Last week I got into a discussion that started over on LinkedIn about whether simply placing ads on social networks sites was enough to claim that you are engaged in Social Media Marketing (SMM). The question was linking to a post over at Windchimes which does into more detail.
Of course, my view is that all you are doing is advertising in this instance: you are not engaged in SMM unless you are, ahem, engaging with the audience. And that takes a lot more work.
So I was interested to read that online video upstart Hulu is outgunning YouTube in terms of revenues over in the US. Forecast revenue, that is, for 2009.
This is on the back of 6m users compared to YouTube’s 83m.
That would appear to be a useful measure of the ad-revenue-value of ‘professional’ content versus user generated (or, dare I say it, pirated?) content. 14:1 – not a bad multiple… and wholly understandable.
So, the question remains: what is the revenue model for social media? Doesn’t look a lot like it’s advertising as we know it… it must come down to engagement marketing. I wish I had some great examples to share wtih you but they are still too few and far between IMHO.
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