The internet has been a boon for entrepreneurs. The commerce said entrepreneurs have created has been one of connection, more than revenue with social media networks being the greatest love child of the internet age. The overwhelming majority of them are free to use, which has resulted in a dramatic power shift in the industrial media landscape. More succinctly social media is very quickly stealing eyeballs from traditional media.
While startups are busy creating the new forums which people connect and entertain themselves on, advertising and media agencies are scrambling to stake their claim on new media. It’s shaping up to be the demarcation dispute of the decade. Both parties believe that social media is rightfully theirs:
Media Agencies claim it is ‘Media’ and so their clients should engage them strategically.
Advertising Agencies claim it is ‘content driven’ and so their cleints should engage them straetgically.
What’s clear is that is isn’t about to go away and it will continue attract larger percentages of the marketing budget as time progresses. And just in case your wondering what I think about social media and who rightfully owns it, my viewpoint is very clear and is given below:
Just like any emerging technology or industry, no one rightfully owns it. It’s up for grabs. The companies (new or existing) who move into the space the quickest and add the most value will take home the trophy.