Notes

What Is Social Media?
Social media uses the Web 2.0 platform, which is a significant upgrade from the static pages of earlier websites. Web 2.0 includes services and communities that enable users to create and share content. Social media is consumer-generated media (CGM). It includes social networking sites as well as wikis and blogs.
Communication through social media sites is not exclusively “social,” however—it includes business communication and marketing of products and services. In this area, social media takes on the role traditionally assumed by television, radio, newspaper, and billboard advertisements, but in a way that can be more effective.
Social Media Versus Conventional Media
Social media is different from conventional media in many ways.
Reach: Although both conventional and social media can reach a wide audience, social media provides a wider reach in a shorter time frame.
Accessibility: Conventional mass media equipment and services are usually owned by big businesses or the government, while social media sites can be created by anyone and accessed by anyone at little or no cost.
Usability: Creating content for conventional media typically requires specialized skills and training, whereas anyone with access to the Internet can create and share social media content.
Recency: In conventional media, the time lag between production and consumption of content might be hours, days, weeks, or even months. In contrast, communication via social media is virtually instantaneous. As a matter of fact, conventional media is now adopting social media tools to bridge this time lag.
Permanence: Once conventional media content is delivered to audiences, it cannot be changed. Social media content can be altered at any time, and instantaneously.
One of the key uses of social media in today’s business world is in marketing. Social media marketing has an advantage over conventional marketing tools such as newspapers and television because social media is a two-way street. Social media allows instant feedback from consumers. Lon Safko, author of The Social Media Bible, calls this change “a fundamental shift in power” (from businesses to consumers).