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Social Media; The New Word Of Mouth In A “Socialnomics” World

1070 words - 5 pages

Social Media; The New Word of Mouth in a “Socialnomics” World
If we were to think back to the first popular form of social media we can recall, whether it be Xanga, MySpace, etc., and contrasted its influence in our daily lives with that of the most recent social media networks like Facebook and Twitter, the difference we observe would be great. Recently, tweets and Facebook status updates are taking the place of printed and online reviews. It is comparable to television commercials and targeted advertising. It has become so sensationalized in nearly every part of our daily lives that we ordinary people have become unintentionally advertisers ourselves. While we promote ourselves through ...view middle of the document...

It is also used for informational purposes like educational tutorials and product reviews. Reviews in which ordinary people, not professionals, take the time to review a product they recently bought. People comment on these videos their gratitude or disproval. Thus, taking the paid advertisers out of the equation. The game just changed.
If news, in terms of advertising, is more vulnerable than ever; so goes with are brick and mortar businesses. These two walk in hand. Successful companies in social Media listen first and sell second. I believe it’s more beneficial for these businesses to get on board with this new way of advertisng. Everyone else has.
You might be thinking: “But what of traditional advertising”? Well I’m sorry to say traditional advertising has gone out of the window. It’s become diluted, altered, blended, shaken, stirred and then served to us on a high resolution screen. People don’t want to be told directly to buy things anymore. It’s overt and most consider it passé. No, instead they want it encrypted, whispered in their ear through a grapevine of their friends, co-workers, family, and acquaintances. 25% of search results for the world’s Top 20 Largest brands are links to user-generated content. Out of that 34% post opinions about the products they used. In a famous poll done by Yale Review it shows that 78% of users prefer peer review in contrast to 12% who trust advertisements. 25 of the 25 largest Newspapers are experiencing record declines in circulation. It is said we no longer search for news, the news finds us. That being said, couldn’t we say the same for products and reviews? It’s simple “Socialnomics”.
When you move off the social grid you lose the benefits that society would have otherwise provide you. In this case the line of communication, the interaction between consumer and provider. The line has been compromised. It’s like a little kid who chooses to be alone and make no effort to acknowledge his peers. While one or two might wander his way and initiate some form of communication, most of...

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