While I partially understood the power of today’s emerging media, the influence that we have allowed these media to have on us is the staggering realization that I was faced with, in the statistics that were uncovered in researching for the previous post.
As sort of a sequel, I was intrigued to further explore just how deep this influence extends into the dynamics of our everyday lives—more specifically for consumers, companies and in the workplace.
Consumers—While a majority of the statistics presented in the previous post were in relation to this community group, even more information was uncovered that highlights the importance of emerging media in today’s society.
According to the Neilsen Company, the majority of time that consumers spent online in 2009 was dedicated to social networks and blogs, with online games and instant messaging close behind. In fact, the global average for time spent on social networking sites per person has grown to nearly five and a half hours per month—an 82% increase! And while Twitter was the most popular social networking site for company use, Facebook was the most popular choice for consumers.
This statistic remains true for the online shopper group of consumers as well. according to the “2010 Social Media Report” from ForeSee Results, 69% of online shoppers regularly use social media sites. The overwhelming winner in terms of shopper presence was Facebook, with more than one-half of respondents using it regularly. YouTube took the second spot, with former giant MySpace far behind its rival. Only about one in 10 online shoppers surveyed used Twitter.
Even in consumer decisions like purchasing an automobile has been largely impacted by the role of interactive media. A Yahoo! Search Marketing Proprietary and Confidential study shows that 88% of consumers considering a vehicle purchase used the Internet to research the product online before stepping into the dealership, and 79% said that they used the Internet to research the dealerships themselves. According to the responses, social networking tools was cited as the number one tool that consumers used in “pre-shopping”—compared to their previous purchase (2002 on average).
Companies are no doubt realizing the tremendous benefits that come from involvement in methods of emerging media. And as these media evolve, so does the level of involvement and the tactics that which they employ.
Such can be seen in a global survey conducted by McKinsey of marketing executives from around the world. The study shows that when it comes to marketing, things are changing—companies are moving online across the spectrum of marketing activities, from building awareness to after-sales service, and they recognize online tools as an important and effective component of their overall marketing strategies.
The emphasis that marketing executives are placing on these emerging media is also made apparent—according to a forecast by Forrester Research, interactive marketing expenditures will reach $55 billion by 2015, accounting for 21% of all marketing budget spending.
While consumers logged most of their time online last year on the social media platform Facebook, the most popular choice for Fortune 100 companies was Twitter. In fact, Twitter surpassed blogging as the social media platform of choice – at least among the Fortune 100. A recent analysis compiled by Burson-Marsteller and Proof Digital Media found that the largest 100 companies in terms of revenue as compiled by Fortune Magazine’s annual Fortune 500 were active on three key social media: Twitter, Facebook and Blogs.
The study found that these companies are transforming their uses of and for social media—54% of the Fortune 100 were using Twitter to reach out directly to stakeholders, while 32% were using a blogs and 29% were actively using a Facebook Fan Page to engage. Despite the perception that Twitter is the newest kid on the block among the three platforms, 76% of Fortune 100 companies that were using just one social media channel were using Twitter over Facebook and Blogs.
Workplace procedures are even being affected by the increase of use and popularity of emerging media. The competitiveness of U.S. firms is a direct result of the productivity of its workforce.
From a productivity point-of-view, there are obviously many benefits and opportunities that emerging media brings in application to a workplace setting—from internal and external communication, to marketing, purchasing, inventory, sales delivery and service.
From the employee point-of-view, the workplace of today demands that forms of emerging media be used on a daily basis for communication and overall productivity (relating to the list above)—utilizing such things like E-mail, Web sites, mobile communication, digital audio, pod casts, mobile computing and blogs.
In relation to employees, and prospective employees—another interesting way to measure the importance of emerging media is to look at the value placed on the skills required to operate in the emerging media workplace. Ball State University conducted a study of human resource professionals that found that respondents indicated a willingness to pay wage premiums to acquire and keep workers who have these skills.
Embracing and utilizing these media have caused and continues to require our understanding and such media to continue to grow. It has been made apparent to me “What’s the Big Deal”—most all facets of our everyday lives are somehow impacted by the growing media landscape. It is a big deal, and will continue to be.
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