June 11, 2013

The Great Debate: Google+ or Facebook for Your Business?

Did you know that a Hermes Birkin bag costs more than a new car, that the metal in your coins is worth more than the currency, or that a referral on Google+ is worth more than one on Facebook? As the great debate between Google+ and Facebook continues—and the two gun for attention from all types of businesses—new research confirms that Google+ might be starting to edge out Facebook when it comes to business use.  

While Facebook, a social network giant, may have the highest percentage of social revenue overall – coming in at 38.76 percent – a referral from Google+ is worth $8.43 more than Facebook. According to an analysis of $5 million worth of online purchases from Addshoppers.com, a Google referral is worth an average $10.78 compared to a Facebook referral worth $2.35.  

So how do the other social networking platforms compete with these two powerhouses? Email comes in at number one ($17.93) with an extremely high conversion rate, followed by Google+ ($10.78), Facebook ($2.35), Twitter ($1.62), Tumblr ($1.48) and Pinterest ($1.25).

Not surprisingly, posts about the following garner the most social media shares and engagement: apparel. The clothing industry is closely followed by general stores, electronics, sporting goods, jewelry, children, furniture, beauty, and entertainment. The least shared categories include holidays, office, hardware, novelty and camera. While Google+ referrals might be worth more than Facebook ones, Facebook does drive the most shares for apparel and clothing followed by Polyvore, Pinterest, Twitter and Tumblr; the average order values from Tumblr ($200.33) tops them all.

While the great race between Google+ and Facebook continues, the overarching social media facts remain true; social media produces almost double the marketing leads of trade shows, telemarketing, direct mail or PPC. Moreover, social media lead conversion rates are 13 percent higher than the average lead conversion rates, which give companies a tremendous opportunity to turn leads into sales.

Customers don’t want to buy from a company or brand they don’t know or trust. By engaging with your customers through social media, you start to form relationships and build trust. Become an expert in your respective field. Deliver relevant valuable content, run contents and ask your customers questions about what they want. Not only will this build brand awareness, but your customers will come to you first for advice or purchases.

With more than 70 percent of social network users shopping online, you need to use social media to drive sales. The question now is, which platform’s referral is worth more to you?

Edited by Carrie Schmelkin

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