Social media is gaining popularity among advertisers during the recession.† Businesses are looking for a more cost effective way to reach out to consumers during the recession.
As advertising dollars grow ever more scarce, companies have been forced to rethink how they reach consumers and have moved away from the traditional 30-second spot to the kinds of targeted, Internet-driven marketing campaigns that have been talked about for years.
The thinking among these media executives is that advances in technology is enabling them to build more detailed profiles of consumers — which can then either be sold as a commodity or employed in their own marketing campaigns.
Next-generation advertising will be driven by the tastes and habits of 14 to 24 year-old “millennials” whose lives center on social networks and Internet-enabled handsets.
A more effective way of reaching these young folks … is to use their social networks as influencers, rather than bombarding them with ads.