As we begin this class, the question I asked above is very relevent. As a student, this class is not going to give me any working benefit if social media is just a fad. However, if it is not a fad and continues to grow, then myself and my classmates will have a wealth of knowledge and, hopefully, experience in this new frontier of advertising and marketing.
As a marketing minor, I want to be able to market my future company in a way that is able to reach my potential customers. The newest way to do this is in social media marketing. This new means of marketing is under close watch by some to see if it will last. Why invest in a form of marketing that will not bring you any customers in the next 2,5,7 years? So the question is, will it last?
I believe that the answer is 'permanent.' What I mean by that is social media marketing is a fixed, established form of advertising. No one can deny that impact that the internet has had on world culture in the last fifteen years. People are usting the internet for everything. In terms of business, one of the ways people are using this vast resource is solving problems. We learned this lesson in the first chapter of Scott's book. With millions of people of using the internet every day to search for goods and services, that is where you need to engage them!! We have also learned according to Gillin, that in 2004, there were one million blogs on the internet. This study (by technorati) said that by 2008 that number had sky rocketed to 112 million!!! According to Gillin, "Some people still believe that social media is a fad, a bubble that will burst as suddenly and dramatically as the first Internet bubble did. They are very wrong."
It is clear (just from short material we have studied so far) that social media is here to stay. Yes, it is a very young business. However, the evidence shows that we are seeing a new and exciting generation of marketing and advertising that will continue to grow.
Additional Reading: http://whattoknow.org/19-social-media-marketing-is-not-a-fad/
I like your point about how we, as marketers, need to engage the people in the places they already are. People like things that are convenient, and since they are spending the majority of their time on the internet, as opposed to TVs and radios, why not go to them and make things more convenient?
ReplyDeleteYou mentioned that there were over 112 million blogs in 2008, and I'm sure that number has increased even more in the past three years. People enjoy expressing themselves and sharing their opinions, so we must take advantage of their willingness and desire to be a part of what we do. WOM has a way bigger impact on peoples' attitudes toward a product than an advertisement created by the company could ever have.
It is a young business, but it is developing and evolving at a rapid pace. I think once people have experienced this enhanced, interactive way of marketing, they can never go back to the old ways and have the same kind of satisfaction. I completely agree with you, Rob, that social media marketing is here to stay.
I agree with you that if social media was just a fad, why would WKU even offer a course on it, let alone establish a new minor? As a future business owner you will definitely use various social media outlets to build up your client list--WOM will be key too. Honestly before this class I never really considered it a fad. I assumed it was here to stay, but I guess some are skeptical of its impact. By the time they're willing to join the social media forces I'm sure it will have revolutionized even more!
ReplyDeleteI agree 100% with you that social media will grow more than us can imagine. Also change and evolve more then we will see in our life time. Companies that aren't participating in the advancements of social media are falling behind and making it harder every second to getting back on track. I think we as marketers have to be able to come up with different ways we can target customers through social media. It is our jobs to stay up-to-date and connected with the changes being made. We also have to buy in on different ways of reaching our customers even if we aren't sure it is a fab or not.
ReplyDelete112 million blogs is truly an amazing number! Sure there are some blogs that that are pointless and seemingly only express opinions, but there are some that promote excellent businesses and provide great information. For example, a local company in Bowling Green, Lifeguard Press, is virtually unknown to the general public, but to the blogging world it is a great source to discover great deals on Vera Bradley products (which have come in hand during X-Mas time for the females within my family). I also frequently visit a sports blog that provides great reads on Kentucky sports. The blogging world is endless with possibilities and is a must for businesses looking to grow their consumer base and the loyalty of their consumers.
ReplyDeleteI completely agree with your statements. If social media in general were just a fad there would not be the number of businesses investing the amount of money they currently invest in marketing on these sites. The amount being spent is only growing, there is a promising future and is something that needs to be taken seriously.
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