The uses of social media, and particularly social networking websites, are expanding in scope on a consistent basis. This trend has become almost impossible not to notice in a host of diverse fields and industries, ranging from entertainment and education to marketing and finance.
In two particularly noteworthy recent developments, social networking and the various capabilities of the websites involved in this process have become recognized as major resources in the internet technology (IT) and financial sectors.
For the former, these web destinations are helping IT professionals to network in a manner beneficial to their businesses, as detailed in the yearly "Social Media at Work" survey conducted by UBM TechWeb. Meanwhile, leaders in the latter field are employing the assorted tools of social media as a majorly important resource for online marketing, according to Forbes.
Despite the very nature and presence of social media – which can only, at this point, be referred to as ubiquitous – it is not necessarily a surefire medium of success when used by those in any industry, including IT and the financial sector. It by no means guarantees positive results simply by virtue of its existence and popularity, but rather by its effective employment, accomplished according to well-thought-out strategies for implementation developed by skilled and knowledgeable people.
Social Media Is Not A Silver Bullet
In the arena of IT, this truth has been recognized by some in the industry, as confirmed by the CMO of UBM TechWeb, Scott Vaughan.
"Social media is not a silver bullet when it comes to IT marketing," Vaughan said. "The most effective social media strategies…are often only a component of successful, sustainable marketing programs."
For financial professionals, using online social networking and media resources involves adhering to stipulations laid down by the Financial Industry Regulatory Authority (FINRA). Since the internet, and by extension social media outlets, are constantly changing and evolving, it follows that pertinent regulations necessarily change as well by extension, Forbes reports.
To juggle the concerns of meeting FINRA online marketing regulations with the inherent bottom line of prioritizing revenue enhancement and the potential thereof, businesses in the financial sector are organizing programs to effectively employ social media marketing efforts while maintaining FINRA compliance.
Individuals at businesses like insurance provider Guardian Life Insurance Co. go through a rigorous training program to ensure that they are knowledgeable in the ins, outs, ups and downs of social media outlets, particularly Facebook, LinkedIn and Twitter. Given the existing prevalence of social media in the industry, confirmed by a survey stating that 30 percent of U.S. financial advisors use social networking for business purposes – with or without approval – it naturally follows that companies should ensure that their employees know how to maximize the potential of this resource.
Social Media On The Rise, Networking and Consulting on Purchase Decisions
In the UBM TechWeb study, it was discovered that social networking has an even greater prevalence. A total of 69 percent of surveyed IT professionals claimed to use LinkedIn in their industry, with 44 percent using Twitter for the same purpose.
Additionally, social media is being used by 66 percent of IT professionals for networking with colleagues, as well as by 59 percent for learning about new technology developments and 58 percent for making tech purchases. Finally, a total of 47 percent of the 650 surveyed individuals stated that they used social networking resources for consulting their peers in the industry before going ahead with such purchases.
It is clear that in both of these fields, social media is playing a major role, and that purpose is entirely likely to expand in the future.
