The UK’s social media industry is like the goldmines of the USA 200 years ago. Basically, online is the future, for how long we don’t know, but it is about to arrive in a big wave and engulf all before it.
As with early American prospectors, the first one to find the first rich seam? and sell it is likely to become a very rich person indeed.
Although the web has been a prominent figure in our lives for over 15 years, we still haven’t answered the age old question, how does everyone make money from it? Obviously Google, Yahoo etc have been making money for donkeys as have website designers and such like, but how does the common agency use social media to make money.
Twitter, Stumble, WordPress, Friendfeed, Digg, Flickr are almost days away from being the new marketing tools for businesses and a playground for marketing and PR agencies. For as long as we can remember, PR and Marketing agencies have used newspapers, radio and television to position clients in the public eye. Editorial and adverts would be placed within these domains and the better the domain, the more horses would be brought to the water, so to speak. The internet has now overtaken newspapers and radio, second now only to TV as the most popular way to access news. The ‘apps’ above have the potential to be highly effective marketing tools to reach large target markets and individuals, linking them to a chosen blog, website or platform.
In short, there is currently a huge race on to find the best way to market companys’ in the online space and whoever can reach (or build) the biggest number of fans/followers/advocates/customers? through these apps and sell their services to clients first will be the modern day equivalent to the 19th century American prospectors.