The Truth About Social Media
Over the next five years social media marketing is projected to grow at an annual rate of 34%, according to Forrester Research. Social networks have also proven to be an effective way to gauge – and achieve – Internet marketing success, offering unlimited opportunities for feedback, promotion, brand-building and monetization.
“If you aren’t listening to and participating in the conversations that take place in the social media realm, you won’t know when your brand is succeeding or faltering – and you won’t be able to react quickly to customer comments or concerns,” explained USF instructor and social media expert Christopher S. Penn.
Social Media Helps
Social networking sites such as Facebook and Twitter help a wide variety of businesses communicate with the public. They can also help in the face of disaster. After an earthquake rocked Haiti recently, musician Wyclef Jean took to Twitter (as did many of his celebrity friends) urging followers on the social network to donate $5 to Jean’s Yele Haiti Foundation. In a matter of days over $1 million was raised, and it’s still climbing. In another recent example, Facebook spurred a viral campaign where members urged friends to donate to the Red Cross via text messages, raising over $35 million in donations in just 48 hours(2). Facebook also helped raise over $100,000 for various charities with its Causes application, as well(2).
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