Just what is Social Media about?

What is the buzz about social media?
It is just another fad, or is it here to stay?

It has been around for quite some time – many businesses are using it as a new marketing tool; MNC, SME, even non-profit organizations like churches, museums, schools are implementing this to get closer to their audiences.
Social media is changing the way we communicate!As of 30 Aug ’09, this is the definition on Wikipedia.
Social media are media designed to be disseminated through social interaction, created using highly accessible and scalable publishing techniques. Social media supports the human need for social interaction with technology, transforming broadcast media monologues (one to many) into social media dialogues (many to many). It supports the democratization of knowledge and information, transforming people from content consumers into content producers. Businesses also refer to social media as user-generated content (UGC) or consumer-generated media (CGM).

As you probably know we are already moving on to Web 3.0 from Web 2.0, websites do not exist to merely provide information like how they worked in the 1990s, it has evolved to exist as cascaded communities, or ‘tribes’ as how Seth Godin would describe them, exchanging valuable information because people these days do not have enough time and attention to spare.

Social Media

Is not just Facebook – it’s a broad category which comprises of a variety of the things listed below….

Social Media is…

· Blogs
· Micro-Blog
· Social Networking
· Social Bookmarking
· Social News
· Photo/video Sharing
· Mash-Ups
· RSS
· Podcasts & webinars

Power of Social Media

Case Studies

Media plays an important role in our lives; It’s one of our important platforms of communication – we breathe it everyday, we rely on them for information.

More than just an aid to enhance interaction, social media has allowed us to, in this hectic lifestyle where we only have 10 seconds to decide if we will read the information we are given, speed up our absorption of news.

Interesting facts shared and compiled by Monty Metzger on Power of Social Media on Slideshare. In his last slide he mentions social media changes the way we think of media and marketing.

Social Media as a Marketing Tool

As mentioned earlier, the powers of social media are endless. Businesses can efficiently use social media to

  • Connect with customers
  • Strengthen customer relationships
  • Understand customer needs
However, with usage of discussion forums where users may hide with an anonymous identity, unsatisfied customers may post criticism, which may or may not be biased, which may damage the reputation of the company.

Taking action to this, a company should always update themselves on the little pockets of conversations that speak about their company, to better fix the problem and seek improvement.

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