Social media thus is an evolution of word of mouth that scaled up by leveraging the pervasiveness of Internet.
The major components of social media span are 1) Social Networking 2) Micro blogs 3) Blogs 4) RSS Feeds 5) Widgets 6) Linking and posting 7) Content Rating 8) Bookmarking sites 9) Audio podcasting 10) Video podcasting
This paper tracks the History of Social Media and tabulates the various components of Social Media. The study concludes that Social Media is an explosion of word of mouth networks and is different from Digital Marketing that does not always rely on social interactions. Utilizing Social Media for Marketing is an inorganic means of building Reach, Engagement and Intelligence whereas Digital Marketing involves Social Media and also the usage of tactics like PPM, banner displays, Online Advertising, Mobile Adverts etc.
1 “Statistics.” Press room. Facebook Web site, accessed January 10, 2011. http://www.facebook.com/press/info.php?statistics
2Beaumont, Claudine. “Twitter hits 10 billionth tweet.” The Telegraph. March 5, 2010.
3 “Social Networking Habits Vary Considerably Across Asia-Pacific Markets.” comScore press release. April 7, 2010.