Although relatively new on the scene, social media is spreading fast. By some estimates, social networking now accounts for 11 percent of all time spent online in the US. Between December 2008 and December 2009, total visits to the top 10 social networking sites increased 63 percent. Nearly one in 10 Internet visits ends up at a social network; nearly one in four page views is on a social networking site.
The conversations taking place on these social networks can build or erode your brand, your reputation, leads, sales and revenue. Outspoken and respected individuals can influence masses of friends and followers to change their opinions about you. They can trash you or defend you. You can assuage them, cultivate them and turn them into your strongest advocates; or not.
Collectively – representing more than 100 million unique visitors and more than a billion tweets per month – social media is a force too powerful to ignore.
Katie Paine, CEO of KD Paine & Partners
There’s a wealth of customer and business insight to be found in all these interactions. But organizations are struggling to understand, measure and capitalize on this untamed, open forum. Savvy marketers are reading and
responding to social media content, but few organizations consolidate and analyze it in a systematic and strategic way. It is no wonder; harnessing data from the ephemeral, global conversation is like herding cats.
“Social media requires marketing professionals to completely rethink their definitions of success,” says Katie Paine, CEO of KD Paine & Partners, the leading measurement and accountability research consultancy. “The whole world has fundamentally changed with the arrival of social media.”
Download the white paper Social media metrics for practical tips from Paine on combining new analytic tools with best practices to maximize value of social media — as an outbound channel, inbound touch point and wellspring of new intelligence.