We recently read an interesting article about the literal value of social media (thank you mashable.com) and found the results very interesting. Many people see social media as a mere recreation or form of communication, but we here at the Media Fast understand that social media is an excellent way to improve your business, brand or sales. Let’s take a look at some figures and maybe you’ll agree that social media profiles for businesses make sense.
According to the article in question, global revenues from social media are projected to hit $16.9 billion in 2012, which equates to a 43.1% jump over the previous year. Even rounding that number down to a flat 43%, incomes through social media are up by almost half and there is no evidence to suggest that these numbers will stop increasing. But does this number translate into something that will directly impact individual businesses? We think so.
Let’s break down where all of this revenue comes from first of all. Advertising is the main contributor, providing almost half of the annual expected income. Another 6 or so billion comes from social gaming, and paid subscriptions contributed a large portion too. Obviously large businesses and organizations see the value of using social media, and as a result are willing to pay for ad space. The fact that so much income comes from gaming means that millions of people are turning to social networking sites for recreation purposes, which provides a huge audience that is already in the perfect place to view your product.
In short, you do not have to drive consumers to a website of your choosing, they are already online! All you have to do is create a profile and keep on populating it with interesting content.
These kinds of numbers don’t lie, so take advantage of the free pages and profiles that are available to you or talk to us about corporate social media management.