Social Media influence

Now a day’s business is growing through social media network. It has set a platform where organizations, brands and individuals are getting good benefits to promoting their business .Social media has become an industry today. Social media is the necessary factor for business and brand marketing without it advertising cycle looks incomplete.

 Companies throughout the world are making increasing use of social media, especially for marketing purpose. Some of the earliest innovators are now taking increasingly integrated and sophisticated approaches to their social media strategies, including more people across the organisation and managing multiple brands across numerous platforms. Many food and drinks firms are attempting to create strategies based on past experience, while others are taking a more cautious wait-and-see approach to social media. At the time of writing, it is believed that almost 21,700 companies worldwide have a Facebook page. According to data from Burson-Marsteller, over 60% of Fortune Global 100 companies had at least one Facebook page as of March 2011. The average number of pages managed by the respective firms increased from 1.2 in 2010 to 4.2 a year later, during which time the average number of 'likes' per Facebook page rose by 115% to almost 40,900 worldwide. Companies are also updating their Facebook pages far more frequently.

Social media networks are playing a vital role within the global advertising industry. As the global online audience has grown, so too has the online advertising industry. This has largely occurred as a result of the widespread belief among businesses that social media networks such as social networking sites offer the chance to engage with customers more closely, through which more targeted advertising and marketing campaigns can be developed. 

In the UK, the online and internet sector overtook TV advertising in terms of advertising expenditure for the first time during 2009. As a result, the UK market for online and internet advertising is now worth more than GBP4bn per year. Google has recently forecast that global online advertising expenditure may reach as high as $200bn by the second half of the current decade, driven by the increasing amount of time spent online by consumers.

One of the world's most developed markets is the US. According to eMarketer, total online advertising expenditure reached $25.8bn in 2010, up by almost 14% from the previous year. This figure is forecast to reach $32.6bn by 2012 (up by over 26% from present levels) and may reach $50bn by 2015.

Source http://www.just-food.com/management-briefing/social-media-influence-on-business-and-driver-of-online-advertising_id115809.aspx

Role of Social Media in Business

Social media refers to web based marketing of any product of services. Now days it is the powerful way to cater or capture the customer. The fastest and best way to enhance your business is to promote your website through social media as Flicker, Face book, MySpace, Twitter, LinkedIn, Google+, Tagged, Yelp, Foursquare, etc. Now Hub pages and Squidoo are also used to create back links of your website in order to put its ranking at highest level. It increases your product market value, profit in less time, less cost. Increase number of visitors without spending huge amount of money.

It’s the best way to advertise your website or product on social media, because at a time many people can see your product’s advertisement here and you can easily come to know about what people talking about your brand in a short span of time, instead of face-to-face communication, advertising your product through different brochures, banners or through any physical media or through spending a huge amount in buying links for updating.

You just have to look upon your targeted audience and their interest, if you want a profitable business on social media. It’s not a difficult task to use social media marketing; you just have to update and active your product in all social media’s.

Small businesses

Feed the Social Media “Beast” and you’ll see it pay dividends.

Not long ago, social media seemed so new and different that it was treated as an appendage of

sorts—a kind of marketing that should be tried only by “experts.”

While that view still exists to some degree today, it’s become clear to many that social media is no

longer marketing’s new thing. It’s now simply part of the way we do marketing today.

I believe that the proper way to view social media from a small-business owner’s point of view is

as more of an evolution than a revolution.

Traditional marketing tactics such as advertising, referrals, and public relations are still very

important, but social media tactics have now become a part of everyday marketing’s fabric and

need to be considered at the strategic level of your marketing decision-making process.

So, rather than asking yourself if you should or should not use Facebook or Twitter, the question

is: “How can Facebook and Twitter help you achieve your marketing objectives?” It’s the same as

asking how direct mail or having two more salespeople might fit into the plans.

From this integrated viewpoint, social media participation can start to make more sense for each

individual marketer’s needs and goals.

Is social media simply today’s hot thing?

Think you can sit the social networking craze out? Consider the following statistics.

According to the online competitive intelligence service Compete.com, social media growth

continues to skyrocket.

• The top three social networks—Facebook, Twitter, and LinkedIn—collectively received

more than 2.5 billion visits in the month of September 2009 alone. Twitter grew by more

than 600% in 2009, while Facebook grew by 210% and LinkedIn by 85%.

• As of this writing, Google and Yahoo are the only websites that receive more daily traffic

than Facebook. Current trends suggest that may not last much longer.

• In fact, if Facebook were a country, it would be the world’s fourth largest.

• The most recent count of blogs being indexed by Technorati currently stands at 133 million.

The same report also revealed that, on average, 900,000 blog posts are created within a

single 24-hour period.

• It’s been reported that YouTube is likely to serve more than 75 billion video streams to

around 375 million unique visitors during 2009.

• The online photo sharing site Flickr now hosts more than 3.6 billion user images.

• The online bookmarking service Delicious has more than 5 million users and more than

150 million unique bookmarked URLs.

So, you see, perhaps this social media thing is going to catch on after all.