The number of new customers attained from social media efforts for companies in the United States grew over 500% in 2009 and it is expected to grow higher than that in 2010.
This segment of new customers from new media outlets, including blogs and forums, now far outnumber those coming in from print and radio advertising programs combined.
Plus, it is much more affordable to reach the people that actually use a company's products and services! As the new media phenomena continues to become more and more popular, companies are going to find that it is absolutely essential to have a presence and a strategy in the social sphere.
Building relationships by listening and communicating back to customers is going to be a key factor that separates average businesses from the great ones, regardless of the industry.
It is only a matter of time until the social media streams in use today merge into one comprehensive collection.
Already businesses are struggling with managing multiple sites and tools.
The next logical step is to introduce a social media management system; One login and one dashboard that can control all your sources from one place.
This year will be a year of maturation and some consolidation within social media circles.
Just as Facebook purchased Friendfeed in 2009, we will see more consolidation corresponding with continuing increased usage.
In the end, however, the average person doesn't want 10 or even five usernames and passwords.
We will see more popular sites either integrate with others (like LinkedIn and Twitter) or add similar functionality to their own platforms to accommodate the many different ways users are using these tools.
If you are out to attract prospective customers and develop your online presence and exposure, you owe it to yourself and the financial future of your business to learn everything you can about social media.
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