Social media is it making marketing profitable?
Posted by Patrick Murphy on Tue, Mar 08, 2011
Social Media is the winner in the last 10 years
Without question the greatest advance in online activity has come in the form of social media. Facebook, Digg, Twitter, You Tube, there are few people in the world who don’t have access to or an account with one or many of these social media. The use of social media is so ubiquitous today that many companies are taking large chunks of their marketing budget and redirecting it into social media platforms. For example, 35 percent of companies plan to invest in Facebook in 2011.
Are you on the social media bandwagon
Many businesses are jumping on the social bandwagon and brining the function in house with up to 60 percent of businesses making that change in 2011. Though there is absolutely no doubt that there is bags of enthusiasm for social media amongst marketers, there still exists a wide learning curve. In a survey, 91 percent of marketers confirmed that there were using some form of social media, but 65 percent of that number had been using it for six months or less.
Social media is about brand awareness
The same survey confirmed that 56 percent of marketers used social media for 6 hours or more each week, 30 percent spent 11 or more hours each week and 12.5 percent spent 20 or more hours a week. Of the benefits to using social media, 85 percent of surveyed marketers agreed that the number one benefit was brand awareness. 52 percent of marketers use social media to generate qualified leads while 63 percent use it to drive traffic. 72 percent complied that it improved search engine ranking.
Social media reduced overall marketing spend
One of the welcome surprises of social media in the business context is its ability to build new business partnership and 56 percent of marketers appreciate this function. 48 percent agreed that social media reduced overall marketing spend. Who knows maybe turning them profitable? These are just some of the social media statistics that are changing the way marketers work online. If you have more questions about social media and how they can be harnessed to promote your business online, contact Silicon Cloud today.
What's New in Social Media for 2011
As businesses are still trying to unlock the potential of social media, now is the time to see what people are doing. Social Media was once compared to sex. There is a lot of focus on it and most people want to try it, but without knowledge and experience, it will be quick and disappointing.
Make sure that Social Media is not quick and disappointing by joining our free webinar on What's New in Social Media for 2011
