Social media marketing is all the rage now as various experts and gurus will attest. However the truth is that it takes consistent time and effort to see any returns on this investment, as with any marketing venture.
Consider, for example, the following:
YouTube was purchased in 2006 for US$1.65 billion.
It has consistently raked in losses until now. In other words, YouTube has so far been a loss-making red entry in its owner Google’s financial books.
2010 is projected to be YouTube’s first profitable year.
There are no silver bullets in marketing. Social networking can be leveraged to provide amazing marketing benefits but be prepared for the long haul when you do this.