How important is Social Media?

The Importance of Social Media for Your Business

Over the last decade social media has turned out to be a leading influence on people of all walks of life. It is through social networks that a person can not only share an opinion, but also learn about someone else’s. Information shared and forwarded through these channels has helped make and break businesses. Research has proven that 87% of online users place more trust on a friend’s recommendation than on the opinion of a critic. This means that getting as many legitimate social media users to approve your product or service is one of the most powerful advertisements you can get.

With social media, the potential to expand your client base is endless. Last year the number of social media users doubled and the figures continue to move in an upward trend. Pinterest alone saw a four digit increase in the number of unique users over the last year. For businesses that have an online presence, this is a chance to multiply the number of potential clients. By adding the use of social plugins you can learn more about what the public likes and get some free advertising from friends of the user.

Social media outlets not only provide the public with a means of talking about their experiences with businesses, but also enable the same businesses to openly respond. This provides an opportunity to turn bad publicity into good publicity. There is nothing as awful as having your name tarnished privately. Knowing what is happening helps give you a fighting chance against naysayers. With more than half of internet users registered on some sort of social network, chances are how handle the situation will be a big topic.

Social networks have turned the term viral into more than just the potential to get sick. It can take mere minutes for thousands of online users across the world to have the subject of your business on their fingertips. Given this, it is vital that businesses not only cultivate their own online image, but also keep a keen eye on discussions about them. Depending on the size of the business, it is important to have someone regularly check on this situation. Tools like Google alerts are great for monitoring online public opinion.

Despite the ever-growing number of people engaged in one or more of the social networks, some business owners are still asking - How important is Social Media for my business?

Recent statistics show a staggering amount of activity on all social networks, for example…

In just 20 minutes on Facebook there are:

  • 1     Million Links Shared
  • 1.5 Million Event Invites
  • 1.3 Million Tagged Pictures
  • 1.8 Million Status Updates
  • 2 Million Friend Requests Accepted
  • 2.7 Million Photos Uploaded

….THAT’S ALL IN 20 MINUTES…

Whether you are a budding online entrepreneur or you still prefer to use the phonebook, you have to admit, that is a lot of potential customers that your business could be engaging with, getting feedback from and enticing with your offers and expertise.

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