In keeping with our recent Lunch & Learn sessions about the use of social media in organizations, comes this timely article about the growing impact of these media on business operations.
“Print advertising is down, digital advertising is up and social media is emerging as the hottest hot spot in online marketing.”
“The stakes in this market are growing. U.S. advertisers will spend more than $2 billion on social media sites this year, up 24% from 2010, according to research firm eMarketer. It’s a small but fast-growing slice of total spending, compared with magazine and newspaper spending in the U.S. pegged at $38 billion and all forms of online advertising totaling $28 billion last year, according to Winterberry Group figures.”
The challenge lies in monitoring and responding to the various social media fora for customer feedback. This article discusses some new tools being developed and used for this purpose.