Wednesday, November 16, 2011

What is Social Media and What is it not???


     The idea behind Social Media is far from groundbreaking. Nevertheless, there seems to be confusion among managers and academic researchers alike as to what exactly should be included under this term, and how Social Media differ from the seemingly-interchangeable related concepts of Web 2.0 and User Generated Content. It therefore makes sense to take a step back and provide insight regarding where Social Media come from and what they include.

     By 1979, a worldwide discussion system Usenet allowed Internet users to post public messages. Yet, the era of Social Media as we understand it today probably started about 20 years earlier, when ‘‘Open Diary,’’ an early social networking site that brought together online diary writers into one community. The term ‘‘weblog’’ was first used at the same time, and truncated as ‘‘blog’’ a year later when one blogger jokingly transformed the noun ‘‘weblog’’ into the sentence ‘‘we blog.’’ The growing availability of high-speed Internet access further added to the popularity of the concept, leading to the creation of social networking sites such as MySpace in 2003 and Facebook in 2004. This, in turn, coined the term ‘‘Social Media’’ and contributed to the prominence it has today.

     Although this may give some idea about what is meant by Social Media, a formal definition of the term first requires drawing a line to two related concepts that are frequently named in conjunction with it: Web 2.0 and User Generated Content. 

     Web 2.0 is a term that was first used in 2004 to describe a new way in which software developers and end-users started to utilize the World Wide Web; that is, as a platform whereby content and applications are no longer created and published by individuals, but instead are continuously modified by all users in a participatory and collaborative fashion. While applications such as personal web pages, Encyclopedia Britannica Online, and the idea of content publishing belong to the era of Web 1.0, they are replaced by blogs, wikis, and collaborative projects in Web 2.0. Although Web 2.0 does not refer to any specific technical update of the World Wide Web, there is a set of basic functionalities that are necessary for its functioning. Among them are Adobe Flash (a popular method for adding animation, interactivity, and audio/video streams to web pages), RSS (Really Simple Syndication, a family of web feed formats used to publish frequently updated content, such as blog entries or news headlines, in a standardized format), and AJAX (Asynchronous Java Script, a technique to retrieve data from web servers asynchronously, allowing the update of web content without interfering with the display and behavior of the whole page). Thus Web 2.0 is the platform for the evolution of Social Media.

     When Web 2.0 represents the ideological and technological foundation, User Generated Content (UGC) can be seen as the sum of all ways in which people make use of Social Media. The term, which achieved broad popularity in 2005, is usually applied to describe the various forms of media content that are publicly available and created by end-users. 
     
     According to the Organisation for Economic Cooperation and Development, UGC needs to fulfill three basic requirements in order to be considered as such: first, it needs to be published either on a publicly accessible website or on a social networking site accessible to a selected group of people; second, it needs to show a certain amount of creative effort; and finally, it needs to have been created outside of professional routines and practices. The first condition excludes content exchanged in e-mails or instant messages; the second, mere replications of already existing content (e.g., posting a copy of an existing newspaper article on a personal blog without any modifications or commenting); and the third, all content that has been created with a commercial market context in mind. 

     While UGC has already been available prior to Web 2.0, as discussed above, the combination of technological drivers (e.g., increased broadband availability and hardware capacity), economic drivers (e.g., increased availability of tools for the creation of UGC), and social drivers (e.g., rise of a generation of ‘‘digital natives’’: younger age groups with substantial technical knowledge and willingness to engage online) make UGC nowadays fundamentally different from what was observed in the early 1980s. Based on these clarifications of Web 2.0 and UGC, it is now straightforward to give a more detailed definition of what we mean by Social Media.

     In our view Social Media is a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, and that allow the creation and exchange of User Generated Content. Within this general definition, there are various types of Social Media that need to be distinguished further. However, although most people would probably agree that Wikipedia, YouTube, Facebook, and Second Life are all part of this large group, there is no systematic way in which different Social Media applications can be categorized. Also, new sites appear in cyberspace every day, so it is important that any classification scheme takes into account applications which may be forthcoming. 

Further Reading: Facts About Social Media and marketing

Monday, November 7, 2011

Coming Soon....

Watch this space frequently for more updates on Display advertising, Email marketing, Interactive advertising, Social Media Marketing, Affiliate Marketing, Search Engine Optimization and many more...

Rijil Kuriakose

Display advertising

Under Construction....:)

Rijil Kuriakose

Internet marketing - An Overview

Internet marketing

Internet marketing, also known as digital marketing, web marketing, online marketing, search marketing or e-marketing, is referred to as the marketing (generally promotion) of products or services over the Internet. iMarketing is used as an abbreviated form for Internet Marketing.

Internet marketing is considered to be broad in scope because it not only refers to marketing on the Internet, but also includes marketing done via e-mail and wireless media. Digital customer data and electronic customer relationship management (ECRM) systems are also often grouped together under internet marketing.

Internet marketing ties together the creative and technical aspects of the Internet, including design, development, advertising, and sales. Internet marketing also refers to the placement of media along many different stages of the customer engagement cycle through search engine marketing (SEM), search engine optimization (SEO), banner ads on specific websites, email marketing, mobile advertising, and Web 2.0 strategies.
  
Types of Internet Marketing
iMarketing is broadly divided in to the following three types,
  • PPC/I (Pay per click/impression): Advertisements for brands and products is done on pre-decided websites and helps in generating leads for companies.
  • SEO Search engine optimization is the process of improving the visibility of a website or a web page in search engines via the "natural" or un-paid ("organic" or "algorithmic") search results.

Advantages and limitations of Internet marketing

Advantages

Internet marketing is inexpensive when examining the ratio of cost to the reach of the target audience. Companies can reach a wide audience for a small fraction of traditional advertising budgets. The nature of the medium allows consumers to research and to purchase products and services conveniently. Therefore, businesses have the advantage of appealing to consumers in a medium that can bring results quickly. The strategy and overall effectiveness of marketing campaigns depend on business goals and cost-volume-profit (CVP) analysis.
Internet marketers also have the advantage of measuring statistics easily and inexpensively; almost all aspects of an Internet marketing campaign can be traced, measured, and tested, in many cases through the use of an ad server. The advertisers can use a variety of methods, such as pay per impression, pay per click, pay per play, and pay per action. Therefore, marketers can determine which messages or offerings are more appealing to the audience.The results of campaigns can be measured and tracked immediately because online marketing initiatives usually require users to click on an advertisement, to visit a website, and to perform a targeted action.

Limitations

However, from the buyer's perspective, the inability of shoppers to touch, to smell, to taste, and "to try on" tangible goods before making an online purchase can be limiting. However, there is an industry standard for e-commerce vendors to reassure customers by having liberal return policies as well as providing in-store pick-up services.