22 Aug 2010

Companies Are Satisfied with Their Social Media ROI

Nearly half of the companies who work with social media are satisfied with the ROI. This number, however, is most likely even higher because 43 per cent don't even measure the results. Only 10 per cent are not satisfied with the ROI. This is the result of a report based on 457 marketing executives on social media among 457 American companies from King Fish Media.

The investment in social media will increase next year, the report shows. 75 per cent of the companies say they will increase their spending on social media next year. Of these 35 per cent tie their investment to at specific project or a custom media programme, one third characterize their involvement as a incremental increase to the marketing budget, one in five is funded by moving budget from mainstream media advertising or other parts of the marketing budget and 11 per cent don't know.

Two thirds of the companies promote the company as a whole on Facebook, Twitter and other social media platforms. 41 per cent focus on who work in the company, one fourth promote a specific product and 4 per cent have no clue what they are doing.

Here is a list of which social media platforms companies are currently using which give you a chance to see what your competitiors are doing in the social media landscape.

Linkedin 87%
Twitter 84%
Facebook 78%
Blogs 65%
Youtube 47%
News aggregate site (eg Digg, Stumbleupon) 36%
Bookmarking sites (eg del.icio.us) 34%
My Space 9%
Source: KingFishMedia

Most companies work actively with social media and have a strategy but few have put an add on a social media platform. Less than one in three have advertised on Facebook, Twitter, Linkedin or other. Nearly half are satisfied with the result.

If you are still not out there you can see my blog posts on How to become a Social Media Champion, read that Twenty-two Per Cent of All Time Spent Online Is on Social Media, find out that Social Media Can Increase Profitability and so forth. The list goes on. You get a cup of coffee and digg in.
 
What are your plans for next year? Are you going to spend more of your marketing budget on social media?

Get the report on King Fish Media.

19 Aug 2010

Women Want to be Online - All the Time

Are you online all the time? Do you turn off your phone during the night? Many women in the ages 18 to 34 don't turn their phone off during the night and more than a one in three women using social media have fallen asleep with their smartphone or PDA in their hand, research from Oxygen Media Insights Group shows. Many young women are in close contact with family, friends and most likely work 24/7.

We know that many people are hyperconnected and like to explore the internet and social media site like Facebook, Twitter, Foursquare and so on. People are out there waiting to get involved in your site around the clock and to become a fan of your Facebook page and check-in on your location via Foursquare. You might ask yourself what are you offering. If your answer is nothing, you might sit down a get a brainstorm going. Because social media can increase profitability, this cannot be ignored. So invite the customer to participate in your brand and sell more.

Are you always online? Do you turn your phone off during the night?

14 Aug 2010

Women Are the Kings of Online Shopping

This might seem a little sexist but I hope you will forgive me, because it's now a fact: Women do shop more online than men. According to ComScore are 61.2 per cent of all online transactions are made by women despite accounting for less than half of the Internet users in the US.

Women's online shopping carts usually contain less valuable products than men's but women make more purchases online than men. All in all women account for 58.2 per cent of the total spend online.

Internet users
Online buyers
Transactions made
Dollars spent
Female: 49.8% Female: 57.9% Female: 62.2% Female: 58,2%
Male: 50.2% Male: 42.1% Male: 38,9% Male: 41.8%
Source: Comscore


Not surprisingly women dominate the online market for fashion and jewelry, toys, housewares, books and other entertainment but, quite surprisingly, they also dominate video games.

Taking a wider perspective women spend 20 per cent more time on retail sites than men and they dominate most categories. Men only dominate computer hardware and software, consumer electronics, sporting goods and music.

There is also a difference in shopping behaviour. Women are more likely to choose a multichannel retailer whereas men tend to stick with online retailers. On social shopping sites, group buying sites and limited-time sale sites women are most likely to be customers.

These are the facts. But don't stop there use this knowledge. If you have a shopping site you might have more female visitors than you think regardless of the range of products you are offering. Even if you sell video games. No, don't make it all pink, women don't want that. Does your site appeal to women?

Find out more on women online behaviour on www.comscore.com.

3 Aug 2010

Facebook and Twitter Hit a Milestone

On this blog I have advocated the use of Facebook and Twitter. I have helped you on How to become a Social Media Champion, told you how Social Media Can Increase Profitability and have shown you 5 Pittfalls of Social Media and How to Avoid Them. You might have ignored these blogpost but if you weren't convinced before these numbers might.

Late July Facebook announced that the social media phenomenon has 500.000.000 user. Yes, some might have more that one profile but still the number can't be ignored. In other words one in every 14 person in the world is on Facebook. Shortly after Twitter also had interesting news. Message no. 20.000.000.000 was uploaded the same month as Facebook celebrated its milestone. The social media where people only have 140 characters to tweet their message is continuously gaining popularity worldwide. The service was four years to reach 10 billion messages - which happened in March - but then less than five months to double the number.

Still in doubt? You can still get on Facebook and Twitter it's not too late but it's about time. People are waiting to hear from you.