I recently attended Splash Media’s Social Media Bootcamp. Splash Media principal and co-founder Paul Slack, a 20-year veteran of internet marketing, lead the presentation. It provided a great case for social media implementation for business and most memorably, a lot of statistics and relevant comparisons.
A few takeaways:
- Social Media = word-of-mouth marketing on steroids
- Social Media Marketing grew more in 2009 than in years before combined
- Official definition of Social Media Marketing: a new way of marketing in which companies engage in a two-way conversation with their target audience
- Social media strategies should involve defining, measuring and refining
Some cool comparisons about the roles of current media in relation to traditional media:
- Twitter –> telegram
- Facebook –> yearbook on steroids
- LinkedIn –> new rolodex
- YouTube –> television
- Blogs –> newspaper
- Google –> yellow pages and Encyclopedia Britannica
We watched a video called “Social Media in Plain English” after which Paul elaborated on some key points:
- Big Ice Cream = old school advertising
- What’s the catalyst? Conversation. (between brands and consumers as well as consumers and consumers)
- Traditional marketing was the middle man between brands and consumers; it’s been cut out!
Basically, there’s already conversations going on about your industry. Only 14% believe what brands say about themselves, while 80% believe what others say, even if they’re complete strangers.
It’s extremely vital to get involved in these conversations.