Internet Users as a Percentage of the Population - Literature review Example

? 7. I don’t know what you think about all of this social networking stuff. As far as I am concerned, I am here to sell a product. Period. Social media marketing is what this whole thing is about.” Quite often during a discussion between intellectuals, there often arises an instance where an assertive stance or tone is taken in emphasis of a particular notion. The following essay will describe how “money-making” is seen today and what one’s reactions are from the aforementioned quote. The conversation occurring in the aforementioned quote is discussing the implications of advertising through social media. The point of view being taken from the individual is purely through a profit or money-making mindset. Concerns such as data security and data storage are literally thrown out the window, as social media is purely seen as a selling point for companies and individuals alike. Using social media for the affable and leisurely means of communication across transnational borders for family and friends is not in the mindset of the individual in the aforementioned conversation. The notion of making money while you sleep has been discussed widely in internet marketing and social media marketing circles throughout the past decade; so much so that individuals coming into the profession of social media marketing are led to believe that they too can make money while they literally are asleep. Yet there are a number of facets, both moral and ethical, that must be considered when using individual data from social networks for the purpose of advertising through social media networks. How would customers react if, whilst completing their online banking, they were to see an advertisement pop-up offering a meal discount at the latest restaurant they went to? Undoubtedly customers could become a bit finicky when they begin to realise their spending habits are not only being tracked, but are actively used to further promote additional products and services. People hate to be sold, yet a pop-up on a customer’s screen may just be the trigger to earn even more money from them. According to data obtained from the World Bank on worldwide internet users (“Internet users as percentage of population,” 2012) 32.77% of the world’s population is now using the internet. All people of the aforementioned percentage would be interacting with some form of social media, whether it is Facebook, Twitter, MySpace, Google, Yahoo, and so on. The potential of advertising through such mediums in an effective and visually aesthetic way is unfathomable. College dropouts are turning into overnight internet multimillionaires as they are beginning to understand the power of social media marketing. The golden years of elderly experienced working hard for one’s money by working 10, 12, 14 or even 16 hours per day has been replaced with young moguls, who with a keyboard, a mouse and internet access have the capabilities to begin running their own online business from the comfort of their own home with no prior qualifications or experience required. Evans (2010) states individuals are able to develop the use of social media marketing more than just by selling and promoting: it is through the use of effective “dream-like” visualisation from the business owner to the prospective buyer which will entice them to purchase a particular product. Today, entrepreneurs have taken quickly towards information selling and using social media as a form of exponentially increasing their brand awareness. Where previously, word of mouth was predominantly seen as a business’ driver in future sales, today it is simply the click of a “Like” button on Facebook, or a photo or instant “tweet” to friends on Twitter which will determine the success and viability of a company. Business owners will also need to embrace social media marketing and use it to its fullest potential. A number of traditional offline businesses such as postal services are starting to move towards gearing a greater portion of their business activities towards the online arena. Businesses who are based offline must now start to consider implementing their own ‘online brand’ as soon as possible. For it is much easier for the youth of our generation today to be able to send a Facebook message telling their friends how much they enjoyed their dinner at the local restaurant, than it is to physically pick up the phone and tell one’s friends. Tweeting and sending Facebook messages have not only become convenient, but a mandatory must for individuals to keep in touch with one another. Wittkower (2008) exemplifies how people are evading philosophy through human behaviour shifting its focus from philosophical trains of thought to trains of thought based on popular culture. Philosophy is seen as not only ethereal and out of touch for our modern day individuals, but is also considered old fashioned. Common areas of research such as libraries and academic centres are being replaced by online meeting rooms or ‘webinars’ as they are commonly referred to. Information which had students poring over countless volumes of books and information in the library is now available within seconds. The quandary which is presented here however is the quality of information, and in the case of social media marketing one relates to the quality of the product or information that is being sold to the consumer. The question of online regulation or oversight will need to be considered by governments in the immediate short term if there is to be any confidence maintained in ethically promoting and effectively advertising particular products and services to the public. Yet the whole concept of “money-making” over the internet not only presents issues of regulation and standardisation, but of education as well. Norman (2004) emphasises how the human mindset has changed from one of inquisitive learning of a subjective nature, to one’s focus