Here is a presentation done by Alex Wong titled “Social Media and Marketing: EVOLUTION or REVOLUTION ?“. In the presentation he states a couple of interesting facts and history regarding media marketing and he highlights the attention shift of consumers and how marketers are trying to keep up.
A couple of facts:
- Today, media is fragmented
- There are 13,500 radio stations (4,400 in 1960)
- There are 17,300 magazine titles (8,400 in 1960)
- There are 82.4 TV channels per home (5.7 in 1960)
Source: “Left Brain Marketing,” Forrester Research (April 2004); “The Vanishing Mass Market,” BusinessWeek (July 2004) Source: Darwin Day Conference
Currently on the internet:
- There’s millions of websites
- There’s billions of web pages
A radical change has occurred in advertising and marketing. Consumers are not listening anymore and interruptive marketing has seen it’s day. People want to interact to what they are seeing and hearing. People want the ability to control the online world they are in so brands need to start thinking about user created actions. Not user generated content any more. Unlike newspapers and TV where the advertisers are speaking at the consumers, the internet allows for more back and forth interaction.
Every day tasks has been shifted into the online world. You can buy tickets online, check for sport scores, search for information, search for new cd releases, read your friends blogs, get the latest updates, download songs, sport sites, music sites, blog sites, movie sites, gaming sites…Google search. The list can go on forever.
What is Social Media?
Social media is online content created by people using highly accessible and scalable publishing technologies. Social media is a shift in how people discover, read and share news, information and content; it supports the human need for social interaction with technology, transforming broadcast media monologues (one to many) into social media dialogues (many to many). Read the full descript here: http://en.wikipedia.org/wiki/Social_media