Social Media Is Nothing More Than A New Popular Tool

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It all started from the birth of humanity. To communicate, we carved walls, created alphabets, and invented the printing press. Even till today, we are finding new ways to communicate, breaking geographical boundaries.

The trending topic of the year, and the last, has been “Social Media.” But what is so special about it?

As far as I know, it has helped Dell earn $6.5 million through one single platform, and brought Justin Bieber undeserved fame, well, at least in my opinion. But one thing they did right was to be where the consumers are – no longer in front of Television (TV) sets, but on online social platforms. Changing consumer habits has caused a shift in business focus from print, to radio, to TV, to Internet, and now, to digital media.

Companies, both big and small, in so many cities alike, are scrambling to take advantage of this new tool. However, we have also witnessed the reluctance to engage in social media because of the difficulty to measure its ROI. Just like TV, it will take time for everyone to adapt and see its potential.

When TV took over the radio, marketers realized that it was different. This platform thrived on visuals, and not on the message alone. Same for Social Media, we can’t use old techniques; we need to move with changing consumer behavior. Marie Jacobson from Sony Pictures described succinctly with this quote – “TV people have to think like net people.” To succeed with Social Media, companies need to speak directly with consumers, and think like them. They need to create content that fits into our multi-tasking lifestyle. They also need to create content that’s entertaining enough to steal complete attention of the audience from other distractions.

There’s also no discrimination of industries when it comes to the use of social media. From advertising, gaming to Broadway, Social Media has opened new doors for each of them in very different ways.

The gaming industry, for one, is jumping on the social media bandwagon. The reason? 90% of the market is made up of casual gamers. We are talking about the people who play games like Farmville, Restaurant City and Mafia Wars; games with huge appeal and monetization potential, thanks to their social element. Advertisements, product placements, virtual gifts, coins and shortcuts are examples of moneymaking opportunities. Even with lower margins, casual games are attractive because they take a shorter time to develop, and can be released earlier in Beta versions, with measurable response to different pricings. With less commitment, developers also have less to lose, and more to gain.

It seems like Social Media is the silver bullet for success in business and marketing. Is it really the answer for the future? If we look closely, it is nothing more than a mere tool at its popularity peak. Companies realize that peer recommendations are more trusted by consumers than ads, and that communities are a powerful influence to individuals. These communities are now gathering on Facebook, Twitter, Foursquare and MySpace, all ready to listen to brands that can provide value to them. Facebook alone offers more than 400 million active users for companies to target. We are merely following consumers. We go where they go, and Social Media would one day be the next TV, stolen of the limelight, but not completely obsolete.

Basically, the hype will start all over again, but only with a new tool that can help us communicate more effectively to larger audiences.

No matter the platform we are using to communicate, the priority is always in entertaining and value-adding the audience. Without creativity, the medium is worthless. Goodby Silverstein lives by their corporate philosophy, “Art Serving Capitalism” – using creativity to sell more. Indeed, without art, even a silver bullet would not be able to save you.

Hence, it is clear that consumers are the ones driving media. It could be Social Media today, and mobile tomorrow. Whatever they might be, they are merely tools, and it is up to companies to make creative use of them to draw eyeballs, and ultimately, sales.