We’ve all seen it before: that tweet your favorite celebrity sends out over Twitter, that status update your former childhood friend announces on Facebook, or that blog post about the latest political scandal made on the Huffington Post. Social media continues to advance in the technological world and has become rooted in many aspects of our everyday lives. Who could have predicted that social media would become such a powerful tool for the business industry?
Social media has now integrated with the business industry and is currently on the rise for its popularity among a wide variety of users. Marketers use it to generate quality leads and ensure future sales and profits for companies. Business-to-business companies, also known as B2B’s, use social media to get ahead in their industry and become leaders within their own realm of the business world. Even human resource employees use it for purposes of social networking to create more job opportunities. Business men and women have finally come to realize that social media has become one of the leading tools in creating a successful public relations campaign with the most wide-ranging audience.
Ford has recently used social media as the driving force for their “Ford Fiesta” campaign, where they gave 100 individuals their newest car model, the Fiesta, encouraging them to blog, tweet, flickr, Youtube about their experiences and travels for six months. Ford has strategically decided to market the Fiesta entirely through social media, something unprecedented in the car industry but one that they executed with much success. They far-exceeded everyone’s expectations when they reached a high of 50,000 potential customers, 97% of which were never Ford car owners.
Due to the increasingly dynamic needs and concerns of businesses, many predict that 2010 will become the year where social media really takes off and becomes a mainstream device for business purposes. Marketers have learned that social media offers a more efficient way for profiling specific information that consumers actually seek. It is also helping marketers maintain and develop potential leads that consumers are interested but not yet prepared to purchase goods and services. Even the current participants of the entering workforce have taken hold of social media as a means for marketing themselves and attaining business connections. Social media has become a mechanism through which employees can easily encounter more resources of better quality and can improve their ability to share knowledge and information between users.
All in all, the theme here seems to be clear- social media has attained great recognition as a fundamental business device within our society and its influence continues to grow and advance. It is estimated that by 2014 all B2B firms will spend $54 million alone for social media efforts, a whopping $43 million dollar increase since 2009. It appears that as more and more people come to realize the true capabilities of social media and how they or their firm can benefit from these capabilities to become leaders within their an industry, its progression will only continue forward. So tweet away my friends… go ahead post a blog, because social media might just be the key to a prosperous future for our businesses of today.