The Effects of Social Media on Traditional Marketing and Advertising
The Effects of Social Media on Traditional Marketing and Advertising
Social media is not new. Facebook has been around since 2004, YouTube since 2005, and Twitter in 2006. What is new is how social media sites like Facebook, YouTube and Twitter are affecting the way businesses market their products and services. Never before in our history have consumers been able to communicate so effortlessly with each other and with the businesses they frequent. Never before have businesses been able to interact and react to customer feedback so quickly and efficiently. However, just because businesses have the ability to use social media for their marketing and advertising efforts, does not necessarily mean they should. This paper intends to answer the question of how social media has affected the way businesses market their products and services. This question is significant not only to the business, as it directly affects not only their profit, but also their brand, their image, and their reputation. It is also significant to consumers, because as a consumer you will be able to see how you have the power to shape a company’s products and services, as well as shape a company’s image and reputation. No longer can a company run an advertisement on television or radio promoting how ecologically friendly they are and assume people are just going to believe them. 10 years ago that might have worked. Now, consumers can research to see if that company is in fact ecologically friendly and if they are not, consumers can start a Facebook group, a Twitter profile, a YouTube channel, and endless other social media profiles in order to spread the word about the company’s false or misleading advertising. The reverse is also true. If a company creates an amazing quality product which solves a consumer’s need at a fair price, that company may have to do very little traditional advertising as consumers would spread the word about the products through their vast social networks.
Social media is not new. Facebook has been around since 2004, YouTube since 2005, and Twitter in 2006. What is new is how social media sites like Facebook, YouTube and Twitter are affecting the way businesses market their products and services. Never before in our history have consumers been able to communicate so effortlessly with each other and with the businesses they frequent. Never before have businesses been able to interact and react to customer feedback so quickly and efficiently. However, just because businesses have the ability to use social media for their marketing and advertising efforts, does not necessarily mean they should. This paper intends to answer the question of how social media has affected the way businesses market their products and services. This question is significant not only to the business, as it directly affects not only their profit, but also their brand, their image, and their reputation. It is also significant to consumers, because as a consumer you will be able to see how you have the power to shape a company’s products and services, as well as shape a company’s image and reputation. No longer can a company run an advertisement on television or radio promoting how ecologically friendly they are and assume people are just going to believe them. 10 years ago that might have worked. Now, consumers can research to see if that company is in fact ecologically friendly and if they are not, consumers can start a Facebook group, a Twitter profile, a YouTube channel, and endless other social media profiles in order to spread the word about the company’s false or misleading advertising. The reverse is also true. If a company creates an amazing quality product which solves a consumer’s need at a fair price, that company may have to do very little traditional advertising as consumers would spread the word about the products through their vast social networks.
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