With the recession looming over, everyone is banging on new/digital media to be THE medium to grow. And why not? With Google launching their Ad Planner (Pretty awesome tracker) and Trends for website, it’s almost like knowing which TV channel your demographic group was watching back in the 90′s.
And while most ppl believe that there will be an increase in the digital medium spending, does that equate to an increase in social media spending? Gavin has an interesting point here, where he mentions research being the key takeaway when using social media.
I have to admit, this post was largely influenced by Ashkan, who wrote Is Social Media Rampantly Monetizable?
It’s a good read, do have a look.
We have pretty good technology today that makes the web more social. From blogs to social networking sites, bookmarking tools to IMs, social media is becoming a dominant force.
Oh, but these tools don’t stop there, the possibilities are still increasing. Check out this article which might might not harm Google. Creating a social search is such a wonderful idea, all that content is gonna be gold. Users who compile everything of worth together is already being done, but putting them in one place with regards to a topic? Now, that’s a sweet deal.
But so what? I mean it’s great for end users, how about marketing and PR folks? I think e consultancy’s gotten it right. Right here Right now is an apt tag line for their future of digital marketing conference.
We have the technology for a more personalized message to reach out to consumers, but we’re missing 2 links.
1) The fear of failing. ROI is such a strain on behavioral change for using social media ( I don’t blame them) but w/o that behavioral change, social media bloggers like you and I are gonna be like the picture below:
Picked from Groundswell on ‘Help you boss understand social technology”
We’re going to be like the mimes in the glass box where nobody understands what we’re doing or saying till we get more people on the bandwagon with us!
2) The lack of understanding. Social media is not online media. I think of it as reaching out to your consumers face to face…Not mashing them with ads and groups down their throats…
So are we ready to monetize social media in Singapore? What’re your thoughts?