It is no secret that social media sites, like Facebook and Twitter, have become incredibly popular over the last five years. A study conducted in 2010 found that people spend roughly 22% of their time online on these types of social networking sites. So it is no surprise that businesses have begun to turn to social media marketing as a way to better promote their company while also increasing their search engine rankings and overall business.
But exactly how much time do these companies spend each week on their social media campaigns and how much are they really benefiting? The 2010 Social Media Marketing Industry Report by Michael Stelzne has the answers.
Of the nearly 1900 marketers surveyed for this study, an overwhelming majority – 91% – indicated that they are currently utilizing social media for marketing purposes. Of these companies, 43% claimed to spend 4-5 hours each week on social media activities, while 56% are using these sites 6 hours or more each week. Of the companies spending 6 hours or more on social media marketing, 30% spend more than 11 hours on social media sites per week and 12.5% devote a remarkable 20 hours each week to social media.
There is a direct correlation to how long companies have been employing social media marketing and their weekly time commitment. For those just beginning with social media, the average weekly commitment was only about one hour per week. However, for those who have been utilizing social media marketing for a few months or longer, the average time commitment jumps up to 10 hours every week. This is undoubtedly because the latter group has realized the benefits that come along with a successful social media campaign.
These benefits include:
• 85% of all marketers indicated that their social media efforts have generated exposure for their businesses.
• Improving web site traffic. More than half of marketers indicated a rise in search engine rankings was a benefit of social media marketing.
• More than half of marketers found social media generated qualified leads
• 73.8% of businesses that have been using social media for years report it has helped them close business deals. Businesses selling to other businesses were more likely to achieve this benefit (51.3%) than those selling to consumers (44.9%).
• 53.1% of people who’ve only invested a few months with social media marketing report new partnerships were gained. Marketers selling to other businesses were more likely to achieve this benefit (60.8%) than those selling to consumers (49.4%).
So if your company is not utilizing social media marketing, you may be falling behind the competition. If you have any questions, contact The Research Group by calling 410-332-0400 or click here today!