In my previous blog, I shed light on the need for networking websites to innovate and enhance presence in virgin markets like India and China to grow amid the gloomy economic scenario in US and Europe.
One thing is for certain. India and China are increasingly becoming an attractive destination for the likes of Facebook, Myspace… et al. If you have been following the social media landscape, you will know exactly what I mean. New community networking websites targeting different verticals are cropping up dime-a-dozen. What’s more, even consumers are in experimentation mode as they are lapping up the social media pie.
Recently I read about a company launching a networking website for foodies where one could exchange recipes and trends pertaining to this segment. Unique….isn’t it!
Well I won’t be surprised if there exists a community network site for travelers, finance professionals and sports personals also. In case you have not come across such verticals, be assured of bumping into one of these in the near future.
However what’s worrying me is the gloomy economic scenario that might slow down the growth of social media.
On a more optimistic note, “the gloom” may not bring “the doom” for social media. I am however forced to think that this gloomy economic scenario might encourage companies to cut down on traditional marketing tools and move over to low cost social media for their branding, marketing, and advertising needs. Social media can definitely achieve higher results vis-à-vis traditional marketing platforms in the current economic scenario. Long live social media!!
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