"We're [Facebook] moving away from the 'wisdom of crowds' to the 'wisdom of friends'" -- Dan Rose

Recently Dan Rose, Facebook executive, made this comment in response to the direction of Facebook, marketing, and advertising. I thought it was an interesting statement. One I started to think seriously about. For the past couple of months I have been working as a Marketing Intern for SafeToBe.Me, a Facebook based privacy and security company. As part of my job, I have been trying to keep up with Facebook and social networking news. This quote really appealed to me professionally, but also as a social network user.

Marketing side: The age of traditional marketing and advertising is dead. No longer will companies focus on radio, tv, and magazines to spread the word about their product or service. Instead we need to focus on the power of the social networks. Word-of-mouth advertising really is going to be the main medium of propagation. So why not take advantage of networks such as Facebook?

User side: I hate ads as much as the next person, but I have to admit that I do look at the ones along the side of the page on FB. Sometimes they are so off the mark it's hilarious (No, I am not in need of baby paraphernalia any time in the near future. Why do they think I'm pregnant?) and sometimes they are spot on (Yes, I would love to see where Paramore is touring this year). When it mentions that one of my friends liked this ad or that, I do pay attention. It also works through friends' posts. Why did I start listening to Mumford & Sons in the first place? Because a friend posted a link to their video "Little Lion Man" on FB. I clicked, listened, loved, and had to run out (actually click over to iTunes) to get the cd. Now I am seeing Mumford everywhere. How did they get the word out about the band and the cd? Through things like FB. Friends "like" things, I pay attention, and sometimes I "like" too.

The power of social networks... pay attention. It's the new frontier!