The old adage of telling seven friends about a bad experience but only one friend for a good experience is just that. OLD. Two minutes on a Social Media app and thousands will be reading and commenting on both the good and the bad!
Whether we like it or not social media marketing is here to stay. Dare I say it, with 721 million friends on facebook where do you think people are spending most of their time. We are connected to Facebook at all times, in the car, at work and at home. So what does this mean for the obesity epidemic? Well it isn’t good. Neither is it positive for the increasing rate of car accidents. One negative aspect to social media for business, is that it increases the number of people sharing a bad experience. The largest up-side to social media is that more people can also read about a good experience with your company, and then repost about their own feelings and comments! Even if your company is not on Facebook and other social media sites, they are a great place to get feedback from clients. Thus social media like Facebook has staying power and businesses should embrace it for the good or bad.
These same principles go for Twitter, Google +, Flicker etc…
According to Facebook data there is no longer 6 degrees of separation between any one person. Now Facebook has shortened it. We are now separated by only 3-5 degrees! Surprisingly the median number of friends reported is only 100. This seems very low and most likely, if you look at your friend’s friends count, they most likely have more than that.
Primary findings of Social Media Marketing Industry Report 2012
- “Marketers still place high value on social media: A significant 83% of marketers indicate that social media is important for their business.
- Measurement and targeting are top areas marketers want to master: Forty percent of all social media marketers want to know how to measure the return on investment (ROI) of social media and find customers and prospects.
- Video marketing holds the top spot for future plans: A significant 76% of marketers plan on increasing their use of YouTube and video marketing, making it the top area marketers will invest in for 2012.
- Marketers seek to learn more about Google+: While only 40% of marketers are using Google+, 70% of marketers want to learn more about it and 67% plan on increasing Google+ activities.
- Top three benefits of social media marketing: The number-one benefit of social media marketing is generating more business exposure (reported 85% of marketers), followed by increasing traffic (69%) and providing marketplace insight (65%).
- Top five social media networks/tools for marketers: Facebook, Twitter, LinkedIn, blogs and YouTube were the top five social media tools used by marketers, in that order.
- Social media marketing still takes a lot of time: The majority of marketers (59%) are using social media for 6 hours or more each week, and a third (33%) invest 11 or more hours weekly.
- Social media outsourcing underutilized: Only 30% of businesses are outsourcing some portion of their social media marketing, only a slight increase from 28% in 2011. ”
Time investment on in social media is important. A small business alone has at least 6 hours a week invested in social media between Facebook, twitter and blogging. Is it worth it? Most likely yes, but for some businesses a strong Facebook presence could be a life saver.