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Social Media For Business: 31 Stats and Anecdotes

31 stats and anecdotes to help make the case for Social Media investment in your organization. Highlights from numerous 3rd Party reports and studies that show the rapid adoption of Social Media Marketing for businesses. Includes a compilation of spending projections, penetration estimates, survey data, and specific examples cover all types of businesses.
Because 20 Decibels currently focuses on Twitter, these may have a slight bend to Twitter for Business, but cover the general trends in Social Media as well. For links to sources, visit our blog: http://blog.20dbs.com

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Social Media For Business: 31 Stats and Anecdotes

  1. Social Media for Business: 31 Stats & Anecdotes<br />January 15, 2010<br />
  2. Social Media spending is expected to increase from $716M in 2008 to $3.1B in 2014, a 34% CAGR.<br />2<br />
  3. That 34% CAGR means Social Media spending is growing faster than any other interactive marketing category<br />3<br />
  4. 86% of Marketers plan to increase Social Media budgets in 2010 and 13% are planning to keep the same level of budget<br />4<br />
  5. Pepsi dropped TV advertising for the 2010 Super Bowl. Instead, they&apos;re investing in a $20M Social Media campaign. (After 23 years of Super Bowl ads!)<br />5<br />
  6. Best Buy has over 2,500 employees helping customers on Twitter as part of the Twelpforce initiative<br />6<br />
  7. In fact, Best Buy even purchased TV ads to drive awareness for their Twitter initiative. <br />(Traditional media as the supporting channel and Social Media as the core channel?!)<br />7<br />
  8. Comcast has at least 11 full-time employees dedicated to customer service via Social Media.<br />8<br />
  9. Dell has attributed over $6.5M in revenue directly to Twitter<br />9<br />+<br />=<br />
  10. 99% of online retailers plan to have a Facebook page by 2011 and 91% plan to have a Twitter page<br />10<br />
  11. Social Media played a major role in 2009 Holiday Shopping – 28% of US shoppers say Social Media influenced their purchases<br />11<br />
  12. JetBlue website visitors who also visited Twitter in July 2009 were 35% more likely to complete a booking than visitors who did not visit Twitter<br />12<br />
  13. In 2009, 91% of Inc. 500 companies report using at least one Social Media channel, compared with 77% of companies surveyed in 2008<br />13<br />
  14. In 2009, 52% of the Inc. 500 companies used Twitter, the 2nd most common channel. It wasn&apos;t even present in 2007.<br />14<br />
  15. 53% of the Fortune 500 have at least one active Twitter account<br />15<br />
  16. 57% of the Fortune 100 have at least one active Twitter account<br />16<br />
  17. And they’re starting to expand... 13% of the Fortune 100 have at least 2 active Twitter accounts<br />17<br />
  18. 83% of CMOs are tracking their number of fans in Social Media<br />18<br />
  19. 72% of CMOs plan to attach revenue expectations to their Social Media spending in 2010<br />19<br />
  20. 81% of CMOs plan to link up to 10% of their company’s revenues to Social Media investment next year, up from just 44% in 2009<br />20<br />
  21. 88% of execs at US non-profit organizations are currently experimenting with Social Media<br />21<br />
  22. Small Businesses are catching on too... 68% will increase their Social Media marketing efforts in the next year<br />22<br />
  23. 56% of Twitter users say they use the micro-blogging & communication service for business purposes<br />23<br />
  24. Social Media usage is taking hold at both B2B and B2C business... 81% of B2B and 57% of B2C businesses maintain company-related profiles on social networks<br />24<br />
  25. Over 40% of people have &quot;friended&quot; a brand on Facebook or MySpace<br />25<br />
  26. 20% of tweets are about products such as invitations for product information, answers or responses from peers or directly by brand representatives<br />26<br />
  27. 46% of Facebook users say they would talk about or recommend a product on Facebook.<br />27<br />
  28. 44% of Twitter users have recommended a product.<br />28<br />
  29. 58% of people said if they had tweeted about a bad experience, they would like the company to respond to their comment <br />29<br />
  30. Foursquare&apos;s estimated valuation is $6 Million<br />30<br />
  31. Twitter&apos;s estimated valuation is $1 Billion<br />31<br />
  32. Facebook&apos;s estimated valuation is $10 Billion<br />32<br />
  33. About 20 Decibels<br />We’re developing the Twitter campaign management solution that Social Media Managers & Agencies have been asking for. 20 Decibels makes it easy to manage Twitter campaigns and collect actionable performance data.<br /> Join our free private beta at: http://www.20dbs.com<br />Tweets: @20dbs<br />Contact: Adam Schoenfeld<br />Email: bizdev@cheddrmedia.com<br />33<br />
  34. Sources:<br />Visit this blog entry for links to all sources: http://blog.20dbs.com/Social-Media-for-Business-31-Stats-Anecdotes/2010/01<br />34<br />