The growing importance of social networks

Blake Chandlee, UK Sales Director of Facebook, gave a fascinating key note speech at the Technology for Marketing exhibition this week. Facebook’s stats are just phenomenal: 65 million users worldwide; 8.7 million in the UK; 6 billion pics have now been uploaded to Facebook.

The importance of social networks to us as marketeers is growing all the time. Why? Firstly, because media now is just so fragmented and secondly because the power that brands have to influence consumers is diminishing. First and foremost people look to friends, family, colleagues for advice and recommendations. They trust what brands say less and less.

More trust is placed in online consumer recommendations (think Amazon reviews or eBay feedback) than what a brand says about its own products. Consumers are becoming the brand ambassadors themselves. This has mind blowing consquences for marketing because we’re no longer in control of the brand messaging. Instead we need to find a way to engage with consumers and look to influence the conversations they’re having.