Social media marketing is a new trend of marketing where different Businesses have taken to social media sites to market and promote old and existing products and brands or create more awareness of their new products. Facebook and Twitter are the two most well known sites where firms market and promote themselves. Over one billion users worldwide use both sites everyday; from averages Joe’s to famous celebrities. Such is the power of each social media site that one post can make or break you. Forbes estimated that in 2011, Facebook and its founder Mark Zuckerberg were worth an estimated 50 billion dollars as a result of its growing popularity.
Make the most of it. Pinterest It took a while for Pinterest to enter the scene of social media marketing. But they are one of the few social channels to boast a whopping 100 million active accounts. With their new search engine, Pinterest is all about search with pictures, not words. There are already 130 million visual searches on Pinterest every month, with furniture, home decor and style ideas being the most popular things people are searching BuzzFeed a news and entertainment website used Pinterest to find the hot current trends and get ideas for stories.
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Twitter was created in March 2006 and in July 2006 the Twitter website was launched. The service grew worldwide popularity in a short amount of time; it had 500 million registered users in 2012, who posted 340 million tweets per day. The service also handled 1.6 billion search words per day. Twitter is now one of the ten most ever visited websites, and it’s been described as "the SMS of the Internet." It’s one of the most successful start-up companies of all time by market capitalization, revenue, growth and cultural impact.
Look past the posters in social media sites as LinkedIn and Facebook, there is a craze developing and corporations are finding themselves more so operating with social links for routine business. Many businesses are using social networks for problem resolving matters, to initiate response of feedback, distribute info sooner, and for results of new concepts for the business, also to adjust the background inside the corporation. Recently quoted by Marc Benioff, the chief executive of salesforce.com “At a very basic level, Facebook is the most popular application ever, with a billion people who know how to use it” (Mullaney). Although, many large companies were primarily sluggish to clasp Social Media they’ve since done so in many key ways. According to a survey by McKinsey & Co.
(“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).
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People have garnered full time careers due to twitter, and “social media manager” is now a job position. A hack on the Associated earlier this year about President Obama caused the stocks to fall “134 billion in value almost instantly” (“Twitter”).With an overriding presence in our digital world, people sometimes forget the power of twitter. Works Cited Twitter. (2013, July 12). Wikipedia.
(02/16/2013). Best Buy to Renew Policy Matching Online Prices. The Wall Street Journal. Retrieved from http://online.wsj.com/article/BT-CO-20130216-701026.html Webb, J. (2012).
 Newretailblog.com. Social Media Case Study – Best Buy’s Twelpforce | New Retail Blog. [Online] Available from: http://www.newretailblog.com/social-media-case-study-best-buys-twelpforce/ [Accessed 12 Dec 2013].  Acker O, Grone F, Yazbek R, Akkad F. Social CRM How Companies Can Link into the Social Web of Consumers. [PDF] booz&co.