30 Apr 2010

Social Media Can Increase Profitability

You might have wondered if it contributed to your business but now it's a fact: Social Media can increase your revenue. A study made by Chadwick Martin Bailey (CMB) shows that people who follow a company or brand on social media like Twitter and Facebook are more likely to buy or recommend a product or service from the company. Recommendations are important as I have made a blog post about earlier. The survey from CMB is made among 1.500 Americans shows that:
  • 67 % who are fans of a brand or company on Twitter are more likely to purchase a product or service from the company
  • 51 % who are fans of a brand or company on Facebook are more likely to purchase a product or service from the company
  • 79 % of people who are fans of a brand or company on Twitter are more inclined to recommend the company
  • 60 % who are fans of a brand or company on Facebook are more inclined to recommend the company
Twitter does somehow have a better credibility. Probably because it is more to the point and doesn't, unlike Facebook, have ads and games all over the place. But that needs to be investigated further before we can say anything certain about that.

The winners are the Social Media Champions
The numbers tell the whole story:
  • Social Media is the no. 1 acticity on the Internet
  • If Facebook was a country it would be the world's 4th largest country
  • The world second largest search engine is Youtube
And the list goes on. If we are to believe these numbers the future belongs to the companies who are taking Social Media seriously: The Social Media Champions. If you want to become a Social Media Champion, you can find inspiration in my blog post: How to become a Social Media Champion.

See the press release and download the full report on Chadwick Martin Bradley's homepage.

4 comments:

  1. I agree, Social Media can increase your revenue. If you have a small business and want to promote it on a wide scale, social media can be the best way to do it.This is possible if you promote your business using social media. Social media can be a huge platform to boost your business and can also help you increase the profit of your business.
    online sales

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