The very foundation of marketing is transforming before our eyes, and social media is playing a bigger and bigger role in the way marketers communicate.
MITX’s FutureM offers the community a week of events exploring the future of marketing and media, designed to promote innovation and bring the community together around the biggest and most exciting topics facing marketers today. FutureM events address the changing role of social media in marketing, so we reached out to our socially savvy event partners to find out their answers to the following question: “What is social media’s role in the future of marketing?” Here is what they had to say:
- Ian Cross, Professor of Marketing at Bentley University
“Social media is woven into the fabric of social discourse and upending conventions about what should be shared, discussed, and presented to society. But the medium is not the message; the message is defining the medium. Technologies will come and go, but the free exchange of real-time information is exciting, and it is challenging organizations and consumers. Tricky questions of censorship, organized riot and revolt, and online identity will need to be resolved. But right now, let’s embrace the unfettered exchange of ideas and technology that bring us together and resist efforts to command and control.”
- John Fichera, Boston University student and intern, The Castle Group and CMO, FutureM Student Committee
“Social media makes marketing personal. For example, if you see that one of your friends is into a certain product or brand (e.g., via Facebook), then this can spark your interest to at least research the product, raising name recognition.”
- Chris Pollara, CEO of Convertiv
“As adoption continues to grow, social media will become the preferred connection point and education vehicle between brands and consumers. Leading organizations will need to adopt and scale accordingly. Well-executed campaigns will motivate your community by fostering natural, self-sustaining conversation centered on consumer-generated media.”
- Matt Rainone, Manager of Strategic Marketing at AMP Agency
“The future of social is less about the channels and more about how, when, and where we’re accessing them. Our emotional connections to our devices point to a future where our social profiles, location-based services, and mobile payment systems converge to create an always-connected, one-step-from-purchase lifestyle.”
- Marty Watts, Director of the Meltwater Group
“In the future, social media will alter the role of (PR, advertising, and digital) agencies, and more importantly, how these service businesses are run. By leveraging the slew of new social media technologies, these organizations will be able to drive down fixed operating costs while generating net new revenues through digital client work. It will be exciting to watch which agencies embrace this sea change and succeed and those that cannot adapt and go the way of the Dodo.”
Social media is evolving as a force—if not THE force—in modern marketing. As e-commerce and social grow together, websites like Twitter, Facebook, and the young Google+ are becoming the playground for experimental marketing. This is creating new challenges for marketers, buyers, sellers, and others within the social ecosystem. As innovations—such as Facebook’s “Sponsored Stories”—show, there are plenty of up-and-coming ways to turn social media into a powerful marketing medium.
The modern social media strategist must be part technologist and part behaviorist. As marketing leaders, we must be willing to experiment with and implement technology while studying the changes in human behavior that come with new and evolving social media adoption. As our experts stated above, we are in the midst of foundational change. Who’s brave enough to create social media’s future?