A study by Knowledge Networks shows that while social media is certainly ubiquitous we don't use it to buy stuff.
83% of the online population use it in some form and half do so regularly. As a result, Knowledge Networks says that social media has reached saturation point.
Though these stats are US based, I think they are generally applicable. As a point, both Canada and the UK show slightly higher social media adoption rates according to Nielsen and (the UK equivalent of the FCC) OFCOM, and statistics show Australia is on par with the US.
From Marketing Vox, "Knowledge Networks parked the value of social media advertising as "somewhere in the long tail" of other marketing offerings â€" well below word-of-mouth (WOM) recommendations and TV advertising."
And so, according to Knowledge Networks group account director Dave Trice:
"Obviously, a lot of people are using social media, but they are not explicitly turning to it for marketing purposes, or for finding out what products to buy. It's really about connecting with friends, or connecting with other people."
Well what do you know! People actually use social tools to be social.
It's not about sales it's about perceptions
And so for the umpteenth time: social media is not a sales channel.
It's a place where people express themselves and hang out with their friends. Being social isn't about selling, it's about managing perceptions and reputations.
The medium is somewhere where you can monitor consumer comment, head off negative reactions to your brand, and just maybe - if the messaging isn't too in your face - produce a piece of content that people will talk about and either pass on or (even better) build upon.
Twitter a "media thing"
Knowledge Networks also joins in on the 'Twitter isn't all that' meme doing the rounds. Only 1% of the US uses Twitter and Knowledge Networks claims most are members of the media (I guess media in the broadest definition of the word).
Again - perceptions and not sales. More often than not, Twitter is used to kick off conversations that lead elsewhere through sharing links and the like. The very fact that Twitter is stacked with people who are good at making themselves heard and have other outlets (blogs etc), means you ignore it at your peril.
Some more links:
Why Twitter isn't like Second Life (and why it is)
For the benefits of having a human face on social media, check out this survey by DEA Worldwide
For an example of what happens when people start talking about you in the wrong way on Twitter, see this example from Amazon
For an example of why you need to protect your brand IDs online, take a look at the Twitter page of London commuter trains service South West Trains.
Good examples of 'branded entertainment'? Aussie blogger Kate Richardson runs a site all about the topic. Also see this post by Feed Company on 'Stealth Advertising'.
Image - Kill the bird
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