The debate has raged for a year now. Old media is dead. New media owns the future. Advertising interrupts. Social media engages. Outbound marketing has lost its clout. Inbound marketing delivers greater efficiency. The fact is they work together. And most brands need both.
Let’s take Facebook as an example. Consider that the social network absorbs more of our online time than Google or YouTube. Its users number in the hundreds of millions — in the US alone 110 million people actively use the platform every month – easily rivaling the Superbowl and American Idol for reach.
The question, of course, is whether Facebook is a social media network or an advertising medium. Remember the quote from Ted McConnell, P & G’s head of interactive marketing and innovation, who just one year ago demanded to know, “What makes you think you can monetize real estate where somebody is breaking up with their (sic) girlfriend?”
It’s clear now, of course, that it there are plenty of ways. Victoria Secret introduces new products to its fans first, driving sales and word of mouth. McDonalds serves up local information and offers, and Splenda has created new products in significantly reduced time frames.
It helps, of course, to have a robust fan base. That can be achieved with the proven efficacy of Facebook’s enagagement ads — target your message, offer an invitation to be a fan to the right users and you can build a pretty significant fan base in very little time. You can also gather fans using any of your other advertising efforts, presuming your message initiates a conversation.
They key on the other hand is how these two tactics — advertising and conversation — work together. Attracting followers is easy. Keeping them, activating them, mobilizing them presents more of a task.
Social media advertising is a speedily expanding marketing activity.
The growing usage of social media indicates a potentially effective new platform for
advertisers. However, little academic...