The Impact of "the Social Habit" on Your Business

Over the last couple years, I have been hired by many people to talk and teach about social media and it’s impacts to their business or products.  I work with students at the University of Washington as well as many small businesses.  I will observe and inquire about my clients businesses, then find examples and use cases for exactly how social media does or does not apply to their market.   Finding and considering how the latest social media trends is important to the success of your business, but most people don’t have time (or don’t want to make time) to deal with it.  Thus, I’m wrote this blog post as a way to educate you without being overwhelmed by a gigantic study.

I enjoy reading market studies and applying them to all sorts of different businesses.  In my latest research, I ran across Edison Research’s post “The Social Habit 2011″ and gave it a good think.  Below is my recommendation to you in general business terms as to how each result of their study could affect your business.  This is really interesting to read. So, what does it tell me?

1. “Social Media now reaches the majority of Americans 12+, with 52% having a profile on one or more social networks.  This figure is driven largely by Facebook, which is now used by over half (51%) of Americans 12+.”  -- Tom Webster, Edison Research
• If half of the online American audience is on Facebook, then you probably should be too. Try it, see how it works, advertise, connect and build a network, get recommended. But, if you know that your clientele is not on Facebook or not predominantly American, then don’t spend your business time there because it will suck your time away.
2. “Twitter is as familiar to Americans as Facebook (with 92% and 93% familiarity, respectively); however, Twitter usage stands at 8% of Americans 12+.”  – Tom Webster, Edison Research
• Twitter is heavily used by businesses. While the people who are regular twitter users are typically power users and power recommenders (the loudest voices and most knowledgable), the audience is small. If you have the time to keep up and if your clients use it a lot … let’s say ~30 – 50% of your client base… then, get thee to tweeting.
3. “Approximately 46 million Americans 12+ now check their social media sites and services several times every day.”  – Tom Webster, Edison Research
• People check things like Facebook, Twitter, Ravelry, etc. several times a day… try Morning, Lunch, and after Work, then likely again after bed. Ask your customers when they are online. If you have a Facebook page or twitter profile, observe and note when your clients respond, comment, etc. Then, target your updates (including blog posts) to post right around the time when they are online. If you are the first thing they see, likely they’ll read your stuff. It’s the same addage… if you send email at night, people look at it later the next day. But, if you send the first email of the morning, then likely you’re going to be read. Don’t you typically read the first thing on any list? Most people do too.
4. “Much of this frequent usage is driven by mobile access. 56% of frequent social network users own smartphones, and 64% of frequent social networkers have used a mobile phone to update their status on one or more social networks.”  – Tom Webster, Edison Research
• Mobile, mobile, mobile. If you access on the go, then your clients may too. Does your blog or website look good from a mobile view? Can you shorten updates and sacrifice quality of images in order to reach people when they’re online? Go back to #3.
5. “Location-based sites and services (such as Foursquare and Facebook Places) are familiar to 30% of Americans 12+, and used by 4% of Americans 12+”  – Tom Webster, Edison Research
• Location Based Services – before you dive into this, find out if your client base even uses it. You could get into offering people discounts on location targeting sites, but if your clients are’t using it, don’t waste your time trying to drag them over. Wait until the majority are on OR go after a new segment of your market by targeting a generation who loves to “check-in” and become King of the Puyallup McDonald’s.
6. “Amongst those who do follow brands, products or companies on social networks, 80% indicate that Facebook is the network they use the most to connect with companies.”– Tom Webster, Edison Research
• Facebook influences buying decisions. Why? Because my friend said, “it’s cool”. Better yet, because my friend said it “sucks.”
7. “Nearly a quarter of social network users indicated that Facebook is the social site or service that most influences their buying decisions. No other site or service was named by more than 1% of the sample, and 72% indicated that no one social site or service influenced their buying decisions the most.”– Tom Webster, Edison Research
• No one site is a major influencer. Why? because people are spread out based on their interests. Except when it comes to sites like LinkedIn, Facebook and Twitter where people co-locate with several interests for the purpose of networking, most folks go to other forums or social sites that are targeted toward that interest. For example, Yelp helps with local items, recommendations, and what I can eat or do around me. So, if you were a restaurant, bar, or local brick-and-morter business, Yelp is perfect for you to build a presence on and offer coupons.