The social media landscape is drastically different today from what it was three years ago. A social strategy used to be perceived as a fun, cool way for a brand to interact with its customers and fans. It was more about fostering a community than driving actual sales. Today, all that has shifted, and the SXSW talk of the town was about how social media needs to be held accountable for actually driving business results. New strategies need to be put in place so that brands can foster a loyal social community while also measuring its effect on the bottom line. This is a big re-thinking of the platform for many brands, and this year's SXSW touched on the fact that marketers can no longer think about social in a vacuum.
Andy Markowitz from GE is chairman of the board of the Social Media Advertising Consortium (SMAC). When iMedia attended SXSW, he gave our own Bethany Simpson an exclusive interview about why social media (and general marketing) accountability is such a hot button issue in the industry.
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