Once Ignored, Social Media is Fast Becoming a Major Priority
Once Ignored, Social Media is Fast Becoming a Major Priority
Lets face it you just cannot ignore social media any more. Latest studies show that as much as 64% of retailers have invested in social networking and social media. Another 22% are planning to join in the next 12 months. 30.5% of retailers believe that social media strategies will give better ROI in 2009 than paid SEO and other advertising methods.
Social networking has surely gone mainstream and there is a huge migration happening right now amongst businesses. Major brands like Dell, Starbucks, SeaWorld, Dunkin' Donuts, Huggies, to Cadbury are migrating to social media marketing. Dell computers increased their online sales by 3 million dollars by just having a Twitter account. Though the company turned over 61 billion dollars, an additional 3 million dollars adds up to the bottom line for even Dell computers.
Social media is here to stay and impact every area of business life. It is an ideal platform to connect your business closely with customers because of its participatory characteristics. Internet has overcome all limitations of boundaries and borders and today online consumers are spending more time on social networking sites than on e-mail sites. Recent studies indicate that time spent on social sites has doubled.
On Oprah show Mark Zuckerbert founder of Facebook confirmed the site attracts one million user sign ups daily. I have been asked about ROI. Well as a savvy entrepreneur or a retailer you will get best ROI where people are spending most of their time.
The key is relationship building and value adding. You can build a powerful brand on Twitter and Facebook as long as you engage your audience and have the capability to build a virtual community around your brand. Once you can achieve this, your message can be delivered to your consumers far more effectively than SEO, SEM, mass e-mail campaigns and other costly methods of advertising.
To be effective and successful with social media, retailers and business owners must have knowledge how to leverage this new, emerging trend as an innovative marketing medium different from anything that's come before in our human history of commerce.
There are many aspects of the social media phenomenon and your success lies in the secret of learning and keeping up to date with the changing landscape of social media. Today there are the magic 4 sites you can optimize
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