Social Media is proving itself to be the most valuable player in the realm of business marketing. More and more people are not only becoming aware of social media, but also adopting it as a primary tool in marketing. According to a study by emarketer.com, “91% of firms are using at least one social media tool in 2009 and three-quarters describe themselves as “very familiar” with social networking.” Some of the most popular activities within the social media space are social networking and blogging.
Did you know that “Twitter” was actually the most popular word of 2009? People did not only like saying “Twitter” they loved tweeting as well! Greater than 50% of businesses tweeted in 2009. One important factoid to be aware of is that only 9% of businesses did not use social media at all, a huge drop from 2007 – where 43% of businesses did not use any social media.
Indeed, businesses are recognizing more and more that social media is an indispensable part of every marketing campaign, and well worth the effort. Success in marketing has been directly linked to the use of social media. And even better news is that businesses have been achieving success with using the main social media platforms, such as wikis, blogs, social networks, online video, podcasting, message boards, and last, but definitely not the least, Twitter. Twitter arguably might be the single most important invention of the decade in the online space, changing the way brands and businesses communicate with their customers.
Companies are also learning the importance of monitoring social media for brand mentions. In 2009, 68% of companies “listened” to social media for brand mentions, up from 50% in 2007. It is increasingly becoming a regular practice to do this. Considering how online conversation trends greatly influence customer opinion, and how it makes or breaks a brand, business owners cannot neglect regularly checking social media to discover what is being said about their brand. Case in point, the Domino’s pizza video scandal. Careless employees posted a prank video where they mishandled food and messed around at work, and it spread like wildfire online. The president of Domino’s exercised damage control by posting an official statement in the same medium that the brand was damaged – online. For small businesses, finding a disgruntled client or customer comment online provides a great customer service opportunity, as well as the chance to mitigate more negative brand mentions in the future.
The age of social media has impacted businesses greatly, and it is here to stay. If you are not using social media for your business yet, you have all the reasons and no excuse to jump in while the water is warm. The benefits go a long way.
