A recently released report by Rockbridge Associates and the Robert H. Smith School of Business at the University of Maryland states that increased online social networking is one of the primary ways in which Americans have changed their priorities in response to the current recession. The study found that 33% of Americans are spending more time communicating with friends and family through social networking sites, second only to watching television (34%) as the primary lifestyle change versus one year ago. Cutting expenses, increasing savings, and stopping 401K contributions have been the major personal changes Americans have made in the economic sphere since last year, the report says.
The report’s conclusion? Relationships win. Though consumers have reduced their spending on products, sales of services have been affected to a lesser degree. The resilience of this “customer-relationship orientation” and the likelihood that social networking will outlast the economic downturn lead Rockbridge and UM to conclude that “continuing the relationship with customers is a key strategy for service providers.”
The way to do this, of course, is to go where the customers are. As user numbers continue to climb for sites like Facebook and Twitter, the social media marketing services we provide at Molding Web can help your business to connect with the growing number of Americans who are making use of these services.
