Thursday, November 1, 2007

Social Media: It's here. Get used to it

"Social Media," one of the key components of the Web 2.0 revolution, is rapidly gaining strength and momentum, and exhibiting tremendous staying power. Not that it is a be-all/end-all, nor is it replacing the "traditional media," but nowadays if you don't have a strategy for incorporating social media into your marketing communications plan, you are missing a very large, very important and rapidly growing boat.

Just this week, Google's stock price raced through 700, due in large measure to anticipated demand for and use of new social networking applications. And last week, Microsoft handed over $240 million for a 1.6% stake in Facebook -- which works out to a perceived value of $15 billion (yes, that is BILLION with a "B") for Facebook.

The big boys are taking notice, and what they see is a very lucrative "the sky's the limit" market for the continuing surge of social media.

Need more proof? Take a look around at who is blogging these days. Around here at R&J, it's not only the old guy (me), but one of our up-and-coming superstar Account Coordinators, Crystal Decotiis. Take a look at Crystal's blog here.

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