The Potential Social Media Offers to Businesses

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Today: Social networks are ubiquitous. It is projected that there are more social network accounts than there are people on the planet. They are one of the primary means of communications. We use them to stay connected with friends and family, as well as to stay informed on local and world news events. As an important note, when you consider the utilization of these social media sites, it doesn’t take long to realize the potential exposure that a business could have, if it chooses to leverage it. The social networking evolution has introduced a completely new sales and marketing channel. The impacts and the revenue generated from this industry will be a key focus of this report. Competitors and Their Market Share Depending on who conducted the survey and the framework of the questions, the rankings for the top 15 most popular social networking sites varies significantly. With the exception, that Facebook is far and away the #1 most popular. And Twitter consistently represents the #2 ranked site. eBizMBA’s most current study, as of April 1, 2014, shows the top 5 rankings as follows: 1 – Facebook with 900,000,000 – Estimated Unique Monthly Visitors 2 – Twitter with 310,000,000 – Estimated Unique Monthly Visitors 3 – LinkedIn with 250,000,000 – Estimated Unique Monthly Visitors 4 – Pinterest with 150,000,000 – Estimated Unique Monthly Visitors 5 – Google Plus+ with 120,000,000 – Estimated Unique Monthly Visitors One would have to assume that marketers would focus efforts on driving revenues from the most popular sites; however, there are additional factors that must be considered. For example, does the consumer of the site align with the typical market consumer? It wouldn’t make sense to market on a popular site... ... middle of paper ... ...sual.ly/social-media-market-share-2013 • http://www.ebizmba.com/articles/social-networking-websites • http://en.wikipedia.org/wiki/Twitter • https://blog.twitter.com/2013/vine-a-new-way-to-share-video • http://bits.blogs.nytimes.com/2014/03/20/twitter-rolls-out-easier-faster-video-playback/?_php=true&_type=blogs&_r=0 • http://www.sramanamitra.com/2014/02/11/twitters-strategy-for-addressing-slowing-user-growth/ • http://www.cnbc.com/id/101175790 • http://a16z.com/2014/02/25/future-of-news-business/ • http://techcrunch.com/2013/09/14/twitter-co-founder-evan-williams-lays-out-his-vision-for-medium/ • https://twitter.com/ • http://en.wikipedia.org/wiki/Twitter • http://www.bloomberg.com/news/2014-04-29/twitter-user-growth-slows-as-mobile-chat-competitors-gain-steam.html • http://allthingsd.com/20131216/twitter-promoted-account-ads-for-mobile-go-mainstream/
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