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Posted by: Brent Meacham on May 3, 2011

Social Media for Business

When I go to study in the library I see students with their laptops open. I would like to say that I only see them typing away and working diligently to complete their homework, but from my informal visual surveys I’ve noticed that approximately half of them are actually on Facebook. That seems to be the trend around the world! Take these statistics for an example found at Facebook.

  • More than 500 million active users
  • 50% of our active users log on to Facebook in any given day
  • Average user has 130 friends
  • People spend over 700 billion minutes per month on Facebook
  • There are over 900 million objects that people interact with (pages, groups, events and community pages)
  • Average user is connected to 80 community pages, groups and events
  • Average user creates 90 pieces of content each month
  • More than 30 billion pieces of content (web links, news stories, blog posts, notes, photo albums, etc.) shared each month.

So what does this mean for businesses. According to socialnomics.com 25% of the searches for the worlds top 20 brands are links to user generated content. 34% of bloggers post their opinions about products and brands. Only 18% of T.V. ads generate a positive ROI, and 90% of people that can TIVO ads… do. Twenty-four of twenty-five of the worlds largest newspapers are experiencing record declines. Could it be that we no longer search for the news… but that the news actually finds us? Could it be that we don’t have to find the news about products but that they will find us via social media in the near future? Could it be that social media isn’t a fad, but a fundamental shift in the way we communicate with each other?

From what i have experienced successful companies who use social media act more like party planners, gatherers, and contest generators than traditional advertisers. It is not a question of whether businesses do it or not.. but a question of how well they do it! CEBA has given me the freedom to explore some social media concepts and work with real businesses. The experience has been remarkable.

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