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Advertising revenue on print media keep sliding down and this is also due to print media losing readership. Many publications that manage to keep their businesses afloat are major publications. Many small publications have closed offices due to the lack of revenue or due to the high production costs. Even before the global economy started experiencing set-backs in the late 2007, it was already difficult for publications to have good business. Running a publication is very difficult even with a very good economy. This is why good publications that have wide readership can demand a lot of money for advertising.
But because readership of many publications is slipping and many people are now using social media to connect with one another as well as gain information for their personal and business lives, it really makes sense for companies to start using social media for marketing and advertising. Social media could be the future of advertising. Today, because of the expenses associated with advertising in traditional media, only large companies really get to advertise and reach their target market through advertising. With social media even small companies can create content and reach their target market. Small companies can create content for the consumption of the public. Companies can also use social media to become part of “conversations” and really get their brands included in online discussions. Social media can also be used to generate buzz about companies and products. While advertising through traditional media allowed companies to generate buzz about their products, with social media there is the added benefit of getting feedback from the public. Social media provide companies with the opportunity for interaction with clients.
It would really be a smart decision for companies to start evaluating how social media could be incorporated into their communication efforts. Many companies are already using Twitter, Facebook and other social media successfully for their business. Because these companies were among the first to take advantage of the social media to market their business they have discovered the different and effective ways that they can take advantage of free social media to gain benefits for their business.
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