Yet something was missing – the hard business case for social media. Like most companies, Cisco knew it was benefiting from social media, but it couldn’t prove it.
There are some interesting studies surfacing lately in the world of social media. Here’s a summary of three recent research findings covering the benefits of social media marketing, how forums help brands and how businesses are employing social media marketing.
#1: 50% of Small Businesses Say Lead Generation is Biggest Benefit of Social Networking
According to the “Small Business Marketing Forecast 2010” from Ad-ology, lead generation is the biggest benefit of social networking for U.S. small businesses.
In 2004, Steven Cox sat down with a fellow musician after a gig. Cox’s friend and his wife were expecting their first baby and hoping to buy a house. But as a musician and private instructor, he struggled with making ends meet.
“Playing music doesn’t necessarily pay all the bills, unless you have a really big contract or gig,” Cox says. “My friend was hanging flyers in drugstores and music stores but still not finding enough students.”
Cox, once a full-time musician, worked a day job in IT and management consulting at the time. When he suggested his friend go online to connect with aspiring musicians, the friend confessed, “I’m a musician. I don’t know anything about that.”
With that, Cox began orchestrating TakeLessons.com.