This is the difference between traditional and social media in one simple chart (albeit a little fuzzy). Forget all the crap you have read on how social media differs to traditional media. This is it summarized right here on startup blog in terms which matter for business:
I’ve made some notes above. Don’t believe what you’ve heard – old media isn’t dead – sure it’s more expensive for the return, but it still kicks but. When rentoid was featured on a nightly news TV show as a positive story, we had more hits that one day than we did for the entire year. And we had been and are investing a tremendous amount of time on new and social media. It’s been a two year effort.
If you want a few other qualitative ideas to take with you then here’s a few:
- They work better together
- Social media is incredibly slow but has a compound effect
- If I had endless funds available for media, I’d still prefer traditional media (for now)
These comments are based on fact and real experience in Australia from my business rentoid.com which has had heavy exposure in both.