Level2wo

Social Media and Marketing

Millions of us have them. You probably have one, or at least know of them. Maybe your kids have them. Actually, I’ll bet your kids have them. I’m talking about accounts/profiles on social networking sites like MySpace, Facebook, Friendster, and networking sites like them–LinkedIn anyone? I have to admit, I have accounts on all of these, but I don’t use them as often as I should. Truth is I am a little social networked (read overloaded). The only time I even go on them is when I receive an email from one of them informing me that one of my friends or connections has invited me to take some test (which I’m not going to do), or (and i’ve had this one a few times), someone has thrown something at me (I can’t remember if it was a ham, or an animal of some sort, but definitely not worth the few seconds it took me to sign in and see that I was virtually assaulted).

Like any popular and cool new fad, social networking sites have exploded and made tons of money. Advertising on them has been successful, to a point. Actually, I think they’ve returned a good deal in terms of revenue, but things seem to be slowing down. I’m not implying that they are not a Must Have on marketers list of To Dos, only that like any new medium, you eventually start heading towards the maturity phase, and with that things start to slow down.

Traffic in social networking sites may be a bit better than typical websites, such as ecommerce websites, news websites, dating websites, etc.–partially because they’re more like hangouts than information portals where you go in, get what you need, and get out. From a branding perspective, I’d bet it’s a pretty important tool to continue using. Really, it’s hard to try to ignore such sites, because the buzz is still in the air. As a grown up (and unfortunately I’ve been one for a while now, even though I still ‘feel’ young), I don’t enjoy social networking sites. But I can see the appeal, and I can see their worth. And, apparently, so do the marketers out there targeting these websites. How long these sites will last, who knows. But right now, if you’re a marketer, it probably pays to play the game.

Wikipedia’s definition of Social Media: “Social media is an umbrella term that defines the various activities that integrate technology, social interaction, and the construction of words, pictures, videos and audio. This interaction, and the manner in which information is presented, depends on the varied perspectives and “building” of shared meaning, as people share their stories, and understandings.”

If you’re reading this blog entry, guess what? You’re involved in social media. My ability to write, and hopefully influence my readers, is all part of the phenomenon that is social media. While traditional media may be a one-way street, i.e., I write an article for, say, the New York Times, and you, the good newspaper reader, consume what I’ve written, including my point of view (hopefully not included in real journalism), and you read it alongside my advertisements (hopefully I’m not selling anything immoral or unethical or that hurts small animals). Social media, however, turns the corporate world on its head, because now the consumers of products and services are able to influence other consumers of products and services–which, my friends, may not be exactly what corporate entities want happening. Why, you ask? Well, because now the control has been wrestled from the giants of industry and they no longer are the Goliath, because David is wielding far more influential weapons.

So what sites fall under social media (note, some of the below sites are for communication (MySpace, Facebook, etc.), and some are for collaboration or multimedia, or entertainment, etc)?

Facebook
Friendster
MySpace
Twitter
LinkedIn
Flickr
Zooomr
imeem
World of Warcraft
Miniclip

And the list goes on and on. Advertisers and marketers have been able to buy placements within the sites, as banner ads, content, and in games, even as virtual billboards advertising their wares in a less intrusive manner (if you play certain games and drive by a realistic 7-UP sign or Coke sign, it’s likely not just for the realism.

Because social media sites involve the user, and because the user is creating much of the content, social media sites are win-win for all involved; the user feels that they are part of the media process, and the site owners have built-in content generators for them, which obviously helps in many different ways.

Social media is not going away any time soon, and will likely just get more and more complex. What social media sites are you on? Let me know–please comment the sites you’re on, and where you see social media going in the next few years. Happy social media-ing!

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