Proof That Social Media Can Work for Your Photography Business

A global survey commissioned by Regus revealed that 35% of U.S. businesses have successfully used social networks to win new business, reinforcing the impact that social media has had on corporations. However the U.S. lags slightly behind the global average in this regard, with 40% of businesses globally having successfully leveraged social media tools for business development.

Here are some interesting stats from the survey:

• 27% of businesses worldwide have set aside a portion of marketing budget specifically devoted to social networking activities (28% in the U.S.).
• 58% of respondents globally say they use social networks to stay in touch with business contacts (54% in the U.S.).
• 54% use social networks to join special interest groups (44% in the U.S.).
• 34% believe social networking will never become a significant method of connecting to customers and prospects (27% in the U.S.).
• 51% of companies organize, connect to or manage customer groups via social networks.
• 54% use social networks to find useful business information.
• 22% of respondents had found new employment through social networking, in spite of the specific job search functions of networks such as LinkedIn.

While the most popular function of these networks remains that of keeping in touch with contacts, businesses are also successfully acquiring new customers, supporting their retention efforts and interacting with customer groups. With 55% of online Americans registered on Facebook, any reservations towards using social networking for business purposes seem misplaced. This survey indicates that organizations who have not yet ventured into the world of social networking may be missing out on sizeable business opportunities.

The survey also analyzed company size differences and found that overall small companies were slightly more likely to use social networking. In the U.S. 38% of small businesses, compared to 27% of large companies, successfully found new customers through social networks. However, more large companies (34%) have devoted marketing budget to this activity than small companies (26%). Additionally, 47% of small businesses use social networks to join special interest groups, compared to only 37% of large businesses.

On an industry basis, an above average number of media and marketing companies (50%) have found new customers through social networking, while companies in the financial services sector fared particularly badly with only 27%. Surprisingly, more respondents in the retail sector were social networking sceptics (36%). Finally, 8% more IT employees than average (22%) had found a new job via social networking.

Based on these numbers it’s obvious that social networks are here to stay. They’re starting to play a real roll in marketing, promotion, customer service and customer acquisition for both large and small companies. If you’re not already you should get involved and start making connections. Don’t worry about the short term ROI, social media is a long term investment and one that can be very rewarding in the end.

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