What is Social Media

Written by Administrator / Friday, 15 April 2011 16:52

Social Media and Social Media Websites are websites with social interaction, using highly accessible and scalable communication techniques. Social media is the use of web-based and mobile technologies to turn communication into interactive dialogue.

Andreas Kaplan and Michael Haenlein define social media as "a group of Internet-based applications that build on the ideological and technological foundations of Web 2.0, which allows the creation and exchange of user-generated content." Businesses may also refer to social media as consumer-generated media (CGM). A common thread running through all definitions of social media is a blending of technology and social interaction for the co-creation of value.

Distinction from Industrial media

People gain information, education, news, etc., by electronic media and print media. Social media are distinct from industrial or traditional media, such as newspapers, television, and film. They are relatively inexpensive and accessible to enable anyone (even private individuals) to publish or access information, compared to industrial media, which generally require significant resources to publish information.

One characteristic shared by both social media and industrial media is the capability to reach small or large audiences; for example, either a blog post or a television show may reach zero people or millions of people. Some of the properties that help describe the differences between social media and industrial media are:

1. Reach - both industrial and social media technologies provide scale and are capable of reaching a global audience. Industrial media, however, typically use a centralized framework for organization, production, and dissemination, whereas social media are by their very nature more decentralized, less hierarchical, and distinguished by multiple points of production and utility.

2. Accessibility - the means of production for industrial media are typically government and/or privately owned; social media tools are generally available to the public at little or no cost.

3. Usability - industrial media production typically requires specialized skills and training. Conversely, most social media production does not require specialized skills and training, or requires only modest reinterpretation of existing skills; in theory, anyone with access can operate the means of social media production.

4. Immediacy - the time lag between communications produced by industrial media can be long (days, weeks, or even months) compared to social media (which can be capable of virtually instantaneous responses; only the participants determine any delay in response). However, as industrial media begin adopting aspects of production normally associated with social media tools, this feature may not prove distinctive over time.

5. Permanence - industrial media, once created, cannot be altered (once a magazine article is printed and distributed changes cannot be made to that same article) whereas social media can be altered almost instantaneously by comments or editing.

Community media constitute an interesting hybrid of industrial and social media. Though community-owned, some community radios, TV and newspapers are run by professionals and some by amateurs. They use both social and industrial media frameworks.

There are various statistics that account for social media usage and effectiveness for individuals worldwide. Some of the most recent statistics are as follows:

1. The Wongdoody study of the top 100 brands shows that only 84% have company-run Facebook pages. Each of these brands had an average of 1.8 million fans.

2. By 2013, analysts see 67% of online users or 164.2 million U.S. consumers participating in social networks.

3. The highest penetration rates, currently at 83% for 18-24  year olds, will likely continue to occur in the younger demographics. By 2013, 93% of 18-24 year olds will use social networks.

4. From an advertiser perspective, well over ½ of consumers between the ages of 35 and 55 will participate in social networks at least through 2013.

5. Nearly one in three social network users value the opinions and recommendations of family and friends over industry experts, or any other source of information.