Social Media will overtake other choices of digital marketing such as the company website. Ian Jindal of Internet Retailing made this patently clear yesterday at FDIH event Business in Facebook
The idea of social networks used for commerce is gaining headwind, and in the next two years may become more powerful than corporate Web sites and customer relationship management software, according to Forrester. Social media in the U.S. will contribute to an increase from $716 million this year to more than $3.1 billion in 2014, a 34% compound annual growth rate. Social media spending will grow faster than spending on other interactive marketing channels, which will grow at a 17% CAGR. For consumer-facing companies, that means tapping into consumers’ increasing expectation that they will participate with your brand. For b-to-b firms, it means leveraging the power of innovative customers who are increasingly engaging with their peers to solve their problems.
