What’s with this trend? Why is it that Social Media has so quickly overtaken traditional advertising?
Very simply – people don’t trust companies. They never really did in large majority. Studies say that only about 14% of us trust them, period. It’s probably been this way for quite some time but prior to social media – we didn’t have much choice but to take traditional paths.
On the flip side, why is it that companies like Angie’s List are (and has been for years) so successful? Simple. We trust other people. If enough individuals have had success with Brand X and talk about it to others, it makes us much more willing to give that company a shot.
Anyone can talk the talk. Companies prior to social media marketing had to rely on their marketing teams to create clever jingles, targeting huge audiences, hiring the latest greatest celebrity, etc… Obviously these marketing strategies have their place. But keep in mind – it’s talk. Even talk from celebrities doesn’t generate trust.
What’s the point, Amber? My point is this: You want you sales to soar? You want to develop brand loyalty? You want both of these to continue? Then you need to hop on the social media bandwagon. It’s what the public has been asking for all along and we finally have it!
“You can’t buy attention anymore. Having a huge budget doesn’t mean anything in social media…The old media paradigm was PAY to play. Now you get back what you authentically put in. You’ve got to be willing to PLAY to play.” – Alex Bogusky, Co-Chairman of Crispin Porter + Bogusky
It’s the way it always should have been and “that’s the way, uh hu uh hu, I like it!”