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Social media and its implications for viral marketing
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Social media presents potentially seductive opportunities for new forms of communication and commerce between marketers and consumers. As advertisers typically want to find some way to follow their target audiences, many new media opportunities are presented to advertisers. However, we are still social media pioneers. While the boom in social marketing appears persuasive with an estimated 70% of consumers visiting a social website for information, other research points out that 90% of WOM conversations still occur face to face or by phone, and only 7 percent occurs online. In contrast to traditional advertising media such as television, there are measurement and consumer behaviour modelling issues that will need to be addressed before marketers that measure and manage their media investments will be able to fully embrace the opportunities and navigate the risks presented by social media. Ultimately, advertisers will be forced beyond the “old- school” approaches to adopt many of the principles and techniques of relationship marketing in order to effectively use social media and likely the multiple niche co-creation of products and services.
Rohan Miller and Natalie Lammas - Personal Name
NONE
Makerting
English
2009
1-9
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