Social Media Scores Against Search Engines

Google is no longer number one! Facebook has become the new first top source of traffic for major news and entertainment portals like Yahoo, Msn, and AOL, and is “among the leaders” for other sites as well. A recent report released by traffic analysis firm Compete revealed that 13 percent of the traffic on these portals was generated by Facebook, placing Google’s seven percent on the third position, after eBay who generated 7.6 percent. This is probably a historical moment in the evolution of social media and online marketing. We might soon witness one of the greatest battles on the internet, with new and ambitious social web services like Google Buzz claiming their fraction of the market share.

While these statistics are just another data point and shouldn’t be taken as definitive, there’s no question about the trend they reflect. Facebook has been growing strongly in terms of overall traffic to other sites and blogs, becoming a real challenger to these Internet juggernauts like Google, Yahoo and Msn. That doesn’t mean it’s going to replace them any time soon. It’s worth noting efforts made by search engines to become more social and integrate social media content in their search results.

Are businesses ready to embrace and harness the power of social media? Issues on debate are not connected to a mere social media presence. We witness a paradigm shift, where a few factors play a major role, far beyond profiles and accounts on Facebook, Twitter or MySpace. Businesses should develop clear social media strategies based on indispensable considerations. Here is a list suggested by Word of Mouth Marketing Association:

1. Your brand no longer belongs to you. Control becomes more and more an illusion. Communication gets interactive and viral. Consumers are now able to not only receive content from brands and marketers, but are response enabled.

2. If you don’t control the conversation – someone else will. You must at least become an authentic part of it.

3. A little bad pushes out tons of good. Businesses can no longer afford criticism. Online reputation management is distinguished, especially due to “word of mouse” speed and reach.

4. Talking to existing audiences/members in much more valuable than trying to solicit new ones. There are few things worse for a repeat customer than being ignored or neglected for a newcomer.

5. Value exchange is critical for engagement. Social media is based on the fundamental “Social Exchange” theory: people are satisfied when they receive a fair return on their expenditures.

Brands and marketers have started to realize the power of customer engagement via social media. Search is collected one dimensional. Businesses need to hold a fresh concept on their scope for marketing communication and positioning to selling. The time has come to gather into social networking band wagon.