Companies Using Social Media Get More Customers & Revenue #ROI

Still wondering if social media is a worthwhile venture for your business?  According to a newly-released survey of over 17,000 businesses world-wide, conducted by Regus, figures confirm, with rare exception, that those businesses that invest in social media see a measurable return on their investment, both in terms of new customers and increased revenues.

According to the survey's analysts, the results show that "a good blog is now no longer a pleasant addition [to a business' marketing presence], but a core skill and savvy use of Twitter and Foursquare, for example, can be real differentiators for a business."

For more social media news, please join me on Twitter:  GlenGilmore

Twitter & #FB Beat #LinkedIn In Daily Love

The numbers are in:  LinkedIn doesn't get much daily love compared to Facebook and Twitter.  "52% of Facebook users and 33% of Twitter users engage with the platform daily, while only 7% of MySpace users and 6% of LinkedIn users do the same," according to figures presented in a newly-released Pew study.  These figures say much about some key differences in the triumvirate of social networks:  Facebook, Twitter, and LinkedIn. 

Facebook and Twitter soundly trump LinkedIn for daily engagement.  This should give pause to some who still persist in thinking that LinkedIn is the only social network they need to be on to stay abreast of trends and topics related to their fields.  The most vibrant conversation is clearly taking place on Facebook and Twitter, as demonstrated by a much higher level of daily engagement than found on LinkedIn.  (Yes, there's plenty of chatter on all social networks, but, by engaging, you'll learn how to sift for the conversation gold.)

Please feel free to join me on LinkedIn  Facebook Twitter

Please comment below to let me know what you think about the stats and what they mean!  Thanks! 

Twitter Best Practices For Business

Twitter is a great place to do business, if you follow some simple best practices.  Twitter has done a nice job of outlining core advice on the subject in their welcome center:

For more great info on best practices for businesses on Twitter, be sure to visit Twitter's resource center for business!   Before go, though, please join me on Twitter!  @GlenGilmore

Women & 18-22 Year-Olds Most Likey to "Like" Facebook Content

In its latest study on internet usage, Social Neworking Sites and Our Lives, the independent research organization, Pew, reports that women are significantly more likely than men to "like" content on Facebook.

In addition, the youngest group of Facebook users surveyed, eighteen to twenty-two year olds, were found to be the most likely to "like" and to "like" content most frequently throughout a day - which portends increasing social interactions for brands in the future.

Brands take note! 
And you're welcome to join me on  Twitter or Facebook!

Confirmed: Most of Your Facebook "Friends" Are From High School

Confirming what we've long suspected, the highly-regarded, independent research organization, PEW, has just released a new report, Social Networking Sites and our Lives, that tells us that most of our Facebook "friends" are, indeed, the very folks we knew from high school....

Now, if you'll forgive me for returning to Twitter, where I'll be checking in on a few new ideas and folks from around the world...  @GlenGilmore

Ah, before I go, in case if you were still thinking that social networks are making us more socially isolated, think again:

2 Big Lessons from Morgan Stanley's Social Media Investment

Wall St. Bull photo - Wikipedia
1.  Tell Your Story in Social Media or Someone Else Will

Wall Street brokerage powerhouse, Morgan Stanley, made a bold investment decision:  within the year, all of its 17,800 financial advisors will be tweeting on Twitter and connecting on LinkedIn.  Bullish on Social Media, its head of U.S. sales, Andy Saperstein, proclaimed: 

MSSB is committed to continue leading our competition in innovation.  This will be a significant competitive advantage.

So where did Morgan Stanley break this bold announcement?  Well, ah, it didn't....That announcement came in an internal memo that was leaked to the press and whizzed through the corridors of social media until Morgan Stanley finally acknowledged that the memo was genuine.  Social media moves in real time.  Not having a presence in social media assures that you will be chasing the story rather than telling it.

2.  Just Because You're the Biggest, Doesn't Mean You'll Be the Best

Morgan Stanley, the world's largest brokerage firm, with over 60,000 employees, in 600 offices, in thirty-six countries around the world, has mind-boggling resources at its disposal.  What hope is there for medium-sized and small brokerage firms to compete in social media if such a giant is entering the arena?  There is great hope and opportunity for smaller financial firms to join the social media conversation and leap frog the giants.

Spam from 18,000 Brokers?

Glossed over by many reports touting Morgan Stanley's decision to invest in social media are the details of the announcement.  According to the internal annoucement memo, directed to an inaugural class of 600 of their most successful brokers who will be given the chance to begin using Twitter and LinkedIn by late June of this year, "You will have the ability, with a click of a button, to share pre-approved 'status updates' or 'tweets' with your social and professional networks."

Though the roll out will begin with 600 of its advisors in late June, it will include all of its nearly 18,000 financial advisor before year is out.  What will be the effect of 18,000 brokers tweeting the same "pre-approved" content?  Morgan Stanley could very quickly find its Twitter accounts suspended as Twitter has gotten much stricter about fighting spam and content farms.

Social media engagement that consists of scores of brokers sharing the same content from a library of pre-approved content is doomed to failure.  Smaller and medium sized firms that decide to follow Morgan Stanley's entrance into social networking, but with real commitment to human, real-time engagement, will quickly surpass Morgan Stanley in building a community and connecting with consumers.  Smart social media investors will manage their social media porfolio much more effectively if they follow not only the clear rules set by the financial industry's lead regulatory authority, FINRA, but the unwritten rules of effective social media participation:  it's about listening, learning, sharing and connecting -- not about spamming "pre-approved" content.

Smaller, independent brokerage houses that can move with greater agility and less bureaucracy, will have an even greater opportunity for social media success than larger firms that just don't understand the human component and real-time nature of social media.

The link to LinkedIn for the head of Morgan Stanley's U.S. sales, Andy Saperstein, who made the earth-shattering announcement about the firm beginning to use LinkedIn and Twitter, appears to be genuine as it is the only account bearing his name.  The effectively abandoned LinkedIn account,  with no connections, biography or photo, underscores the slow-moving nature of very large organizations even when they are making a seemingly bold, planned-out move.  It spells opportunity for the competition.

Your thoughts?  Will Morgan Stanley get it right?  Will smaller firms manage the investment better?  Will it be a good investment?

Please join me on Twitter!  @GlenGilmore

Related Reading:

Morgan Stanley to Tweet and Connect on LinkedIn

When Morgan Stanley Talks, People Listen