Social Media Marketing

Social Media

Social Media

Social Media Marketing has changed dramatically the way we shop, the foods we eat, the music we listen to, the clothes we wear and whom we do business with. These days your  sales depend less on your floor salesman and more on your online presence and your business and product reputation online.

We no longer reach for Golden Pages when we need some product or service. We search for a company website on Google, read product reviews on Blogs and ask for recommendations on Forums. We don’t just tell our best friend or a colleague about our bad shopping experience, we broadcast it to the world on Facebook or Twitter.

So what is social media?

Someone is yet to provide a precise definition of this term, but in a nutshell, social media are web portals or websites where people can network, interact and share content.

Types of Social Media

There are many types of social media, with more springing up as we speak. Here are the most important types:

  • Blogs e.g. WordPress, TypePad or Blogger
  • Microblogs/News sharing e.g. Twitter
  • Social Networking sites such as Facebook, MySpace, Professional Networking sites such as LinkedIn or Plaxo and Location Based Social Networking sites e.g. Foursquare and Gowalla.
  • Social Bookmarking sites e.g.Del.ici.ous, Diigo, StumbleUpon .
  • Social Q & A e.g. Answers.com or Yahoo!Answers
  • Video sharing sites e.g. YouTube or Vimeo
  • Photo sharing sites e.g. Flickr or PhotoBucket
  • Presentation sharing sites e.g. SlideShare
  • Article sharing sites e.g. HubPages
  • Social news sharing sites e.g. Reddit, Digg
  • Forums e.g. boards.ie or bodybuilding.com

Social Media is time consuming and a bit overwhelming for most businesses. Many small business owners shy away from social media thinking it is a passing phase, in other words, a fad.

 

Is Social Media a Fad?

Watch this short video below to find to find the answers…

 

Why should you bother with Social Media – A summary

Here is a short summary of some facts presented in the video:

  • As of the end of February 2011, there were an estimated total of 642.5 million Facebook users worldwide. 1 in every 13 people on Earth is on Facebook
  • There are 1,858,180 Facebook users  in Ireland (nearly 50% of population), 152,189,880 in the US ( 71.2 % of population) and 28,940,400 in the UK.
  • More than 1.5 million pieces of content (web links, news stories, blog posts, notes, photos, etc.) are shared on Facebook…daily.
  • 35+ demographic represents more than 30% of the entire user base
  • 18% of Americans login to Facebook before they get out of bed
  • Facebook tops Google for weekly traffic in the U.S.
  • Barak Obama has over 5 million fans on Facebook
  • Over 400 000 businesses have presence on Facebook
  • 80% of companies use social media for recruitment; % of these using LinkedIn 95%
  • The fastest growing segment on Facebook is 55-65 year-old females
  • Generation Y and Z consider e-mail passé – Boston university has stopped distributing e-mail account
  • The #2 largest search engine in the world is YouTube
  • It took Radio 38 Years Years to Reach 50 millions Users, TV (13 Years), Internet (4 Years), iPod (3 Years)…Facebook added 100 million users in less than 9 months…iPhone applications hit 1 billion in 9 months.
  • There are over 200,000,000 blogs online
  • 54%  of bloggers post content or tweet daily
  • 34% of bloggers post opinions about products & brands
  • 78% of consumers trust peer recommendations, only 14% trust advertisements
  • Only 18% of traditional TV campaigns generate a positive ROI
  • We no longer search for the news, the news finds us

 

Social Media isn’t a fad, it’s a fundamental shift in the way we communicate. In the near future we will no longer search for products and services, they will find us via social media. The ROI of social media is that your business will still exist in 5 years. We don’t have a choice on whether we DO social media, the question is how well we DO it.”

 

How social media can benefit your business?

Gary Vaynerchuck, a video blogger and co-owner of a wine retail store, grew his family business from $4 million to $50 million using social media. He found that $15 000 spent on Direct Mail brought him only 200 new customers, $7500 spent on billboards, 300 new customers and $0 spent on Twitter -1800 new customers. Dell sold $3 000 000 worth of computers via Twitter.

According to the research conducted by a web hosting provider Moonfruit, a $15K investment in social media brings 300% increase in traffic and 20% increase in sales.

 

Social Media Revolution is here.

ARE YOU PREPARED?

 

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