Not Incorporating Social Media could be Fatal

I have a friend who runs a nationwide “traditional” business, and business has been down, like it has been for most people. I suggested that he add some social network marketing initiatives, and his answer was he is “too busy.” He is not alone, according to a recent study, which concludes that only 47% of companies use social media today for marketing, despite the fact that 78% of executives polled feel it’s critical for success. What’s the problem? It seems to me that there is abundant proof in the marketplace of the financial returns to both large and small businesses, the low cost of entry, and the ubiquity of social networks. Dell announced years ago that it had earned $3 million in revenue from using Twitter, and other businesses report daily on increases in web traffic up to 800%.