More than 75% of U.S. households use social media, according to a mid-2010 report by Nielson Company. And it accounts for more than a fifth of their time online.
Listen to these stats:
- 20% of U.S. adults publish or own a blog.
- 55% have one or more social networking profiles.
- 20% provide advice about movies.
- 18% share their opinions.
In 2011, eMarketer project 147.8 social media users. By 2014, they anticipate 164.9 users. That’s an increase of 17.6%, pretty impressive for a medium that’s so well saturated already.
Is it any wonder marketers are realizing they need to move into the social media market?
Currently the majority of users are 12-34 years old (80% or more). Even so, a significant percentage of older adults are engaged: 65.9% of 35-44 year olds and 56.2% of 45-54 year olds.
By 2014, according to eMarketer’s projections, more than half of the population will be involved in social media, from 12 to 64 years of age.
That may explain why marketers are starting to join the social media buzz.
Alterian’s Eighth Annual Survey, How Engaged Is Your Brand?, suggests businesses are beginning to realize the future of marketing includes social media. And in spite of how intimidated they may feel, they’re at least dipping their toes into the social media waters.
More than a third already use a few social networking tools. Only 30% are engaged enough that management receives regular reports on activity. But 77% of marketers feel their brand is either somewhat at risk or is definitely at risk because they aren’t engaged enough.
The benefits are worth the challenge
Social media is the new kid on the block. While proper etiquette has been established, few people understand how to leverage this medium without breaking the rules. As such, there will likely be a lot of mistakes as marketers find their way.
The biggest challenge is simply wrapping your head around it. Marketers are used to paying for exposure through direct response and advertising. Social media doesn’t work that way.
In social media, your followship is earned. “This means not only delivering value within your own social media activities, but also helping your readers and followers to add value to THEIR activities as well,” says web specialist Nick Usborne.
Social media requires much more give and take than traditional marketing. In order to do it well, we must respect our customers and be willing to spend time getting to know them.
In the long run we’ll reap the benefits. It will be much easier to find the deep benefits of our products and why people remain engaged with our brands. Our marketing won’t be based on the benefits we assume people receive, but the real emotional connection that already exists.
Does it really work?
Advertising is determined effective if it measures well in reach, receptivity, resonance and reaction. Social media has the potential to do all four.
Think about it. If you create an effective campaign that connects with your target, it could easily go viral. That increases receptivity and resonance. It also connects you with people you don’t know yet who are interested in your product or service.
Research has already proven it:
- Ad campaigns can receive a 24% lift in engagement due to organic impressions.
- There’s a strong correlation between social coverage and fan base size.
- Organic exposure through social media (as opposed to homepage ad exposure only) triples ad recall and awareness. (The Nielsen Company)
In short, social media can substantially improve your brand’s impact.
That being the case, in terms of helping people know, like and trust you, it’s worth the learning curve, wouldn’t you say?
Photo By dhester
