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During Recession, Marketers Turning To Social Networks

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In today’s economy, I’m fairly sure just about everyone has been feeling the pinch.  When it comes to bigger companies, one of the divisions that I’m sure has been struggling, is the marketing division.  How do you advertise your product to people who are struggling with their own financial issues, without spending more money than you can afford?  That is the question plaguing a great deal of companies today and they are finding answers in unlikely places.

Those “unlikely places” are getting far more likely in today’s day and age.  According to new reports, marketers are increasingly turning to social networks to reach their potential clients without blowing huge sums of money they just don’t have.  According to a new study by WhitePaperSource, when over 900 of the leading marketers were asked about their marketing habits:

“…more than 88 per cent of the business establishments are using social media sites, such as Facebook, YouTube and Twitter, to reach out to their clients and further enhance their exposure beyond the conventional reach using other traditional means.”

What’s more, this is actually a pretty new thing.  Of those that responded, almost 2/3 of them have only been turning to social networks in the last few months.  While there are definite positives and negatives to employing this time of marketing plan, it’s clear that it’s a style of marketing that is getting huge and needs to be addressed.  On the plus side, it is Free.  On the negative side, it is, as noted, fairly time consuming to update and more importantly, monitor community and social reaction to your brand.

The study showed that those that have taken the plunge are actually seeing surprisingly great business returns.  Traffic has been up, exposure has been spread and business increased.  Again, a great idea if you can afford the time to deal with the brand you are spreading.  So, all of you in the marketing world, sound off…has social networking helped your business or brand?  Are you turning to social networks?


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