Is advertising in trouble? Probably. Is it in danger of being rendered irrelevant by social media. I doubt it. In fact, I believe that advertising and social media are part of the same endangered paradigm—the “no accountability” paradigm.
I’ve read a number of articles and posts recently that tried to address the idea of accountability in social media. None of them offers any evidence of accountability on the horizon. As one writer put it:
So far, the spirit of experimentation has provided a sort of ‘get out of jail free’ card with respect to having to demonstrate the value of digital and social media programs and initiatives. It looks like 2009 will change all that due primarily to three factors:
- The widespread awareness of social media use in a business
context
- The economy
- The economy
In a response to a comment he went on to say:
If folks are thinking that social media alone is the answer, then they may well be disappointed.
Of course, traditional advertising has been dodging the accountability bullet for decades.
Non-social digital marketing, on the other hand, is nothing if not accountable. I’m not sure if the bang for the buck is there yet, but it is accountable. And, from all indications, it’s only going to get better.
If digital marketing was a step forward in accountability, social media is a giant step backward.
I do believe that social media is an exciting and a potentially powerful addition to the marketing mix. Unless it starts proving its worth as a marketing investment, however, it may find itself in an even more vulnerable position than advertising.
