Social media takes audience participation to a new level, as readers become reporters, commentators, and even editors. For businesses, the many opportunities include building communities of loyal customers, reduced content creation/acquisition costs, and increased audience size through viral marketing. But there are threats as well: the barriers to entry may be low for competitors, a community’s point-of-view may not compliment the business plan, and communities are hard to jump-start and often slow to grow.
This poster presents an overview of value creation through social media in contrast to broadcast and interactive media.
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