In last week’s blog, we discussed benchmarks for the time that social media marketing requires, as reported in the 2010 Social Media Marketing Industry Report. The same Report cites an interesting trend regarding social media effectiveness:
The Report summarizes findings from an annual survey on the use of social media. In 2009, only 35% of respondents felt that social media reduced their overall marketing expenses. In 2010, that number jumped to 48%. Indeed, the longer a company was involved with social media, the more likely survey respondents were to agree that social media marketing saves money overall.
Undoubtedly, that’s due to a combination of users becoming more proficient at social media, and social media itself evolving. There’s no question that social media makes it easy to communicate with a wide group of buyers and prospects simultaneously, reducing customer service calls, boosting search engine rankings, supplementing prospecting efforts, and serving as a research tool.
How about you? Have you found social media to be a money-saver for your company?