Social Networks Vs. TV Networks
Posted on: Monday, 12 May 2008, 06:00 CDT
SAN FRANCISCO -- As the Internet's Next Big Thing, social networks are drawing inevitable comparisons to TV networks.
The analogy goes like this: Social networks that reach tens of millions of people -- particularly MySpace and Facebook -- will assume the role of the major networks (think Fox, CBS, ABC and NBC) as advertising vehicles.
Second-tier sites (LinkedIn, Bebo and Ning) will fill the roles of cable TV networks (CNN, MTV, USA Network) for more specialized audiences. Vertical sites (Xing, Global Grind) will fulfill the role of niche TV properties (Food Network, Sci-Fi Channel) for advertisers to reach highly targeted enthusiasts.
The appeal? "Social networks have sold the idea of targeting consumers by their interests and demographics," says Daniel Taylor, a senior analyst at market researcher Yankee Group. "They short-circuit the process for advertisers."
What is more, advertisers can get creative online. "There are so many formats -- video, print, photos -- and sizes to reach and engross people," says Brian Hall, general manager of Microsoft Windows Live Business Group.
As NBC's Must See TV on Thursday night was constructed to appeal to young, affluent consumers, social networks offer the same type of media platform today, say ad buyers and other analysts.
"Fortune 500 companies certainly are looking more quickly to non-traditional media to advertise," says Noah Kerner, CEO of Noise, an advertising and marketing agency that specializes in reaching young adults who use new media such as the Internet and cellphones.
It recently launched a JPMorgan Chase campaign exclusively on Facebook.
As younger viewers switch their viewing habits increasingly to PC screens, advertisers will adapt their marketing strategies accordingly to reach them.
"Every advertiser -- car company, travel service, packaged-goods company, financial-services provider -- will need to learn how to communicate with users in a social setting," says Seth Goldstein, CEO of SocialMedia Networks, which helps create ads for social-networking sites.
Source: USA TODAY
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