Social Media Economics is the wave of the present, and the ride of the future. Now more than ever, organizations are high jumping to leap ahead of the masses to develop an online marketing strategy. There’s a race taking place to enhance company brands, to set organizations apart, and to drown the competitive social media noise.

This week, I announce my promotion to Senior Vice President of Stonehill Social Media, a new entity owned, operated through Stonehill Law Firm. I leaked the announcement today on twitter; however, I wanted to explain this exciting launch here on my blog.

Social Media, Social Learning, and Social Marketing are terms that describe a new way businesses can use the web communicate their message.   Creating a social media strategy that works is a pivotal ingredient to developing an enticing presence on the open web.

Erik Qualman, author of Socialnomics created this video in July 2009.   It was followed by the video linked here in November of 2009. Both videos took the digital set by storm. I’ve seen these videos at conferences, and in my favorite blogs. These video clips share a message that opened the eyes of business leaders everywhere. The reach, relevance, and resonance of social media is profound, far reaching, and diverse.

Qualman refreshed the video May 5, 2010. This was brought to my attention by the ubiquitous Mashable who often breaks the technology stories as they are happening. In Qualman’s groundbreaking video, “socialnomics” he exclaims: social media is not a fad. He cites figures that are astounding. The millions of consumers of social media are not just on facebook, twitter, linkedin–they are everywhere in numbers that blow the lids off our collective imaginations.

He updated the statistics from the original video. These statistics are listed on his blog. This video is quickly becoming a classic, and will invariably be played over, and over during presentations, conferences, and meetings where social media is discussed. Watch this clip, and you’ll see why:

The reason I love this video is that it exemplifies that this thing we call digital marketing is not a fad. Businesses are harnessing the power of social media to strengthen their employer brand, and thus attract new talent. Creative companies are using it to sharpen their marketing message, broaden their audience, and expand their market share.

Typically, people don’t associate Law Firms and Social Media in the same mind frame. That is about to change. David Stonehill, JD is perhaps one of the most technologically advanced attorneys in the US. This year he hired me to work with him, his colleagues and clients. Together, we are launching Stonehill Social Strategy to help our clients bridge the gap between where they currently are, and where they want to be.

Recently, I developed a program for attorneys called, “Linkedin For Lawyers.” This workshop will show lawyers how to tap into linkedin, and derive maximum value in a conservative, and tasteful manner. Social Media is a tool when sharpened, and focused can bring forth tremendous results.

Digital marketing is not just about facebook, twitter, youtube, and linkedin. It encompasses the entire open web. Businesses have just scratched the surface of the realm of possibility. This much is certain, it is time to develop a strong business presence online. It isn’t easy to figure out which social platform is right for your business. Let us show you how.

I welcome your comments. In fact, here’s a penny for your thoughts.