Day by day, the rate of social media usage is increasing. I found a really interesting article about its progress.
18% TV advertisements generate positive ROI
56% of people avoid buying from Companies that advertise too much.
100% increase in advertising leads to 1-2% increase in sales
In such cases there are chances for Companies that are doing well to survive.
But the mid-size companies cannot afford such huge cost for promoting their product.
Since Social media is a platform for them to collaborate with their customers, they can enhance the customer satisfaction to increase their revenue.
10% influences the purchasing behaviour of the rest 90%...
There is no concept of consumers in Social media marketting.Its Prosumers where the customers themselves are the producers and consumers of information