Social Media Straight Talk: The ROI Facts and Figures
Ask yourself which is more powerful when you are deciding on a purchase: a referral from a friend or colleague; a printed advertisement; or a sales person.
Not to second guess you, but I bet overwhelmingly it is someone you have direct contact with, someone who has actually purchased the product or service, or has heard good things about it from a trusted friend. Recommendations are sales gold.
This senario falls into the realm of social media networking. It is powerful, it is convincing and it is proven. Companies have spend millions of dollars to promote their brand and to deliver the right message to consumers through traditional advertising. Now the statistics are in and they are moving more of their marketing dollars to the digital/social media arenas.
Here are a few social media facts and figures:
- 300,000+ businesses use Facebook
- 300 million people are active Facebook users
- 100 million viewers are on YouTube
- 14 million Twitter users
- 346 million people read blogs; 184 million bloggers
Your new and current business will depend more and more on social media marketing. That’s were the hearts and minds of your customers will be focused. They are relying more on input and personal experiences in decision making that having some Madison Avenue wag influence your decision where to spend your hard earned money.
The paradigm has shifted. Power to the people. As James Frley, CMO Ford stated, “You can’t just say it. You have to get the people to say it to each other.”
Here are just a few real life examples:
- Naked Pizza set a one-day sales record using social media marketing. Using Twitter, they increased sales 67% of which 84% were new customers.
- An organized tweet-up for Susan G. Komen for the Cure netted 11,000 visitors in 24 hours and countless donations.
- Web host provider Moonfruit spent $15,000 on social media and increased their traffic by 300% — translation, a sales bump of 20%.
These stories are not uncommon. Creating and implementing an effective social media marketing plan is as essential to your business as your telephones. Implementing one is a must. There is no getting around that social media done correctly takes time and resources, but the return on investment is there for the taking.
The New Buying Reality
Buying habits have changed. Selling has to catch-up to this new reality. The better news is that it is affordable, considering its reach and appeal. You are building lasting relationships that will continue to pay dividends, or in business terms, profits. How’s that for a return on investment.
Get started today. The Web Success Team can tailor a social media marketing plan to fit your company and to promote your brand.
Source for this article: Socialnomics
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