Visit the Wikipedia page “List of Social Networking Websites” (http://en.wikipedia.org/wiki/ List_of_social_networking_websites). Scroll down the list. How many have you heard of? Start to think about which of these social networks would attract the potential customers of a specific brand, and where those potential customers may be most active. Are there social sites where customers are active, yet the brand is not?
How big is social media?
Research the number of subscribers or viewers of traditional media such as top newspapers, magazines, and TV shows. Now look up the number of active users of the top social networking sites. How do the numbers compare? To take this analysis one step further, look up the cost of an advertisement to reach those viewers or readers in traditional media advertising. Compare that to the cost of social media to reach a similar number of viewers or users.