social media for business: 31 stats and anecdotes

--CONFIDENTIAL--

Social Media for Business: 31 Stats & AnecdotesJanuary 15, 2010

www.20dbs.com @20dbs

Social Media spending is expected to increase from $716M in 2008 to $3.1B in 2014, a 34% CAGR.

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That 34% CAGR means Social Media spending is growing faster than any other interactive marketing category

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86% of Marketers plan to increase Social Media budgets in 2010 and 13% are planning to keep the same level of budget

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Pepsi dropped TV advertising for the 2010 Super Bowl. Instead, they're investing in a $20M Social Media campaign. (After 23 years of Super Bowl ads!)

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Best Buy has over 2,500 employees helping customers on Twitter as part of the Twelpforce initiative

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In fact, Best Buy even purchased TV ads to drive awareness for their Twitter initiative. (Traditional media as the supporting channel and Social Media as the core channel?!)

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Comcast has at least 11 full-time employees dedicated to customer service via Social Media.

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Dell has attributed over $6.5M in revenue directly to Twitter

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99% of online retailers plan to have a Facebook page by 2011 and 91% plan to have a Twitter page

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Social Media played a major role in 2009 Holiday Shopping – 28% of US shoppers say Social Media influenced their purchases

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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

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In 2009, 91% of Inc. 500 companies report using at least one Social Media channel, compared with 77% of companies surveyed in 2008

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In 2009, 52% of the Inc. 500 companies used Twitter, the 2nd most common channel. It wasn't even present in 2007.

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53% of the Fortune 500 have at least one active Twitter account

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57% of the Fortune 100 have at least one active Twitter account

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And they’re starting to expand... 13% of the Fortune 100 have at least 2 active Twitter accounts

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83% of CMOs are tracking their number of fans in Social Media

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72% of CMOs plan to attach revenue expectations to their Social Media spending in 2010

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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

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88% of execs at US non-profit organizations are currently experimenting with Social Media

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Small Businesses are catching on too... 68% will increase their Social Media marketing efforts in the next year

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56% of Twitter users say they use the micro-blogging & communication service for business purposes

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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

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Over 40% of people have "friended" a brand on Facebook or MySpace

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20% of tweets are about products such as invitations for product information, answers or responses from peers or directly by brand representatives

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46% of Facebook users say they would talk about or recommend a product on Facebook.

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44% of Twitter users have recommended a product.

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58% of people said if they had tweeted about a bad experience, they would like the company to respond to their comment

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Foursquare's estimated valuation is $6 Million

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Twitter's estimated valuation is $1 Billion

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Facebook's estimated valuation is $10 Billion

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About 20 DecibelsWe’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.

Join our free private beta at: http://www.20dbs.com

Tweets: @20dbsContact: Adam SchoenfeldEmail: [email protected]

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Sources:

Visit this blog entry for links to all sources: http://blog.20dbs.com/Social-Media-for-Business-31-Stats-Anecdotes/2010/01

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