shifting towards a more experience-based nature. The thirst for knowledge is gone and has been replaced with the expectation of an “information lake” being handed to us. Today’s ever-increasing information age has resulted in not only consumers becoming more aware and able to take in greater amounts of information, but advertisers being able to learn new methods of marketing via social media. Terms such as squeeze pages, landing pages, sales letters, or video bookends were virtually unheard of approximately 20 years ago. Social media marketing has enabled individuals to achieve greater levels of financial success that otherwise were previously only available towards companies who had large budgets and even larger industry connections. Social media marketing will also see individuals becoming more autonomous and self-indulged, as all of their shopping, financial, and social needs will be met in one place – via social media. Where there is a large congregation of people viewing a particular website, advertisers are able to place aesthetically pleasing images – known as banners – on the top, bottom, or most common, the sides of websites, which will then capture the attention of individuals who, in turn, will be tempted with a discounted offer or service. The social media marketing space is not only limited to large corporations, but individuals can also take advantage of the ability to increase their online money-making opportunities. Websites such as Clickbank.com offer users a vast array of information products, ranging from dating and cooking, through to weight loss and the lucrative niche of how to make money online. With greater power though comes an even greater responsibility. The development and marketing of information through social media will somehow need to be accredited in the future, in order to prevent individuals from submitting sub-par quality towards consumers in the hope of turning a quick buck. Such an act could also damage consumer confidence in the online information industry, which in turn could also damage the bottom line of a significant portion of online marketing companies. As can be seen from the above, the advent of social media marketing will play a big role in the lives of individuals making money using the internet. Such a greater autonomy of more entrepreneurs in our society will lead to greater innovation, a new way of thinking, increased funds for spending in domestic households, which in turn would lead to greater spending in the economy and a more prosperous society. Whether it be Donald Norman’s views of a shifting mindset from objective to a more experienced-based approach; whether it be D.E. Wittkower’s views on philosophy gradually fading out and being replaced with more technology-based forms of thinking such as social media; or whether it be Liana Evans’ statement on concentrating more on making money through the use of media, all viewpoints accentuate one main point: the ability to increase an individuals’ ability to make money on the internet is greatly amplified through the use of social media marketing. Where products were traditionally sold through forms of billboard, radio, television, newspaper or magazine advertising involving budgets in the thousands of dollars, today’s form of interactions between user and producer have seen social media marketing emerge as a dominant force in the field of advertising: so much so that online advertising spend from companies can well overtake the funds allocated towards offline advertising. Individuals will be able to earn money literally from the comforts of their own home, as they strive to understand the online advertising industry, which is in itself a billion dollar industry. With increased competition and more and more individuals using social media marketing as a tool for growing their online business, governments around the world will need to ensure there are appropriate tracking measures in place to ensure such forms of social media marketing conform to the various standards of moral, ethical, and professional codes of conduct: similar to the television advertising industry which has such a code of practice for all advertisements that are made on air. End consumers will also face a challenge in deciphering the legitimacy of information being provided to them, particularly when such forms of advertising are done in such an open environment as social media. The storage of personal data coupled with the ongoing use of an individual’s data usage will need to be closely examined over the coming years to ensure those who are using social media marketing as a way of making money online, do so in an ethical and moral manner. Consumer trust will need to be established with people before companies can go down the path of actively using social media marketing. Individual corporate bodies will also need to be established in order to create, track and consistently monitor any consumer complaints made in relation to marketing through social media. Overall, the creation of social media marketing for the use of selling products across a wide variety of topics towards consumers – unrestricted by borders, oceans and continents – will serve as a positive testament to humanity in the decades to come. Individuals will no longer be restricted by job profession, career experience, or their country’s economy as they will be able to product an online income for themselves through the active use of social media marketing. REFERENCES 1. Internet users as a percentage of the population, Retrieved 31st January 2013, from http://www.google.com.au/publicdata/explore?ds=d5bncppjof8f9_&met_y=it_net_user_p2&tdim=true&dl=en&hl=en&q=global%20internet%20users 2. Norman, Donald (2004) Emotional design: why we love (or hate) everyday things. 3. Wittkower D.E. (2008) iPod and philosophy: iCon of an ePoch 4. Evans, L.L (2010) Social media marketing: strategies for engaging in Facebook, Twitter & other social media Read More