When thinking about social media, the words “value” and
“power” come into play. The value a
brand takes from it and the power it gives to the people. We all know the difference between social
media and traditional marketing such as newspapers, television, advertisements,
billboards, etc. is that the consumer can interact on social media. Not only does social media give power to
people who view it, but it also adds valuable feedback to a brand’s marketing
campaign and can help them evaluate what people think.
To help understand how these social media platforms gain
value and power, there are three laws: Sarnoff’s Law, Metcalf’s Law, and Reed’s
Law. Of these three laws, I feel there
is only one law that I agree with most.
That law is Sarnoff’s Law. It’s
very simple, it states that the value of a broadcast network increases in
direct proportion with the number of users.
I agree most with this law, because it’s just simple and easy to
understand compared to the other two laws.
For example, a Twitter page with 5000 followers is 4 times as valuable
than a Twitter page with 2500 followers.
The other two laws have complicated mathematical equations to solve,
making it confusing as to where that math came from. The math is very simple for Sarnoff’s Law;
network’s value = (number of participants)^2.
The math is still questionable as to where it comes from, but it makes a
little more sense than Metcalf’s and Reed’s Laws.
My thoughts about the way people might get their information
in five years are basically how it is today.
People will be using the Internet to access their information like they
are today, but on a more mobile level. I
feel people will begin to use their cell phones more often when trying to find
information. Most people now use their
laptops and when they need to their cell phones. But with the way our country is becoming so
fast paced, people will have to use their phone for one the go situations. I know I have began using my phone for
accessing information more often than my laptop. If I need to find something quickly, I will
instantly pull my phone out rather than my laptop because it’s easier to
access.
Let me know what your thoughts are!