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Social Media Marketing Industry Report 2013

Social media marketing is changing the way businesses operate and is enabling marketers to become more proficient at their jobs. It is providing new insight into effective marketing strategies via data on consumer demographic, activity and purchasing patterns. Social media is also leading to the creation of new, non-traditional retail avenues online.

Social media helps marketers become more effective at their jobs. Research shows that social media produces almost double the number of leads in comparison to marketing channels like direct mail, trade shows, telemarketing, and pay per click advertising. It also has a 13% higher lead conversion rate. These performance indicators have strengthened the importance of social media marketing in the minds of marketers and businesses.

Social media is critical to lead generation. According to the infographic 74% of marketers now say that social media platforms such as Facebook and Twitter are crucial to their lead generation strategy. The importance of social media has continued to grow over the last 6 months with 21% of marketers saving that social media has become a more importance part of their company’s  marketing practices.

Social media facilitates easier and faster communication between businesses and potential customers. The study shows that companies with over 1,000 Facebook likes or 1,000 twitter followers are likely to generate more sales due to a higher number of visitors to their website each day.

Complaints on social media have a big impact on business. Results presented in the infographic show that 25% of consumers who complain about products on Facebook or Twitter expect a response within an hour. This highlights the downside of the direct communication facilitated by social media. Customers now expect their complaints to be addressed  immediately or their future purchasing decisions will likely be affected. Many companies struggle to respond quickly because they do not have a large customer service department, technology to monitor social media sentiment or adequate training.

Social media increases a company’s sales/client base and has an important impact on buying decisions. According to the infographic 52% of all marketers found a customer via Facebook and 43% found them via LinkedIn. It was also reported that 46% of online users counted on social media to assist in making a purchase.

With the continued growth of social media in 2013 it is more important than ever for companies to continue to invest in developing an intelligent social media strategy, and consistently respond to customers in real-time.

Stateof Social Media Marketing Infographic

Infographic courtesy of Wishpond

Author: Syed Usman Hussain

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I am a final year business management undergraduate student with specializations in marketing research. Over the last 5 years, I have served as an assistant editor/content writer for various university publications and have contributed articles for popular local newspapers. View Profile

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