Advertisers And Their Advertising Agencies Are Not Taking Advantage Of Social Networks
According to BUSINESS WEEK, advertisers and their agencies are not taking advantage of communicating with their customers using social networks. They have not figured out how to effectively break through. That's because when consumers go to Facebook or My Space, they are more interested in socializing, i;.e. building relationships, re-connecting with past friends, or adding information to their profiles, etc. "In sum, social networks and related tools are transforming the way companies communicate with consumers and potential consumers in profoundly interesting ways. In this light, questions of Facebook's valuation are at best mildly amusing to me. If, as I suspect, Facebook is at the vanguard of transforming how companies reach consumers, $10 billion will some day seem laughably small. Now it's up to the advertising industry to get its collective head out of the sand and exploit this transformation …