facebook added $15.3B and 230k jobs to European economy in 2011
Facebook added $15.3 billion in value to the European economy in the past year, COO Sheryl Sandberg said at the Digital Life Design conference in Munich Tuesday.

Sandberg, in her closing keynote……

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