Recent data regarding the use of social media in businesses aggregated

I tweeted, retweeted, bookmarked or Facebooked this earlier (I don’t even remember when and how) but finally found the time to write a bit about it. Two recent studies conclude that “social media are becoming a viable tool in a business marketing mix”. 

I haven’t checked them in detail (which I usually do) but limited myself to some key data, based on this 11 days old blog post on brand strategist Valeria Maltoni’s Conversation Agent (hope you don’t mind, Valeria) since she also adds some nice stats, data from Forrester, etc.

As always, be careful with studies because for each one that says social media marketing is booming, there is one that says something else 🙂

However, I guess that with the Marketing Executives Networking Group (MENG) 3rd Annual Marketing Trends Study and The CMO Survey undertaken by the Duke University Fuqua School of Business and the American Marketing Association, we are quite safe.

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What’s the role of social networks in the consumer’s buying decisions?

In the past few months, much has been written about the role of social networking sites in creating brand awareness. Businesses, all over the world, have been made to believe that social networks may go a long way in creating demand for their products and services.

I believe that too. At least, if businesses have the right strategy and a clear focus on what the role of social media is in their overall brand and marketing strategy.

However, the statistics recently found by a survey conducted by the Opinion Research Corp. for ARAnet have a different story to tell. Disclaimer: I did not find the statistics on the web sites of one of these companies but on this blog

According to the post, of 14 different sources of information a customer may consider while making a purchase decision, social networks ranked much lower than personal networks (60%), TV broadcasts (40%) and search engines (39%).

If you are thinking that social networks may play a pivotal role as a preferred source of recommendation for products and services with young adults aged 25-34, think again. At least, according to these data.

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