If you’re still of the opinion social networking is a waste of time and resources, 85% of sales managers think you’re ignoring a major source of revenue. 

Nearly 85% of sales organizations have a social media program in place, and 75% plan to expand their efforts in the months to come, according to a recent study conducted by MoreVisibility (a leader in Web 2.0 technology).

Some other findings:

• 98% of companies use Twitter as the main focus of their social media initiatives
• 96% of companies use Facebook as a secondary source, and
• 74% also use LinkedIn as part of their strategy.

Most experts agree that social media hasn’t reached its full potential yet, at least in a business sense.  When respondents were asked how successful their social media initiatives had been thus far (on a scale of 1-5):

• Just over 8% rated their program a five, which meant they were seeing an outstanding return.
• 40% rated their program a four
• 39% rated their program a three
• 11% rated their program a two, and
• 2% were completely dissatisfied with social media.

Of those companies that had a social media strategy in place:

• Just over 70% spent less than $5,000 a year on social media marketing initiatives
• 7.5% spent between $10,000 and $25,000, and
• Only 5% spend more than $100,000 a year.

Source: “Social Media as Marketing Tool Booming,” a press release from MoreVisibility, HARO and PitchEngine. For more, visit MoreVisibility.com

Have you found any unique ways to turn social networking into a valuable resource? Let us know in the Comments Box below.

Tags: Facebook, LinkedIn, social media, Twitter