Trend cycles?
Social media is one of the hottest, most hyped subjects (should I say fashions?) in marketing right now.
In fact, it feels a lot like websites circa 2000 when trendy companies just had to have a website. There were some grand visions, but in reality websites back then had no viable role in most business models. Consequently, they drained cash and produced little. That was why, at that time, I was advising clients not to build one.
Later, towards the middle of the decade, when the reality check of the dot com crash had settled, websites started to mature into a useful business tool. I began telling clients, you probably won’t make money out of the internet yet, but you need to engage and start learning.
Now of course I say, no website, probably no business future.
Social media is on the same kind of trend cycle, and it’s about in the middle: time to engage and start learning, so you don’t miss out and get left behind. Maybe you won’t make a decent return out of social media right now, but that time is coming.
For social media, the establishment cycle will probably take five years, not 10.
So it is time to get started with social media – cautiously.
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