The Marketing Paradigm has shifted. Nearly all consumers (97%) now use online media when researching products or services. The misconception is that only young people use these technologies but in fact, nearly all of the buying public now use them. Marketing has also shifted from a one-way broadcast to a multi-point conversation. In the past, communications were “broadcast” exclusively through mass marketing channels like radio, TV and newspapers. With social media, however, much of the communication is controlled by the prospects through services like Facebook and Twitter, which have more than 700 million members combined—and YouTube, which gets 300 million visitors a month.
Social media is quickly becoming an important means for companies to reach consumers, and consumers are also quickly changing their expectations about how, when, and where they want to be marketed to.
93% of Americans believe that a company should have a presence on social media sites, and 56% of consumers believe that a company is providing them with a better service by interacting with them on social media sites.
Social media offers relationship-building opportunities that are virtually limitless and, for the most part, they’re free. Through the use of social media, your retail establishment, consulting firm, or service company has access to information, prospects and alliances worldwide. Your advertising opportunities can grow exponentially through the utilization of social media.