After reading pessimistic comments on the relevancy of Social Media I wrote this post. Background for this post was a discussion board with 2.5 main points:
1. Social Media Marketing is not a “real” profession.
2. Social Media is a fad.
2.5 Because Social Media is considered a fad, no one has earned the right to be considered an expert.
I wrote the following in contest.
1. SM is way too early in evolution for anyone in Social Media to be an expert. ALSO- every company leverages SM for different reasons. The good ones use SM to drive brand awareness and push product.
2. There’s an increasing age-gap in the corporate world. Younger employees are taking more and more responsibility in corporate america. These younger employees are “successors” to their senior. Also, today’s business landscape is shuffling. According to Harvard Business Review, more young MBA’s(35 and younger) prefer to start companies rather work for one. Pay attention to this paradigm shift. Gen Y is becoming more prominent in today’s business.
3. According to Forrester Research, Digital Marketing is a $34B industry today. Out of $34B, Social Media makes up 1.4B and will grow to $2B by 2012. That’s $600,000,000.00 in new economic revenues. Do you think businesses are not going to fight for that $.6B spend?
Allow me to close by urging you stay on top of this trend. Also, keep your eye on Generation Y. These folks crave autonomy from Corporate America, are free-thinking and extremely entrepreneurial. A few suggestions-subscribe to the RSS feed of Mashable and Techcrunch. The Wall St Journal also does a good job of reporting on emerging trends and companies.