The marketing landscape is changing. Old methods are becoming less effective. Advertising standbys such as the Yellow Pages, newspapers, radio, and television are losing their audiences. When people look for a business these days, they now go to the Internet. They get much of their entertainment from the Internet as well. They are spending much of their time on social media sites with Facebook and Twitter being the most used. Businesses are increasingly saying that these sites are an important part of their marketing strategy. A significant 90% of marketers indicate that social media is important for their business. Even with a minimal time investment, the vast majority of marketers (81% or higher) indicated their social media efforts increased exposure for their business. Nearly two-thirds of surveyed marketers indicated a rise in search engine rankings was a benefit of social media marketing. As search engine rankings improve, so will business exposure and lead generation efforts, and overall marketing expenses will decrease. The cost of a lead originating from a social media site is less expensive than those coming from traditional sources. The main financial cost of social media marketing is the time it takes to gain success. However, a significant percentage of those surveyed strongly agreed that overall marketing costs dropped when social media marketing was implemented. Participating in blogging and social media sites allows businesses to develop relationships with their customers. These relationships can develop trust and loyalty in the customers. People hate to be sold to, but they love to buy from a trusted friend or advisor. Social media can help create that kind of relationship with customers.
Facts cited in this post are from the 2011 SOCIAL MEDIA MARKETING INDUSTRY REPORT.