Gary Vaynerchuk strikes with another awesome rant: “You Down With ROI?… Yeah You Know Me“. Are social media in trouble because of the U.S. financial crisis? Nope, it’s magazines, radio and TV who are in trouble, say Vaynerchuk. And guess who agrees: Yours truly.
Because social media have a number of clear advantages over traditional media when it comes to advertising. Says Vaynerchuk: “ROI. I am talking about Return on the Investment of your advertising dollar. Traditional media advertising is incredibly expensive and doesnâ€™t provide nearly the rate of return you can derive from intelligent web-based marketing campaigns in 2008 and beyond.”
Not only are social media much cheaper both to produce and to advertise on, they also have more value – in their respective niches.