Well… almost free. Actually it requires a tremendous time commitment in order to create and execute an effective strategy. But there’s no doubt that social media is continuing to grow and engaging with your audience is becoming ever more important.
Here are some highlights from ROI Research’s June 2010 study of 3,000 social network users titled “S-Net: The impact of Social Media”:
• 40% of those studied indicated that they use social sites to connect with brands and products
• 50% of Facebook users click on Facebook buttons to “like” a brand
• 37% learned about a new product or service from a social networking site
• 32% of respondents have recommended a product/service/brand to friends via a social networking site
• 32% of Twitter users re-tweet content provided by a company or product
And here are some notable suggestions also uncovered from ROI Research’s study:
• 49% of those studied want more printable coupons from the brands with whom they engage
• 46% want notifications of sales and special deals
• 35% want information about new products
I guess that’s why Living Social and Groupon are doing so well.