What’s all this hype around Social Media?

With the soaring popularity of social networking sites in recent years, it seems only natural that the business world would look to jump on the proverbial bandwagon. In fact, the demand has increased to the point where agencies are being set up and marketing teams hired solely to specialise in social media, with organisations now choosing to allocate a substantial budget to include it in their marketing strategy.

While the trend towards social media is certainly gathering momentum, it is still a relatively new phenomenon and there are a lot of people out there unsure of what it all means and why it’s considered such an effective marketing tool. If you consider that there were 42.5 million people online in the UK in January, which is up 16% on last year and the reach of social networks is now 86% of the total UK internet audience, then you have some idea of the force behind the social media wave (New Media Age: March 2010).

A social media strategy might not suit every business, it’s patently clear that brands looking to target the traditionally hard to reach 16-24 year old demographic have an opportunity to tap into an incredibly effective resource. According to the Office of Communications, the likelihood of setting up a social networking profile is highest among 16-24 year olds (54%) and that on average, people tend to have a profile on 1.6 sites, with 39% having profiles on two or more.

You might ask what all the fuss is about. There are a number of factors to take into account, one being that increased connection speeds and wider availability of broadband have enabled richer use of the internet, particularly when it comes to uploading and viewing content. People see social networks as a fun and easy leisure activity where users derive a significant level of enjoyment from building a network of friends, watching video, listening to music, playing games and browsing through other people’s profiles.

At Youth Media, we understand that the key to an effective marketing campaign is targeting people during their dwell time. Last year, the UK internet audience accessed 210 billion social networking pages and spent 2 billion hours instant messaging (NMA: March 2010). Not only do people spend a lot of time networking and surfing the net, but placing ads on social networks can capitalise on the extensive demographic information held about the users to run highly targeted and creative campaigns that encourage brand engagement. Business is ultimately about people and social media offers access to a diverse and techno savvy network of consumers driven by a desire for information at their finger tips and instant gratification.

Youth Media is uniquely placed within the student market and offers a wealth of social media channels and strategies for brands looking to target 16-24 year olds. YouthWire is a digital platform that sits on the desktop of PCs in areas of study, with students having an average 6 sessions a month and each session lasting 86 minutes. There is no one else in the market with access to the internal networks of educational institutions in this way. The explosion of mobile apps onto the market has inspired the creation of a desktop version that sits on our platform, giving students access to a wealth of information, video feeds, news streams and capable of relevant content or SMS integration. The app can be built for students to share it from the YouthWire platform onto their social networking profile, where their friends can see it, engage with it and share onto their own profile. Et voila, the reach increases exponentially and the possibilities are endless.