If you’re thinking about including social media into your marketing plan, here are some great trend reports and statistics to put that thought into action. Finding the time and dollars to allocate to social media marketing is on the tip of every marketing executives tongue. One reason is that social media is trending and is not just a trend. The digital age is evolving and we are finding that we can reach out and touch someone through being a friend on Facebook, linking to them on LinkedIn or posting a blog for them read at their convenience. Through these social media networks, businesses have found a new way to communicate with their target markets to grow their business. Check out how social media is currently trending and the stats that back it up.

Social Media Marketing Is On The Rise

“The State of Small Business Report”, by Network Solutions, LLC and the University of Maryland’s Robert H. Smith School of Business, showed that the downed economy has contributed to the popularity of social media networks.  The study reported that:

• Small businesses increased their use of social media from 12% to 24% in the last year.
• An estimated 1 out of 5 small businesses are involved in using social media as a part of their marketing strategy.

How Businesses Use Social Media

Small businesses reported the following:

• 75% have a company page listed on a social networking site.
• 69% post updates or articles on social media sites .
• 57% build out a professional  network through a site like LinkedIn.
• 54% closely observe the feedback they receive about their business.
• 39% have set up and maintain a blog.
• 26% tweet about their area of expertise.
• 16% use Twitter as a service channel.

Social Media  Expectations

The report showed  businesses who have worked with social media as part of their marketing plan had mixed reviews on how it met their expectations.

• 58% felt that social media had met their expectations.
• 25% felt that social media had fallen short of what they had hoped for.
• 12% reported that social media network sites had exceeded their expectations.

For businesses that reported social media had fallen short of their expectations:

• 50% said that social media had used more time than they had expected.
• 19% thought social media had lost them money.
• 17% felt that social media networks allowed people/customers to criticize their business.

Messages Sent Through Social Media

eMarketer showed that social media marketing does not choke innovation out of existence. Instead some of the most successful small businesses are able to compete by offering superior services. The small business model has embraced social media as a means to keep themselves tied to their customers. Businesses felt that they could engage their audiences through social media. They also reported to use social media to tap into knowledgeable resources.  

How Social Media Budgets Will Rise

Over the last several months marketing professionals have been found to be leaning towards the importance of creating a budget for social media marketing. Duke University’s Fuqua School of Business and the American Marketing Association, “The CMO Survey” reported that social media marketing budgets are on the rise. The report showed that businesses currently budget 6% of their marketing dollars to social media. They expect this amount to increase 10% in the next year and 18% over the course of the next 5 years.

In August 2009 marketing professionals had also been found to have planned to incorporate a higher budget dedicated to social media marketing efforts. In February 2010, those marketers had reported that they would be budgeting one-fifth of their dollars to social media marketing over the next 5 years.  Current social media marketing budget trends are:

• August 2009: 3.5% budget allowance was spent on social media marketing.
• February 2010: Social media marketing budgets had risen to 5.6% .

Social Media The Big Buzz

According to the Marketing Executives Networking Group and Anderson Analytics, their report entitled “Marketing Trends 2010″ found that mastering social media was high on the priority list for marketing professionals. The number one  buzzword to keep on the tip of the tongue in 2010 was Marketing ROI —rate of return on marketing efforts.

• 58% of marketing executives thought social media was a trend to keep an eye on.
• 42% of marketing professionals chose social media as a top trend to watch which made social media marketing hit the list of the top 10 productive marketing initiatives.
• 72% of professionals in marketing reported that they work with companies that have planned a social media marketing program for 2010.  

Social Media - Who Is Using It & How

The study by Anderson Analytics also showed the differences on how social media marketing was being used. Individuals and professionals were found to use social media networking sites like Facebook and LinkedIn. Companies were found to utilize the blog as their main social media tool.

The Anderson Analytics study also reported that social media marketing plans were handed to internal employees, social media consultants and interactive agencies. Marketing professionals that were in charge of carrying out social media initiatives were not found to be looking to PR or ad agencies to head their social media campaigns.

So if your business is working to plan a social media marketing program, feel confident that you are not diving into a trend that will disappear any time soon. Many studies have been performed to analyze the worth of social media marketing and have found that businesses all over are planning to incorporate social media into their marketing budgets. Reaching out to your customers, target marketed and creating an open line of communication through social media is here to stay.

The foundation of successful companies has always been to become a reliable source for their customers.  Long standing businesses look to become a resource in which customers can count on and communicate with. Social media networking allows a business the open line they need to communicate the message that their customers need to hear—you can count on us and you can rely on us. A message that can now be broadcast through social media networks 24 hours a day, 365 days a year— which is more than a stamped postcard can offer.

The world of traditional marketing is ever-changing and as it leans into the digital online world, we encourage you to dig your business heels in and enjoy planning your social media efforts!

We welcome new ideas and you might inspire us for our next blog post! Share your thoughts and tips by posting comments for us. Thanks for reading!

By Sara Hassler

Enjoy the value of Facebook and build your business by creating a Facebook business page. By having a Facebook business page you can increase your online presence and gain even more exposure by; including  your Facebook page link in your email signature, posting your link on your business website and adding it to your print and advertising materials. Facebook can be an excellent and valuable business tool if used properly. Check out the research and stats below to find out just how powerful Facebook is in the world of social media networks.

Recent studies performed by Edison Research showed:

• 48% of Americans, over the age of 12, had a profile page set up on a social network site.
• 30% of those same individuals logged on to their social network page multiple times each day.

The statistics from  Facebook are astounding:

• There are more than 400 million active users.
• The average user has an estimated 130 friends.
• People are found to be spending over 500 billion minutes per month on Facebook.

Use Facebook to Build Your Business

In order to use Facebook so it benefits your business you can incorporate these ideas:

• Choose a keyword name that will improve your search engine ranking. Try matching your Facebook name to your business name so folks can find you online in cyberspace and on Facebook under the same name.

• Work on creating a comment posting schedule that fits into your work schedule. Posting  on a regular basis can help others get to know you and your business. It will also increase your chances of gaining followers.

• Ask you Facebook friends to interact with others on your page. You can do this by posing questions to spark conversation. The idea is to create a conversation that encourages multiple replies.

• If friends post on your page, respond to their comments as often as possible. This will let them know your available.

• Text is great for getting things started, but make a concentrated effort to share photos and videos so your Facebook business page is interesting and stimulating.

The Importance of Maintaining a Business Website & Blog

Once your business is set up on Facebook with a custom page, turn your efforts to expanding your online presence with a solid foundation like a website and blog. Many businesses wonder why they should spend the time in creating a business blog when a Facebook business page appears to be more interactive. The answer is that you don’t own your Facebook page. You are using Facebook as a place to simply interact and connect with others. They key to using Facebook is to make it beneficial to building your business and that is done by driving your Facebook friends to your own website and or blog.

Think of your website as a central hub for your business and your blog as your social outreach for your marketing and public relations. Since you own your website and your blog, it’s yours. You have complete control of the changes, the longevity and the future of your site and blog. On Facebook, you don’t own your page and any content created on your Facebook page could disappear if Facebook vanished.

Be in Control of Your Destiny

Choose to be self-reliant and maximize the time you invest on your social network pages by creating a strong central business homepage, website and up-to-date well- managed blog. Brand your business by creating an internet storefront. Your store can be filled with creative content that describes your business mission, goals , products and services. At the end of the day, your cyber shop will also be in place for as long you own your business!

We welcome new ideas and you might inspire us for our next blog post! Share your thoughts and tips by posting comments for us. Thanks for reading!

By Sara Hassler