State of the Union in Social Media

The 2010 Social Media Marketing Industry Report by Michael Stelzner of Social Media Examiner was released a couple of weeks ago. Stelzner interviewed 1,356 marketing professionals in order to understand how marketers are using social media to grow and promote their businesses. It confirms what many of us working in social media already knew, but also contained several surprises. 

A staggering 91% of the marketers surveyed say they are using social media for marketing purposes. That’s much higher than I think most people would have predicted. Sure, social media is hot right now, but many companies are reluctant to get started even if they feel they should. The common perception is that more B2C companies are using social media than B2B companies. It turns out that 79.5% of B2B companies use social media, with only 68.7% of their B2C counterparts on the bandwagon.

The majority of marketers are using social media 6 hours or more a week. This shows a growing number of businesses are investing their time in social media – and with great results. Over 73% of marketers using social media for over a year reported that it helped them close business, which is an increase of 12% over 2009. 

Additionally, businesses using social media saw the following results:

• An increase in their search engine rankings
• Greater exposure for their business
• Created new partnerships
• Generated qualified leads
• Reduced overall marketing expenses
• Increased website traffic

Naturally Twitter, Facebook and LinkedIn are the most used social media tools. Look to blogs and YouTube to make big strides in the coming year as many of the marketers surveyed planned to increase their usage. But the tools they really want to know more about are social bookmarking sites (i.e.; Delicious) and smartphone marketing. 

Social media is quickly becoming a marketing staple, which means your customers will be less and less forgiving if you don’t have a presence there, and potential customers may miss you altogether. If you aren’t developing a social media marketing plan this year, it will be harder to catch up. 

In our business, Facebook, Twitter and blogging have been instrumental in helping us make contacts and increase our footprint beyond what a small agency could normally create. But we’re always looking for innovative new ways to connect with people. What social media tools have you found particularly effective?

Stefan Halley is the Digital Project Leader for The Duffy Agency. He loves to talk about social media.

Comments

[Andy @ FirstFound]

I'm surprised by B2C takeup being lower than B2B. For starters, if you're networking B2B on social media sites, you need other businesses to be there!

The youtube point is interesting too. Could we see more TV-style ads for companies on YouTube in the future?

Should be interesting.