Google’s domination is now threatened by the rise of social media. Google has long been the leader, but now Facebook and MySpace allow searches for people and celebrities, and related facts. You can search Digg and Delicious for best articles on a subject.
The influence of social media on our lives is increasing exponentially. Just look at how President Obama used social media to garner votes. Obama had searches three times more than McCain, sealing the victory in his favor. They used social media to decide on the best words to use for their campaigns. Obama involved his voters in his campaign, and this endeared his voters to him.
NBC telecasted a US open golf championship online, and they captured millions of viewers online. This was an experiment for NBC, but it was a step in the right direction. Unlike superbowl or TV ads, online viewing needs new metrics. Online viewership allows more measurable metrics, has a younger audience who don’t mind watching some advertisements, and allows you to collect precious demographic information from your viewers. It is also far more cost effective vs. TV, magazines or outdoor ads.
Facebook is also a boon to advertisers. Now advertisers can advertise to only the ‘singles’, or to those who are fans of certain product category, or to those who have certain purchase patterns. More targeted advertising such as search advertising has overtaken previously hot banner and display ads.
In the future, the winners will be those that can utilize the power of social media well to market their products of great value. The team players will work with society at large to generate massive amounts of referrals. Middlemen and traditional advertising will see the greatest threat to their survival. Let the revolution begin.