The marketing perspective of social networking on the Web:
According to Nielsen BuzzMetrics, Consumer-Generated Media (CGM) encompasses the millions of consumer-generated comments, opinions and personal experiences posted in publicly available online sources (such as blogs, message boards, forums, Usenet newsgroups, discussions and forums on large email portals, online opinion/review sites and online feedback/complaint sites) on a wide range of issues, topics, products and brands, using media such as photos, images, videos, even podcasts and webcasts… and who knows what’s next? In other words, “CGM is also referred to as Online Consumer Word-of-Mouth or Online Consumer Buzz.”
Why is CGM important?
First, consumers place far more trust in their fellow consumers than they do in traditional marketers and advertisers, according to research… Secondly, CGM is prolific and increasingly easy and inexpensive to create… [Finally,] because CGM data is easy to find on search engines, marketers and advertisers no longer “control” the message or the medium.
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