Business survival depends on social networking

Ask most advertisers and they’ll tell you they are really trying to reach people around 25-35 years old. Why? Well, they are the people with most disposable income and most likely to spend money. True enough, it does depend on the product you are selling – few young people are likely to buy a walk-in bath, for instance – but on average, advertisers prefer younger audiences.

Most people in that age group (Generation Y) use social networking sites and blogs. Indeed, according to one study some 85% of people born after 1979 use social networking sites and six out of ten use blogs. And that’s important because additional research shows that three-quarters of people who use social networking sites base their purchasing decisions on what they read from other people.

Social networking users appear to make up their mind as to whether or not to buy something based on what other people say in blogs and places like Facebook and MySpace. In other words, if you are an advertiser trying to reach young people you could be wasting your money; you are more likely to succeed if people are saying good things about your products and services on Facebook.

As I said last week, social networkers expect your business to be involved in social networking sites. Now it appears that these younger people also expect social networks to inform them as to whether or not your products and services are worthwhile.

So what does this all mean for online businesses and Internet marketers? It suggests that if your business does not have a social networking strategy you are unlikely to be able to sell as much as you would like – especially in these harsh economic times. Forget advertising and get engaged in social networking is the clear message of these studies.

Like this article?

Share on twitter
Share on Twitter
Share on linkedin
Share on Linkdin
Share on facebook
Share on Facebook
Share on email
Share via email

Other posts that might be of interest

man searching
Internet Marketing Articles

Can you find what you are looking for?

If you want to increase your sales, your business needs to make it easy to find everything. That means reviewing how your web search works. It suggests you might need to reconsider the navigation structure of your website. It might even mean you need to distribute your content away from your site and have it on a variety of different platforms.

Read More »
Empty football stadium with no supporters
Internet Psychology

How well supported are you at work?

Yesterday I was transported back in time. I haven’t discovered time travel. Instead, my mind quickly flipped back to a meeting about three years ago that involved the same group of people. I noticed how

Read More »
Man using digital technology
Internet Psychology

Are you obsessed with digital?

Being obsessed with digital could take you away from old-school technologies that do the job better. Yet, avoiding technological change can cost your business dearly. How can you get the balance right?

Read More »