Thursday, July 23, 2009

Social Media Really Does Boost Sales

Social Media Marketing Makes More Money
Deep engagement with consumers through social media channels correlates to better financial performance, says new study.

By Michelle Megna

Does social media marketing boost the bottom line? The answer is a resounding "yes," according to a recent study that cites a correlation between brands with social media campaigns and higher earnings.

Companies that had the highest levels of social media activity -- and engagement -- increased revenues by as much as 18 percent on average over the past year, while the least active realized a six percent dip in sales, according to research from social media platform Wetpaint and digital consulting firm Altimeter Group.

The report comes at a time when recession-strapped brands are increasingly looking to social media marketing as a more affordable alternative to traditional forms of both online and offline advertising.

Interactive marketing, however, is expected to reach $55 billion and represent 21 percent of all marketing dollars spent in 2014 as advertisers shift money away from traditional media to search marketing, display advertising, e-mail marketing, social media and mobile promotions, according to a recent Forrester study.

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If you're interested in learning more about how contractors can use social media, you should attend Brand U before HVAC Comfortech to hear Chris Hood from Shubee's presentation on "Branding Through Social Media" or attend the Las Vegas Roundtable October 25-27 for Bob Viering's presentation "Marketing Beyond the Yellow Pages: Dominating Local Markets With Online Marketing."

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