Rise Of Social Media Takes Toll On Traditional Advertising

Sometimes it takes a while for entrenched and fundamentally unproductive business practices to die, but it’s safe to say that traditional advertising, with its focus on “one way” communications to the consumer, emphasis on TV and radio, and reliance on fuzzy consumer data, is closer to death’s door than ever. In its place, we’re seeing a revolution in how the savviest brands are engaging and shaping consumer behaviors with a combination of community-driven live events that carry a strong prestige factor, social media-driven online communities and key individual “influencers” who straddle both worlds and whose support for any brand can mark the difference between success and failure. Read more at Forbes.