Social networking platforms as mainstream business tools.
By AvantiKumar
Social networking platforms are increasingly being used as mainstream business tools in Malaysia, said global workspace solutions provider Regus.
Regus regional vice president, Southeast Asia, Australia and New Zealand, William Willems, said:
“Two out of five businesses report successful new customer acquisition through social networks, according to a global online survey conducted by research firm Unwired Ventures. In Malaysia, 51 per cent of businesses have successfully used social networks to win new business.”
Willems said relatively little analysis was available regarding the real use that businesses make of social networking and whether hard business could be generated through this channel. “The survey asked business leaders not only whether they had made any customer wins using social networking, but also whether they believed the channel effective enough to be awarded its own portion of marketing budget.”
“About 27 per cent of businesses around the world have set aside a proportion of marketing budget specifically devoted to social networking activities,” said Willems. “In Malaysia specifically, 41 per cent of businesses have actively set aside a proportion of marketing budget devoted to social networking activities.”
“The research showed that 70 per cent of respondents in Malaysia used social networking to keep in touch with contacts although only 35 per cent had found employment through social networks,” he said.
“A full 81 per cent believe the main usefulness of social networks was the possibility to manage and connect to customer groups,” said Willems. “Seventy-six per cent of respondents (compared with a global figure of 44 per cent) declared they were impressed by audio/visual animations on a company profile.”
More than 500,000 clients a day use Regus facilities across a global footprint of 1,000 locations in 450 cities and 80 countries. The survey results are from 15,000 respondents around the world, comprising top management and professionals, managers, executives and business persons (PMEBs).
A mainstream business tool
Willems said while globally, social networks were still being used for their original range of functions, small and medium businesses (SMBs) were a little more likely than average to use social networking.
“Perhaps due to this greater than average effort with the medium, 44 per cent of small companies around the world have successfully acquired new customers through social networking compared to medium companies (36 per cent) and large businesses (28 per cent),” he said. “The only exception to this trend is that a smaller than average number of employees at small firms had found new employment through social networking.”
“On a sector basis, the ICT, retail, media and marketing, and consultancy sectors made an above-average use of social networking, while manufacturing, financial services, and the health sector were lagging behind,” said Willems.
“Only 19 per cent of companies in the financial services sector had devoted budget to their social networking activities compared to 38 per cent in the retail and media and marketing sectors,” he said. “Also in the financial services sector, only 26 per cent of companies had successfully won new customers via social networking compared to 48 per cent and 46 per cent in the media and marketing, and ICT sectors.”
“Our global survey has revealed that social networking has finally become a mainstream business tool,” said Willems. “Although there is a hard core of sceptics globally who do not believe that social networks will become a significant method of reaching customers and prospects, a significant proportion of firms are devoting real marketing budgets through the medium to acquire new customers and keep existing ones.”
"This survey indicates that organisations that have not yet ventured into the world of social networking may be missing out on sizeable business opportunities," he said. "[For instance,] the Netherlands (48 per cent), India (52 per cent), Mexico (50 per cent) and Spain (50 per cent), recorded the highest levels of new customer acquisition via social networking.”
Source: http://www.mis-asia.com/news/articles/more-malaysian-businesses-turn-to-social-networking
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