As a part of my duties as an intern at Neoco, I was invited to attend the fabulously techie Internet World exhibition at Earls Court last week. After coming to terms with the sheer size of the show and the huge number of exhibitions stands surrounding me, I collected my “info bag” and began to plan my schedule for the day.
I attended talks from Facebook, Attensity Europe, the Press Association and the Real Story Group all of which considered the future of social media. A lot of focus was devoted to looking at how businesses should incorporate social elements into their web offerings and how they can engage with their customers to get the greatest response.
One of the most memorable messages came from the Facebook seminar, during which the world of business was encouraged to be more “social by design” (by finding ways to motivate consumers to engage with brands through interactive methods). Developments such as the increasing presence of the ‘like’ button (which encourages people to share things with their friends) and sponsored links on Facebook are both already having a massive effect on the way people interact with brands. This is driving businesses to increasingly incorporate social elements into their online properties. This is no surprise though – as the talk revealed, for every 50,000 fans a brand has, it has the potential reach of 6 million further friends and fans.
With 60% of shoppers now searching online beyond traditional brand websites before buying products, it’s clear that consumers today are becoming increasingly savvy shoppers, careful to do their research before they commit to making the final purchase.
The fact that 75% of web users now use social media tools and 80% of company revenues are from loyal customers, confirms that social media strategies need to be incorporated in business – otherwise you risk missing out on a massive potential reach. A study by Nielson revealed that people are four-times more likely to purchase a brand that their friends have “liked” on Facebook.
Overall, my day at Internet World confirmed what I (and everyone else!) already suspects… social media is growing, becoming increasingly influential, and the world of business needs to embrace it and reap the benefits!
Tags Attensity Europe Facebook Internet World Press Association Real Story Group Research