It was bound to happen sometime, and this appears to be the year. As a relatively new phenomenon, the realm of social media has kinda been like the old Wild West, a space dominated by self proclaimed ‘experts’, a lack of clearly defined structure and place in a marketing mix.
There has yet to be proven, consistent strategies, ways to measure tangible success, or even a consensus on which discipline is best suited to handle social media. Since it incorporates elements from all, traditional ad agencies, digital shops, PR firms and even the clients themselves all seem to be capable of handling social media campaigns.
However, as the amount of attention given to social media increases, along with budgets, the largest holding companies are sure to become major players. As one of the fastest growing segments, ad spending on social networking is expected to increase by 14% this year, according to eMarketer. Now that social media is becoming a part of everyone’s marketing plans, large agencies and PR Firms are beginning to either open up new divisions dedicated solely to social marketing or will simply acquire smaller boutique companies, which currently specialize in this area.
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