If you’re still under the impression that social media is a waste of time, think again. 85% of sales managers believe that ignoring social media is actually the waste of time.
According to a recent study conducted by MoreVisibility (a leader in Web 2.o technology), about 85% of sales organizations have implemented a social media program, while 75% of them plan to further their efforts in the upcoming months.
Here are some other interesting findings:
- 98% of businesses focus mainly on Twitter for their social media purposes
- 96% of businesses use Facebook as a second social media source, and
- 74% also use LinkedIn as part of their social media strategy.
Experts believe that social media hasn’t reached its full potential in the business setting. When asked how successful their social media advances had been so far on a scale of 1-5:
- Over 8% rated their initiatives a five, which meant they were seeing an outstanding return.
- 40% rated their program a four
- 39% rated their program a three
- 11% rated their program a two, and
- 2% were completely dissatisfied with social media.
Of those companies that were implementing a social media strategy:
- Over 70% spent less than $5,000 a year on social media marketing advances
- 7.5% spent between $10,000 and $25,000, and
- Only 5% spent more than $100,000 a year.