There was some fascinating research from the US on the usage of social media from hub spot. Apparently the time global consumers spend on social media has grown 250% over the last 2 years. Therefore it does not take a rocket scientist to realise that companies need to engage with consumers on social networks. Unfortunately and it’s a big UNFORTUNATELY that means companies having to engage and maintain engagement with consumers on potentially six social media networks. Then you add in all the marketing effort and resource maintaining activity on other channels such as e-commerce, e-mail, web, direct mail, mobile and you have a major multi channel headache. It’s very much not being able to see the wood for the trees or to paraphrase can't see the true valuable channels for the social media networks. I know it’s heresy, in the age of the social "uber" connected individuals, but surely what matters is engaging with potential customers on the channels that will satisfy your potential customer and generate profitable revenue for you as a business. Yes I know Gartner forecasts global social media revenue will be $29 billion by 2015. That’s all well and good but which of those channels will generate the lions’ share of the $29 billion because it will not be evenly split across each of the channels,that’s for sure.
There’s a famous chart produced by Buddy Media last year which although US centric does prove the point. It shows all the various social media channels, apps, software, platforms, widgets..etc etc. There are over 500 on the chart. See below
It is very easy to get carried away and surf the social media explosion but we must stay focused to ensure it works for our customers,prospects and for our business. Once we lose sight of that we have a very unprofitable company.
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