Social Media and Patrick Sweeney, President & CEO of dwinQ

Fellow Investor,

This week’s PowerTalk interview is with Patrick Sweeney, President and CEO of dwinQ, a social media product placement company.  He’s also the author of RFID for Dummies and a frequent speaker on technology’s impact on business and life.

Be it Facebook (FB), Instagram, LinkedIn (LNKD), Google+ (GOOG), Twitter, Pinterest or any other one you can name, social media is changing how we communicate and interact with family, friends, co-workers, products and brands. It’s making for some big business.  Research firm BIA/Kelsey forecasts U.S. social media ad revenues to reach $9.2 billion in 2016, up from $4.6 billion in 2012 - that’s a compound annual growth rate of 19.2%. Impressive but again that’s just in the U.S and social media is part of a global shift in behavior that is  a cornerstone of my Always On, Always Connected PowerTrend.

Patrick explains how dwinQ is showing companies like Disney, Cadbury, Vail Resorts, and Heineken how to leverage social media to build their brands and enhance their customers’ experiences.  He also shares his perspective on a number of companies being impacted by social media - companies like Costco (COST) and Amazon.com (AMZN) as well as Facebook (FB) and talks on the multiplier benefit associated with sponsored events and social media marketing. 

It’s a fascinating look at how social media and technology are combining to change the way companies do business.