By Lee Westell
Principal – New Media Marketing Strategies, LLC. And APUS Industry Advisory Council Member
Social media means big business. Statista, a leading online statistics portal, projects by the end of 2015, worldwide social commerce revenue will reach $30 billion.
Emarketer predicts advertisers will spend $23.68 billion on paid media to reach consumers on social media networks by the end of this year. Internet Retailer’s, “2015 Social Media 500,” a study of 500 select merchants’ use of social media, total commerce sales that could be tracked back specifically to social networks totaled $3.30 billion, a bump up from $2.62 billion in 2013.
But while some companies are thriving using social media marketing, others are lagging far behind. And these days, if you’re not using social media to build customer relationships, you aren’t really marketing.