It’s everywhere, on cabs, on bus stops, in the papers, on the radio.. social media. “Find us on Facebook! Twitter with us!” etcetera, but really, how prevalent is this lucrative advertising medium?
Interaction with larger companies, brand names, was up to 78% of all social media activists; an overall increase of 32% from 2008. And of all users, 95% believe that not only should big brands have a social media presence of some sort, and 89% of all users believe that active interaction should be taking place in this manner.
As for customer experience tieing into social networking (a survey conducted by Tealeaf via Econsultancy), 75% or respondants ahve said their choice of retailer was influenced by what was read on social media sites, while 56% admitted to avoiding a company after a bad review had been posted. In total, 51% of respondents came about as being influenced by what they have seen on social media sites.
All business can benefit by exploring, and taking advantage of all advertising opportunities available to them, but small business owners tend to benefit most as the ROI (return on investment), most often only your time, is greatest. And yet, only 9% of small business owners take advantage of Twitter as a means to market themselves. 32% of small business owners intend to use social media networking within the next year however, and 39% plan to include customer reviews and ratings on their site.
Just in the US, Facebook popularity increased by 194% through to September 2009, launching it into the number 1 social network spot, with 59% of all US visitors to social networking sites. Myspace, came in at the number 2 spot with 30% of market share, a drop of 55% from September 2008. Bringing up the back end was Tagged at 2% and Twitter with 1.9% of the market visits. Twitter, being the newest player to the field should definitely not be discounted however. Getting Mom and dad online has helped, as usage of social networking rose by 77% by users over 55.