First, consider the following:
1. Facebook has more than 600 million users.
2. The average user has 130 friends.
3. There are more than 100 million active users currently accessing Facebook through their mobile devices.
4. People spend over 500 billion minutes per month on Facebook.
5. There are more than 1 million entrepreneurs and developers from 180 countries on Facebook.
Statistics from Facebook Press Office
6. Twitter gets more than 300,000 new users every day.
7. There are currently 110 million users of Twitter’s services.
8. There are more than 600 million searches on Twitter every day.
9. More than a third of users access Twitter via their mobile phone.
Statistics from Twitter and the Chirp Conference
10. LinkedIn is the oldest of the four sites in this post, having been created on May 5, 2003.
11. There are more than 70 million users worldwide.
12. Oracle’s Chief Financial Officer, Jeff Epstein, was headhunted for the position via his LinkedIn profile.
13. 80% of companies use LinkedIn as a recruitment tool.
14. A new member joins LinkedIn every second.
15. Executives from all Fortune 500 companies are on LinkedIn.
16. Recruiters account for 1-in-20 LinkedIn profiles.
Statistics from LinkedIn press centre and SysComm International
While anyone can list the most common benefits of social networking, I think the truly unique elements fall beneath the sparkle and shine of this new social revolution. Using networks like Facebook, Twitter and LinkedIn do more than just promote your company by allowing users to fill an internet profile with content; they create interaction between yourself, your business, your employees, and your current and potential clients. They also create a community around you and your business. Where once upon a time marketing and advertising was a one-way street, it has now become a dual channel for communication. The whole point is to create discussions, spark debate, and above all else, get people talking!
A huge advantage is that businesses and individuals can share information as it is happening in realtime. There is no longer a lag between when an event occurs and when others are informed of its occurrence. Life and news are happening almost simultaneously. If you aren’t in the loop, you aren’t receiving information at the same rate as your network or, worse, your competitors. It is like comparing dial-up internet to high-speed internet. Which would you rather have?
It is also important to consider how individuals are accessing social media. With information traveling at high speed, it only makes sense that people should be able to access this information just as fast, and so brings us to the era of smart-phones. Information is reaching recipients in realtime without the restriction of individual schedules. Networks of people are now able to send, receive and respond to news at any time, anywhere, further pushing the pace at which news travels. What does this mean for your company? You are literally able to stay in front of your network 24 hours a day, 7 days a week.
The social media venue for communication is also much more personal than a cold call or even a business meeting. You can interpret the character of an individual or company faster than ever before by following “posts,” reviewing profiles and looking at the community of people surrounding a particular person or company. One’s profile expresses things about them that would not necessarily come up over a Caesar salad at Panera Bread. Suddenly, you know where Jane went for dinner last night and that the seafood was terrible and what John’s new favorite movie is, all of that before you’ve even finished your first cup of coffee. Networks learn about one another’s hobbies, likes, dislikes and even families in a matter of minutes. From a business perspective, this could be a huge competitive advantage. Knowing and understanding your current and potential clients is half the battle!
Conversely, others are creating conclusions about you, so it is imperative that you consider the image your profile (and, by association, your community) reflects. Who is your target audience and what are you saying to them? Are your posts geared toward your entire network or only part of your network? When someone chooses to follow you, they are also choosing to follow the people around you. Like the six degrees of separation, your social networking web can reach anyone! Remember, though, great power requires great responsibility. For many of us, our networks include family, friends, co-workers, and potential or current clients. Mixing your social life with your professional life can be tricky. The key is to communicate with the various groups within your network in such a way that enables new connections and ultimately promotes growth within the community you are creating.