Social media offers "new breed" of marketing

Social media marketing strategies have been described as a "new breed" of internet advertising.

Chief Ingredient, an online marketing company, has suggested advertising through social media can increase the quality of website traffic and "ignite" word-of-mouth discussions about a product or service.

It commented that the development of sites such as MySpace, YouTube and Flickr now allow consumers to discuss and share information on all aspects of a company - from its product to its customer support.

"Chief Ingredient helps our clients engage the social media landscape and increase buzz about their products or services with the branding they control," claimed Micah Johnson, founder and chief executive officer of the firm.

Steve King, chief executive of ZenithOptimedia, recently commented that online advertising could become the third-biggest advertising medium in the world by 2010, overtaking magazines.

He also said internet advertising could be worth $36 billion (£17.5 billion) this year, which is $5 billion more than was predicted 12 months ago.

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