Effectiveness of Social Media in Business

The way people socially interact these days has changed.  Today it’s not uncommon to meet someone new, and go home and become Facebook friends.  Then, later, you and your new friend make plans through Facebook to meet up; text each other about what time you’re meeting; and then Twitter about the night while you're out, or post pictures to Facebook using “mobile upload” (a feature now standard on most smartphones).  

There are an estimated 1 billion Facebook and Twitter accounts, each account connected to multiple others.  With a steep user adoption rate of social media platforms (and growing every month) it means it will only be a matter of time before we’re all connected and collaborating.

If this makes your head spin, here are some facts about social media:

LinkedIn

·         Monthly U.S. users:  43.2 million

·         Monthly global users:  103.2 million

·         120 million registered users in more than 200 countries

·         Stats about age, demographic, and traffic: http://www.quantcast.com/linkedin.com

Twitter

·         Estimated 68.6 million monthly number of tweets/check-ins

·         http://www.quantcast.com/twitter.com

Facebook

·         Monthly U.S. users:  142.9 million

·         http://www.quantcast.com/facebook.com

If you think about how this will impact business in the future, think about this: When the older generations of employees retire, new graduates will take their place, and the way business is done will change.  We don't know how, but it surely will. You may be old school, preferring the face-to-face, press-the-flesh-type networking (and - don’t get me wrong - I still think nothing beats that), but you have to be open to the “new school” way of social networking, too.  Things will change.

There’s a saying that “if you’re not online, you don’t exist”.  What’s the first thing we do when we’re searching for information?  We Google it (Google has become a common verb, by the way).  If it’s not on Google, we question its very existence. Today, in business, you need to be on LinkedIn.  In your personal life, you have to have a Facebook page.  And Twitter is quickly becoming the new way to get information out quickly to your “followers”, since Twitter provides an instant connection to your customers.

When a brand or company engages with its customers with the transparency granted by social media, consumers experience a feeling of trust and connection.  They get immediate answers, and feel they are being heard.  This one-to-one connection is what makes social networking effective, with the added benefit of valuable feedback and flexibility.

Social media is often dismissed as a fleeting trend, but it’s the future of how networking will be done, both personally and professionally.  It’s hard to keep up with the constant innovation, and be an expert in social media when it changes virtually every day.  And it will continue to.  But the best thing to do is keep your mind open, your eyes to the future, and your smartphone handy.

-By Cynthia Bouvier