Why Executives Should Embrace Social Media

If you are an executive sticking your nose in the air at the latest “fad”…social media…you better look again. As a leader in your business, you like facts and figures so here are a few for you to ponder:

•In the last 7 years, Internet usage has increased 70% PER YEAR. Spending for digital advertising this year will be more than $25 billion and surpass print advertising spending (forever)

•Lenovo has experienced a 20% reduction in activity to their call center since they launched their community website for customers

•Blendtec quintupled sales with its “Will it Blend” series on YouTube

•Only 18% of traditional TV campaigns generate a positive ROI

•Naked Pizza set a one-day sales record using social media: 68% of their sales came via twitter and 85% of their new customers

•Software company Genius.com reports 24% of social media leads convert to sales opportunities

•Dell has already made over $7 million in sales via Twitter•37% of Generation Y heard about the Ford Fiesta via social media BEFORE its launch in the US and currently 25% of Ford’s marketing budget is spent on digital/social media

•71% of companies plan to increase investments in social media by an average of 40%

•A recent Wetpaint/Altimeter Group study found companies that widely engage in social media surpass their peers in both revenue and profit
(Sources for Statistics: meyersreport.com lenovosocial.com George Wright Blendtec Mashable.com econsultancy.com businessweek.com )

As a business owner you may believe that social media is just a tool for the marketing department but there is value for your entire company understanding the benefits and learning how to listen and participate in the social network. Check out this article from Deming hill “Why Executives Hate Social Media” and see if it doesn’t change your mind.

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