Here is some great and important information about the tangible benefits social media offers many small businesses out there. Savvy businesses ranging from big to small size already realize how to turn the power of social media into real sales.
Here are some stats cited from JeffBullas’s Blog- one of our favorite bloggers:
1. 300,000 businesses have a presence on Facebook
2. Gary Vaynerchuk grew his family wine business from $4 Million to $50 Million using Social Media
3. He found $15,000 in direct mail generated 200 new customers
4. $7,500 Billboard provided 300 new customers
5. $0 on Twitter produced 1,800 new customers (well.. someone had to spend some time “Twittering” it’s not exactly $0, because time costs but hey.. it wasn’t much in dollar terms)
6. Wetpaint/Altimeter found companies widely engaged in social media surpass their peers in both revenues and profits (Companies with highest levels of social media plus18% in sales, Company sales with least social media activity minus 6 %
7. Lenovo saw 20% reductions in call centre activity as customers go to a community (Social Media) website
8. Burger King’s ”Facebook Application investment of $50,000 received greater than $400,000 in PR media value (32 Million free media impressions, that's like reaching the combined populations of 19 States of the USA
9. Blendtec increased sales by 400% with “Will It Blend” YouTube videos
10. Dell sold $3,000,000 of computers on Twitter
11. Only 18% of traditional TV campaigns generate a positive ROI
12. “You can’t just say it. You have to get the people to say it to each other” – James Farley Chief Marketing Officer - Ford
13. 37% of Generation Y were aware of the the Ford Fiesta via social media before its launch in the USA
14. 25% of Fords marketing spend is on Digital/Social Media
15. They are the only US Auto company not to take a government loan
16. Naked Pizza set a one day sales record using social media (68% of sales from Twitter and 85% of new customers from Twitter)
17. VW goes 100% mobile for launch of GTI
18. “Social Media is not only for B2C”
19. Intuit introduced “Live Community” into their Turbo Tax products 2 years ago – Unit sales up +30% each year
20. Software company Genius.com reports 24% of social media leads convert to sales
21. Barak Obama – 5 million fans on Social Media – 5.4 million clicked on a “I voted for Obama Facebook Button” – 3 million online donors equals $500 million – 92% of donations were in increments of less than $100
22. University of Texas MD Anderson Cancer Centre saw a 9.5% increase in registrations using social media
23. Web Host Provider “Moonfruit” with a $15,000 social media investment saw their website traffic increase 300% and sales 20% as well as being on Google’s first page for “free website builder”
24. eBay found participants in online communities spend 54% more $’s
25. Customer support cost is $12 via the contact center vs 25 cents via self-service
26. “Why are we trying to measure Social media like a traditional channel anyway? Social Media touches every facet of business and is more an extension of good business ethics” – Anonymous
27. ”You can’t buy attention anymore. Having a huge budget doesn’t mean anything in Social Media… the old paradigm was “Pay to Play”. Now you get back what you authentically put in. You have to be willing to “Play to Play” – Alex Bogusky, Co-Chairman, CP& B
28. @llonlineblogera “ When I’m asked about the ROI of Social Media sometimes an appropriate response is … what’s the ROI of your phone?”
29. 71% plan to increase investments in Social media by an average of 40% because: You get “Low Cost Marketing” and “Get Traction” and we have to do it!
The Cost of doing nothing is greater than the cost of doing something. If you are not sure how to get started with social media, that's OK. We are here to help you. Take the first step and visit our site to understand more about social media. And then fill out the form and contact us for a free consultation.
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