Social media has become one of those often-discussed and little-understood topics - however, companies that are supported by the medium, such as Facebook and Twitter are enjoying bullish valuations among Wall Street circles. Social Media Week
- a series of events scheduled across nine cities globally - sought to better comprehend the many issues and opportunities presented by social media outlets.
Panelists in New York, hosted by The Morris & King Company
, sought to tackle the question of the divergence between national and local messaging in social media environments. While the conversation centered around national messaging as a branding platform and local messaging as an opportunity for action, there were attempts to redefine social as a strictly local phenomenon.
Jack Serpa, EVP with Engage 121, insisted that social is only local. The examples Mr. Serpa cited were around the face-to-face bonds built between consumers and local restaurants. Similar thinking on the uses of social media have also been implemented with varying success among automotive dealerships.
But bigger issues and redefinitions emerged in the discussion - on the question of whether or not social media is being over-thought.
Andy Morris, principal of Morris & King summed up this portion of the debate in a quick tweet: "Who should OWN social media? PR? Advertising? Operations? Social CRM? @jackserpa at #SMWEngage at @Morris_King."
And so the conversation could not reach a conclusion, the question of national versus local supplanted by the bigger and more nagging question of what social media is or strives to be - and how businesses can benefit from it.
Meanwhile Facebook, Twitter, and LinkedIn valuations remain strong - even though, as Slate reports
, the social media bubble remains a concern.