Above illustrates some common misconceptions of social media in marketing. Social media is not always free. One way or another you will pay for it. Another common issue is the young generation believes that they must go viral with their idea to make money. That is simply not the case. You can have a good product and word can travel. You can simply reach your target market through t social media channels. Lastly, you CANNOT replace traditional marketing. One of my favorite examples is word of mouth. For example, Clark Electrical Services is a electrical company in Roanoke, Virginia. It has not had any social media pages, no commercial, etc. His only way of doing business was? You guessed it, the word of mouth. The owner of C.E., Daryll Clark, is now a millionaire due to the quality of his work. He started with only residential housing. Eventually businesses got word that his work was very quality and moved to commercial jobs.
Paid
Print, television, radio, magazines, cinema, outdoor, banners, direct mail, SEM/paid Search, and in-store media. These are all examples of paid media/marketing. This will help you reach strangers, or someone knew to your product, business, service, or idea.
Owned
Brochure, retail stores, company website, microsite, community, Facebook Fan page, mobile apps, etc. This is how you maintain the relationship with your customers
Earned
Word of mouth, Facebook, Twitter, Digg, YouTube, Flickr, blogs, and forms. This helps you stay connected with fans of your brand, product, service, industry, etc.
