MediaWhiz and its sister agency, Ryan Partnership, co-hosted a Social Media Week Chicago panel Sept. 28, 2012. The panel, titled, “What the Social Media Hype Cycle Means for Brands,” examined how the Social Media Hype Cycle impacts brand marketing, social media and social advertising.
The Social Media Hype Cycle is a term and theory Steve Goldner, senior director of social media at MediaWhiz and Ryan Partnership, developed to help explain the rise and fall of social media channels and networks and their business value to brands.
“Facebook has failed!” screamed the media, as Facebook’s stock price continued to tumble off its IPO price. Indeed, the headlines have been bleak. But Facebook is a microcosm of a macro phenomenon afflicting all of social media.
Facebook, the once great social network, is in danger from itself, and the promises either it made, or expectations heaped upon it by its users. It can either move on and evolve into something greater than itself, or suffer the fate of other great Internet companies before it, (GeoCities, Yahoo!, Netscape, MySpace … the list goes on and on), possibly dragging the rest of the social media industry down with it.
And while I could chalk up the recent history of the Internet’s failed companies as a source of endless cautionary tales, two particularly valuable and relevant examples come to mind: Aol and Yahoo!
Both were pioneers and innovators in their time and both are examples of what not to do when it comes to running an Internet business. What they lacked is the ability to move beyond the business model that made them great, and evolve into one that provided sustained growth and success.
Facebook finds itself in a similarly troubling situation — it must evolve or die. (more…)
It’s the most wonderful time of the year! Why? Because Social Media Week is almost here! This year, MediaWhiz is partnering with its sister agency, Ryan Partnership, to host a Social Media Week panel in Chicago.
Titled, “What the ‘Social Media Hype Cycle’ Means for Brands,” MediaWhiz and Ryan Partnership’s Social Media Week session will explore how the social media hype cycle is impacting social media marketing, social commerce and social advertising. Panelists will use the hype cycle model to demystify social media marketing and explain what is needed to deliver measurable value to brands.
Following this lively session, you’ll walk away with a better understanding of how the hype surrounding social media impacts brand marketing and what you can do to generate measurable value from your social media marketing spend.