regulators and social media

One of social media's major benefits, when used as an advertising medium, might well turn against it and this is why.

Social media strength are the fact that they're social. If someone recommends you a product or a service, it's not advertising, it's WOM and we all know the power of WOM. It's just so much trustworthy. It's your pall recommending you to buy a certain product and that is so much different from all the exaggerations in advertising.

This obviously has not gone unnoticed to advertisers and we all started using social media as a way to advertise our brands.

So far regulators have not stepped in heavily. It is fair to say that with so many new platforms emerging and evolving constantly it is probably difficult to follow up on this as a legislator, who have to go through long and time consuming processes to create new laws.

I believe it is beneficial that clarity is created and guidelines are provided to advertisers. Preferably through self regulations, if needed by law. On basis of that advertisers know what rules to observe and can decide whether and how to use social media. Today, it is too much of a Wild West and honestly, that is beneficial to nobody.