False economy What’s in it for me? Understand what makes the

Marketers benefit from the myth of social 
media – a myth they create and actively 
perpetuate.
Surely you’ve seen or read about so-called 
“experts” on social media. They are bloggers, 
authors and consultants who promote various 
social media platforms and strategies, AKA 
marketers. But why exactly do they promote 
social media so vigorously?
By claiming that social media is an 
indispensable marketing tool for all businesses, 
marketers can then sell their “expertise” to a 
broader range of clients.
Usually, you can’t give people generalized 
market advice, as every good marketing 
decision should take into account the exact 
circumstances and opportunities of a particular 
business.
For example, TV commercials might work for 
large clothing retailers, yet be a waste of money 
for a one-man tailor shop.
But by creating a myth that social media 
platforms benefit all businesses in the same 
way, these “experts” also increase the size of 
their own markets!
In addition, marketers trick their customers into 
thinking something new is happening by taking 
existing internet phenomena and describing 
them with new buzzwords.
Take “Web 2.0,” for example. This buzzword 
was promoted by marketers after the dotcom 
bubble burst, when investors were wary of 
investing in the web because they had lost so 
much money. But the term “Web 2.0” sounded 
like something new and different, and thus 
opened up their wallets.
In reality, “Web 2.0” is just the same ol’ web 
where content is created and shared, and not 
something completely novel.
Furthermore, marketers create new marketing 
opportunities for themselves by building upon 
the myth of social media.
For example, when no one knows what 
buzzwords like “Web 2.0” or “social media” 
mean, then marketers help fill the information 
gap that they themselves created by speaking at 
conferences and seminars, or by writing books 
or offering consultations.
“Social media” or “Web 2.0” are only two 
examples of many; marketers will invent new 
buzzwords to increase their sales when things 
get quiet. What will they come up with this year?