â€Word of mouth†is the strategy behind marketing on social media. 2008 saw much hype over the emergence of this new form of marketing and now that the dust has settled, it is time to come to terms with the challenges of social media marketing. No longer a fringe benefit or additional service, online marketing sees social networking, blogs and bookmarking sites as the latest thing, picking up from search engine optimisation. Apart from the upswing in popularity that social media has seen, there are advantages that remain untapped by many SEO firms that provide social media marketing services as well. Online communities have had a profound effect on popular culture evident from the widespread use of sites like YouTube, Flickr and other media outlets. Organisations that do not realise the business development potential of this cultural phenomenon will find themselves struggling in the marketing world of 2009. The recession caused by the meltdown of financial institutions worldwide is now prompting a new wave of media marketing that is driven by smaller staff and tighter budgets. For conformists, holding on to traditional marketing avenues will probably spell PR doom. There is a demand for open, transparent and direct conversation between customer and merchandiser that only the social web can fulfil. Adapt, evolve or perish has been the principle guiding success within every industry and the marketing world has seen the advent and decline of other media in the past. The first to embrace new forms of marketing have always been most successful and in this transitory period the question of when rather than why is now significant. The advantages of social media marketing are manifold. Enabling your customers to act as spokespersons, targeting relevant bloggers to endorse your services and initiating discussions between employees and customers are some of the many ways in which marketing is revolutionising online business. Very often social media marketing is confused with social media optimisation. The two terms while similar, have taken a more definitive meaning in this new year. 2008 was the year of SMO †where websites were encouraged to be more social media friendly, add social bookmarking links and create user friendly content. Social media marketing, on the other hand, is an extensive field that finally aims at promoting content via social networking websites. As SMM makes its way to the forefront of online marketing, there is a compelling need to embrace this new medium to survive in the cutthroat world of online retailing.
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