The Social Media Phenomenon

Social media—what is it? Is it just another buzz-word of the day? Something that is here today and gone tomorrow? Or is it something that will be talked about but useless for you and your business? Social media is in its early stages, but it appears it is here to stay. With the term being so young, definitions can vary from professional to professional, but for the purposes of this article, let’s define social media as online content published by the general population, utilizing a variety of online formats.

The most popular form of social media is blogging. Blogs are a form of online journal, but they contain a conversational aspect—as readers can normally post comments on the articles posted by the blog owner. Sites such as blogger.com offer free services for anyone to setup their own personal blog. It’s easy, free and allows for complete expression for all parties. This has made it become the most explosive format of social media.

A close second to blogging are peer-to-peer networking sites. Popular sites under this category include, MySpace.com, Friendster and Linked in. Normally these sites cater to a specific demographic or purpose. The sites allow users to post personal profiles along with other information they feel relevant to display to visitors. The most powerful aspect of these sites is the ability for large amounts of strangers to get connected to each other faster than ever before possible.

The newest form of social media is podcasting–placing audio or video files for download and playback on a computer or portable media device such as an iPod. Thanks to Apple and its popular iTunes software, distributing podcasts is simple. The general population now has an easy method for building an audience for audio or video formats on any topic they choose.

So what does all this mean for business? Social media can be used effectively in certain situations. Blogs can be placed on company websites, but they must be monitored carefully as negative feedback can be damaging. A good practice is to read blogs that have been setup for your company by outside parties. It’s like having a constant and free focus group. Peer-to-peer networking sites can be utilized to make key customer and vendor contacts by promoting your capabilities to a distinct market segment. Podcasts can be utilized to distribute useful information in an engaging and entertaining manner. It also adds value to your website by giving users the convenience of absorbing content on the go.

Social media is here to stay. It’s still early, so I suggest experimenting with the different formats. Search for podcasts of interest, become active in a blog and join a social network site. Through experience, ideas will flourish.

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