Social media now part of everyday life : Sheryl Sanberg, Facebook COO

The recent World Economic Forum annual meeting in Davos, co-chaired by Sheryl Sandberg, chief operation officer of Facebook, focused on the “great transformation” reshaping communities, companies and countries.

A key element to the “great transformation,” per Sandberg, is how social media is changing everything everything from political protest to buying baby shoes.

In an interview with The Nation, Sandberg responded to what is the most interesting transformation that we’re experiencing or about to experience?

2011 proved to be a year when social media and services like Facebook became part of the fabric of everyday life around the world. People have embraced social media in both simple ways – from the chance reunions to staying in touch with family to sharing photos of new children – and the more profound – from New Zealanders and Japanese supporting the rebuilding after devastating earthquakes, to Iceland’s drafting of a new constitution online with citizens.

Social networks and social media are transforming communities and companies in a couple ways.

First, we are seeing a huge shift in the way technology is powering us as human beings. Today on the Internet, people can know who you are if you want them to. You are yourself online for the first time. This has impacted the way we share and connect as people and communities.

Second, the way we are harnessing collective wisdom is different. The internet promised to change everything about our lives, and it did change a lot – especially access to information. Being able to search the Internet through search engines moved us leaps forward, as links and rankings by crowds of people helped everyone navigate the web and access information in a different way.

But rather than relying on the wisdom of the crowds, we’re now relying the wisdom of friends.

When I am in Europe for the World Economic Forum, I might find it interesting to know what the most popular restaurant is in Munich or Davos, but I am more likely to go to the restaurant my colleagues and friends recommend. This is a different way of finding information, and one that represents huge opportunities for us to get to know each other as people, as well as opportunities for businesses and developers. And we are already seeing businesses leverage this transformation to connect with their audiences and customers. We are also seeing small businesses use social media to grow, even in tough economic times.

Attorneys and services professionals ought not to dismiss the ‘wisdom of friends’ as limited to consumer products. Sophisticated consumers of legal services turn to people they trust for names of lawyers and professionals. For anyone under age 40, their friendships are built online.

If you don’t have an internet identity online, built through social media and social networks, you’re at a disadvantage in developing new business as compared to attorneys who do.

Critical for attorneys to understand is the gift they’ve been presented in the form of social media. Per Sandberg:

…[S]ocial technologies and authentic identity are giving everyone, no matter who they are, a powerful individual voice. It used to be that in order to have that kind of voice – to reach more than the people you could see in a day – you had to be rich, famous, powerful, own a newspaper, or be a politician or celebrity. Last year we saw that in Egypt, Wael Ghonim used his voice to help a country. Old rules no longer apply. Today new are rules being written, sometimes by people who know they are writing them but more often by people who don’t.

It used to be large law firms with significant marketing and public relations budgets had an edge over smaller law firms. It used to be that you needed to be one of the anointed ones to have your articles published in leading periodicals or be given the opportunity to speak at leading conferences. It used to be you had to pay Martindale-Hubbell to get listed in a legal directory.

No more. Each of you has the opportunity to blog on niche areas of the law, strategically network via LinkedIn, nurture personal relationships with friends and close business associates on Facebook. Each of you has the the opportunity to accelerate the speed at which you network, build relationships, and enhance your word of mouth reputation. Each of you has the opportunity to develop relationships with ‘friends’ who trust you so you’ll be the one invited to speak and be blessed with word of mouth referrals.

Business of all sizes, including attorneys, are connecting with people and developing new business via social media and social networking which has now become part of everyday life.