Facebook: A waste of time or a commercial opportunity?
In the new age of social media, businesses are taking real advantage of increased use of social networking sites. According to surveys, some businesses in the USA have seen 6000% traffic increase. Social media, although a relatively recent phenomenon, is becoming an increasingly important part of any business’ marketing development. The perception of social media marketing has shifted quickly; having a flexible and well-managed presence in the Social Media universe has become a must for any business. What could once be accomplished by a traditional website now needs to be supported by strong utilization of the social media tools. Here are some quick facts about the role social media is currently playing in the business world from the 2012 Social Media Marketing Industry Report:
- 94% of all businesses with a marketing department used social media as part of their marketing platform
- Almost 60% of marketers are devoting the equivalent of a full work day to social media marketing development and maintenance
- 43% of people aged 20-29 spend more than 10 hours a week on social media sites
- 85% of all businesses that have a dedicated social media platform as part of their marketing strategy reported an increase in their market exposure
- 58% of businesses that have used social media marketing for over 3 years reported an increase in sales over that period.
The TYO Women's Incubation Services for Entrepreneurs (WISE) women have recognised the importance of social media and the impact it can have on their businesses, therefore TYO has provided these women with specific classes and training in social media. In the recent weeks they have been in the process of learning the different platforms of social media and how each platform can be specifically used to improve their businesses. These women have effectively used Facebook to market their business and are currently learning how LinkedIn can help their professional careers as well as their businesses.
Danish is an intern at TYO in Nablus.