1. Social Media is expected to be a $3.1 Billion per year industry. Dedicating some focus and energy to Social Media
is one of the most cost effective ways a business can stay one step ahead of the competition, hence the need for
Social Media Managers. Ad spending has reached nearly $450 billion per year and the fastest growth areas in digital
are social media and ecommerce.
One of the best advantages of this area is its many benefits for business. As a new era in marketing distribution,
social media should be an integral part of every business e-strategy. Social Media expands content distribution and
makes it quick, easy, and affordable. The emerging marketing area provides new and exciting ways to engage with
consumers.
Social Media Facts:
● 68% of people are more likely to buy from a positive Facebook friend referral
● 12% of Retail Businesses have employed full time staff to manage social media
● 23% of businesses monitor social media platforms but dont participate.
● 73% of people trust peer recommendations of products or services, only 14% trust ads
● 44% of businesses see social media as a new channel to properly engage with customers.
Generating rich customer insights, always central to effective marketing efforts, is more challenging and important
in today’s environment. Companies must listen constantly to consumers across all touch points, analyze and deduce
patterns from their behavior, and respond quickly to signs of changing needs. If companies don’t make the transition
to social media, they run the risk of being overtaken by competitors that have mastered the new era of engagement.
Once a company designs how it will engage with customers, it needs the organizational capabilities to deliver:
adding staff, building a social-media network infrastructure, retooling customer care operations, or altering reporting
structures. Functions far removed from marketing often have important roles to play, so one or more marketing
teams at the center may have to build skills in other parts of a company.
To truly understand how to engage your community you have to listen. In large communities, it is difficult to
respond to every person, but if you pay close attention you will notice the trends and changes in the reactions
from your social media customers and fans. We’re entering the age where social media and creativity will play an
important role. You can’t just succeed by being there – you need to stand out from the ever increasing crowd.