I have been reading about Womma (Word of mouth marketing association) and there are some fascinating information there. This is consistent with both my PhD research and also some of my previous blogs like Long tail social network analysis – A business model for Web 2.0 and Cost per related audience
The question is: Is social media marketing/word of mouth marketing/social media advertising be an important avenue in an economic downturn?
Economic downturns can be viewed as mutations i.e. a sudden shift in evolution which leads to new lifeforms emerging(which otherwise would not have emerged). Thus, we may see the same effect in helping the uptake of some technologies. At an individual level, people have a greater tendency to ‘network’ i.e. use social media – when times are bad. Question is – will we see the same effect with advertising and businesses in the use social media for marketing and advertising in this downturn?
To me – the missing link is – social media must be measurable if this were to happen – and its an area I am working with in detail .. Thoughts/comments/related work welcome. Check out Womma and their Influencer handbook which is open for comments till Oct 20