Looking around today we see that social media is becoming a larger part of our everyday life, we have seen how companies and individules are using the rapid propagation of information across the endless network of sites.
Corporates looking to cash in on the advertising vehicle have been snapping up the largest social media sites in recent months as we have seen Flickr and YouTube join the services in Yahoo & Google.
Individules are able to cash in on the growth as well, looking at the example of Gary Vaynerchuk and his hugely successful video blog site on wine http://tv.winelibrary.com/ we get to understand how one persons opinion and his straight talking has made him a minicelebrity in his own right, putting him in the same ranks oh Jimmy Wales of Wikipedia.
But why do these seemingly free information sites generate so much attention and how can advertisers actually calculate a return on the advertising pennies, simple marketing sales mechanics need to take new dimensions into accout when looking at where the sales revenues will come from. And with so many different types of social media channels how do you choose the write one, or the one that is hot property at the right time.
Looking at these different channels and linking them to example sites we get this type of image (credit actually goes to a French research company, unfortunately I lost the link to their report)
Or lets look at the one by Overdrive Interactive:
These new services and methods of communication provide all of us the ability to exploit the long tail of subjects and for people who once had a very limited scope for output they can now speak aloud about any subject they like to and enjoy and they will find others that that share their interests and who wish to have a voice as well.
Author: Gary George
Tags: Social Media