How to increase business with Social Media Marketing Did you know more than 92% of small business owners strongly agree to the importance of social media marketing for business? Or that social media marketing has a 100% higher lead-to-close rate than outbound marketing? According to Marketing Guru Neil Patel- “Social media is the fastest growing trend in the history of the world.” What is social media marketing? As per Wikipedia “Social media marketing is the process of gaining website traffic or attention through social media sites.” However, Neil Patel again defines it appropriately Regardless of the industry, you serve, investing in social media marketing will help your organization grow. Not only in terms of dollar-dollar bills
(“Google buys YouTube for $1.65bn”, 2006) and another the most recent example is “LinkedIn earned $15.4 million in 2010 on net revenue of $243 million” (Bestgrowthstock, 2011, para. 15). The main reason behind the success of SNSs is because of the number of people that are utilising it; and that is what all companies are looking for. In 2009 Facebook was growing at a rate of 6000 user per day. “At that rate if Facebook were a country than it would be the 6th most populous in the world” (Smith, 2009).
Facebook has striking growth rate in the number of the users and the revenue. It mainly depends on the powerful Internet to build the large relationship network among friends. The increased mobile usage is the key contributor of the growth in the overall user base. Its daily active users has reached 483 million worldwide until the December 2011. The market value of the Facebook is about $15 billion based on its share sold to the Microsoft.
Social Media is any form of Internet communication where users can create online communities, share information, ideas, personal messages, and other content (Social). Social media has been one of the fastest growing online segments with 86% of people ages 18-29 using some form of social media in 2011 (Henrikson). The popularity of social media websites is only more impressive when shown the raw facts behind it. More than 600 million people were registered Facebook users at the end of 2010, over 25 billion tweets were sent in 2010, and 2 billion videos are watched per day on Youtube (Royal). Since the creation of the Internet, businesses have used it as an outlet to advertise increasing customers and revenue, but with the creation and popularity of social media websites, the ways companies advertise online changed.
Besides the elite list of celebrities and famous companies such as Google or The New York Times using social media sites as an outlet to gain customers, one of the main reasons it is so successful is its worldwide and global appeal. People from first and third world countries are aware of it, and statistics show that one in every nine people on Earth is on Facebook, and Twitter is adding up to 500,000 users each day. Search engine giant Google, perhaps the most famous name on the internet has started their own social networking experiment, Google+, which experts have predicted will also become a powerhouse. Everything now a day is marketed, from the water we drink, the food we eat and the clothes we wear. Marketing not only establishes brand recognitio... ... middle of paper ... ...eshare.net/HorizonWatching/social-media-101-social-media-disasters.
According to the (GSMA, 2014) report mentioned that, at the end of the 2003 there were more than 1billion individual subscribers, that means under one in six people had subscribed to a mobile service . By the end of the 2013 the number of mobile phone subscribers has doubled, there were 6.8 billion mobile cellular subscriptions in 2013 it is nearly world population 7.1 billion. Furthermore (GSMA, 2014) report mentioned that in 2020 there will be 9.2 billion mobile cellular subscribers in the world. With the fast growth and the rapid development of the cellular phones, the communication technology transform to new era of mobile Internet. According to the (Raychaudhuri & Mandayam, 2012) the mobile Internet represents the “second wave of the wireless revolution which started with the remarkable adoption of cellular phones”.
They also found that brand trust has a fully mediating role in converting the effects of enhanced relationships in brand community to brand loyalty. ( Laroche, M., et al, 2012) Facebook alone, a hallmark of social media, has over 1 billion active users, who log on at least once every 30 days. Half of these active users actually log on every day. On average, consumers devote almost one third of their time to consumption of online social media (Lang, 2010). Social Media was thought to escalate retail sales.
No matter what your target demographic is, through social media it is achievable there is a broad range of ages using these sites. The middle age community is the largest growing group of users 55% of them is on at least on social media platform (Pick, 2013, para.5). Business will get the best results of advertising through using many different social media outlets to reach all different demographics and ages. 1.1 Rationale to use a different social media A) Facebook Facebook is the largest Social Media tool available to business today. Currently Facebook has 1,310,000,000 active monthly users ("Facebook Statistics | Statistic Brain", 2014, para.
Puente also said the Internet?s trend will increase over 50% a year, and in a short while, Internet shopping will reach half of the shopping population (2E). The Internet is the answer for all of our shopping needs. It will provide a boost for our economy and continue to grow with our humanity. Sean Kaldor, the vice president of analytic services at NetRatings Inc. said, ?Two years ago was the attack of the ?dotcoms? ; last year was the revenge of the brick-an-mortars; this year is the year of the economy (Vogelstein 1bw).
11,156,995 Terabytes/month in 2017, equal to 30,746 million text messages/second. 2.8 times faster than Global fixed IP traffic from 2012 to 2017 Cisco anticipates that “Global Mobile Data Traffic in 2017 will be equivalent to 771x the volume of Global mobile traffic ten years earlier (in 2007)”. The consumers’ attention is now distributed over a wider area. These trends offer incredible opportunities for companies with the right business model. Conversely, the organization has to regain situational awareness if the trends are outside the scope of the business model.