Home > Features > Social Media - Business Marketing Tool • Bookmark   • Newsletters   • Register Search Options


Social Media - Business Marketing Tool

Social Media - Business Marketing Tool

March 19, 2010
Text size: 
Get XBIZ News
XBIZ Research
Will virtual reality boost the paysite market?
Yes, it will soon
Yes, but in a few years
Out of 168 votes. Results based on votes submitted by members of XBIZ.net social network.

When you hear the phrase “social media,” chances are your first thoughts go to the legions of today’s youth who spend countless hours posting messages, updating Facebook pages and “tweeting” their every move to Twitter. But believe it or not, social media has become a major marketing tool for many companies across the country and around the globe. The same technologies that make it easy for teens to “market” themselves into social circles and meet new friends can effectively be used to market businesses into diverse markets and reach new customers or clients.

A study conducted by the Center for Marketing Research at Dartmouth chronicled social media usage in 2007 and 2008 revealing an upward trend of 91% of professional firms utilizing at least one social media tool in 2009, with 75% of those users stating that they were “very familiar” with social networking. The wide spectrum of social networking, which includes blogging as well as name-brand tools such as FaceBook and Twitter, with MySpace less influential, has seen the most growth in adoption by professionals. In the same time period, other technologies that many predicted would continue to grow, such as wikis and online video, have seen a decline in use.

Despite its somewhat annoying name, Twitter has caught on the most with more than half of businesses polled confessing to “tweeting.” This service is being used in many ways, the most productive including keeping in touch with customers/clients, alerting customers to new products, sales or trends and developing a more familiar/friendly relationship with consumers through regular communication.

For social networking it seems as if everything is moving up. In fact, the only thing that has dropped compared to surveys as early as 2007 is the percentage of companies that did not use any form of social media. In 2007 that figure was 43%, but in 2009 it was a mere 9%. It seems everyone sees the benefits to utilizing social media technology in some capacity to increase and improve business.

So who is holding out? Who is in that 9%? The survey also revealed that larger, more traditional companies such as those listed in the Fortune 500, were taking longer to jump on the social media bandwagon. Private US companies were the largest percentage of the group who had expanded their use of social media in recent months. Those who found success stated that they tracked the benefits by measuring hits, comments to their company’s websites as well as leads and sales as primary indicators. Companies were also paying close attention to mentions of their brands in the social media community among other bloggers and non-company participants, up to 68% in 2009 climbing steadily from 60% in 2008 and 50% in 2007.

What does 2010 hold for your social media involvement? What new trend will catch on?


Finding the Right Payment Business Model

One consistency among nearly all paysite owners is that they are creatures of habit. After all, how else could someone tirelessly produce or procure similar content steadily in order to update their commercial... More »

What Payment Plan Suits Your Bottom Line

The most disappointing aspect of merchant processing is having to tell a merchant that all domestic options have been exhausted and that there isn’t a bank in the U.S. willing to open a merchant... More »

The Journey Toward Artificial Intelligence in Processing

Let’s be honest. If you’re running a company you spend most of your time trying figure out what the hell is going on. Then you spend the rest of your time — what’s left of it —... More »
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.

Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Subscribe to XBIZ World magazine, the industry's leading e-commerce trade publication, delivering in-depth coverage of the online, mobile and ancillary digital markets.


XBIZ 2017

Jan 09 - Jan 13
Hollywood, CA

XBIZ Awards 2017

Jan 12 - Jan 12
Los Angeles, CA

ANME Founders Show

Jan 14 - Jan 15
Los Angeles Marriott Burbank Airport

Everything To Do With Sex Show

Jan 20 - Jan 22
Montréal, Québec
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!