Friday, September 18, 2015

Why using social media makes business sense


Now is the time to build your business case for using social in your organization, if you’re not already. If you have time to do an audit of your competition’s social presence as well as for your clients/customers you will have a great basis to start your business case. After all, if you’re competitors are on social and your customers are on social, chances are your competitors are reaching out to your customers on social. If you’re not on social, you’re not even part of the conversation.

Here are some helpful statistics I’ve gathered to make the case for social business.
[You may also be interested in my presentation on how to create a social media strategy http://www.slideshare.net/cathcontact/social-business-strategy-52941478]

Social is part of the digital experience


*       Over 70% of B2B decision makers use social media as a source of information

*       68% of users spend time reading about brands that interest them

*       60% of people are inspired to seek out a product after reading about it

*       53% of people on Twitter recommend companies and products

*       65% of social media users learn more about brands, products or services

*       53% compliment brands

*       50% express complaints or concerns about brands or services

*       64% of consumers made a first purchase because of a digital experience

An alternate approach to traditional marketing is needed


*       78% of consumers say that the posts made by companies on social media influence their purchases.  

*       81% of people say that posts by their friends on social media influence their purchases.

*       63% of marketers believe traditional branding methods are losing their effectiveness

*       70% of people would rather learn about companies through an article than an advert

*       72% of consumers trust online reviews as much as personal recommendations. 

*       Consumers indicate they expect brands to be available in an average of 3.5 social media channels,

*       around 80% of consumers expect brands to be present on Facebook.

*       Consumers expect brands to engage on consumers' terms

*       62% of Millennials say that if a brand engages with them on social networks, they are more likely to become a loyal customer.

*       nearly 50% of people have used social media to praise or complain about a brand in the past month.

Social is being used to support sales


*       96% of respondents in a Sales Management Association study use LinkedIn at least once a week and spend an average of six hours per week on it

*       73% of respondents in a Forrester study have engaged with a vendor on social networks;

*       relevant context to connect with vendors is one of the top reasons buyers use social networks for business

*       52% more leads were generated when marketers spent 6+ hours a week engaging on social media

*       85% of IT decision makers use at least one social network for business

*       60%-70% of the buying process in a complex sale is already complete before  prospects are willing to engage with a live salesperson

*       95% of B2B buyers prefer shorter content formats

Social media is part of business


*       96% of survey participants indicated they are participating in social media marketing

*       92% said social media was important to their business

*       84% of marketers agreed that they have integrated their social media and traditional marketing activities

*       66% of marketers plan on increasing use of Twitter, YT and LI

*       93% of marketers are using Facebook and 62% plan on increasing FB activities

*       57% of marketers use video in their marketing

 
Sources:

 

 
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