Measuring the Worth of Social Media
April 26, 2013
When social media first started any companies thought it was a useless tool meant only for the younger crowd. Why would an established company want to promote itself through a tool meant for kids? According to LucidChart in the article, “Is Social Media Worthless?” the company polled 3,000 users on their Web behavior and found that social media played a small role in driving Web traffic. Social media experts are trying to justify the place it plays in a company’s business, but if it loses money it does not have any value.
“Social media denizens are, by and large, in it for themselves. They’ll promote your brand if it means their share of a cool $20 million, or a free pair of glasses, or whatever else you’re offering them. Everyone likes to pat themselves on the back and feel like they’re serving their fellow man, whether that’s retweeting a funny video or donating money to a favorite charity. But if your fans aren’t buying your product, or influencing others to buy your product, they’re not really fans at all. And all the brand awareness in the world isn’t going to change that.”
Harsh words for social media if the source is accurate. It echoes the era of MySpace filled with teenage girls and boys touting their social lives and interests. Social media has its place, but it needs to be reexamined in generating revenue for real life companies.
Whitney Grace, April 26, 2013
Sponsored by ArnoldIT.com, developer of Beyond Search
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