Social Media: Do you still need convincing?

Amongst the statistics, there are a number that stand out to me:

  • In 2009, traditional advertising has seen a steep decline:
    • Newspaper: -18.7%
    • TV: -10.1%
    • Radio: -11.7%
    • Magazine: -14.8%
  • Consequently, digital advertising has seen an equal incline:
    • Mobile: +18.1%
    • Web: +9.2%
  • More video was uploaded to YouTube in the past 2 months than if CBS, NBC & ABC had been airing new content 24/7/365 since 1948
  • In February ‘08, John McCain raised $11 million for his presidential campaign. The same month, with no fundraisers, Barack Obama raised $55 million using social networking
  • in 2020, mobile devices with be the primary internet connection tool
  • Dell has sold $3,000,000 worth of computers on Twitter
  • 25% of Ford’s marketing is spent on Digital/Social Media

Included, is the claim that Gary Vaynerchuk credits social media for the growth of his family business from $4 million to $50 million. Even further, Vaynerchuk found:

$15,000 in Direct Mail = 200 new customers

$7,500 in Billboard advertising = 3o0 new customers

$0 in Twitter = 1,800 new customers

While there’s little question in the low investment vs high return in proper Social Media marketing, the most important question is “What is the cost of doing NOTHING?”

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