Social Media is taxiing for takeoff on Business Runway 2010

Social Media started to taxi on the run way this past year. Now I believe 2010 will be the year that many will start to sit up and take note, ask questions and wonder what part if any Social Media will have for their company.

As traditional media is facing enormous challenges I think most companies are seriously considering their spend in the print and broadcast mediums. It will be interesting to see the roll of expos. The large international expos and conferences will always be with us, however I wonder if you now are giving more serious though to participating in local expos and whether their is a sufficient return for a 3 day outing.

Social Media is turning many marketing budgets thru a topsy turvy time. In discussing with various companies I hear that traditional media spend is being slashed, one advertising agency is dropping staff big time and others are grappling with the mindset change and to bring Social media into their mix. One major NZ company has not spent anything on traditional media in the last 2 years and another is slashing a $40,000 Yellow page spend down to $2,000.

Is Social Media to stay?

The answer is a resounding Yes all round and maybe this video will give you some insight.

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