Social media a $4.9 billion industry has become one of the fastest growing tools in history. The usages of these tools are nothing less than incredible on both a personal and business level with billions of user’s worldwide logging on to them each day. From Facebook.com to Twitter.com and several points in between, social media has grown to become a vitally important component that drives day to day communications on a global basis.
“What I find to be most intriguing is the way it has started to impact businesses”, says Joe Ferriolo, Director of Wise Business Plans. “There was a point in the not to distant past where businesses frowned upon social media and viewed it as nothing more than a fad. Now, more than 94% of the businesses operating throughout the world have a social media presence of some type”, says Mr. Ferriolo.
With social media becoming more and more prevalent, the competition is heating up. “While we don’t foresee anyone overtaking Facebook.com or Twitter.com, we do see some opportunities on the horizons for professionals and businesses that have the ability to capitalize on them”, says Mr. Ferriolo. “There are a variety of niches in this space that have yet to be tapped into. While they may be small, they have big potential and our staff of professional business plan writers are positioned to assist them in all phases of business growth and development”, says Mr. Ferriolo. Research conducted via IBISworld.com shows that the social media industry projects to drive $4.9 billion in revenues during 2012. The five year growth projections from 2012 to 2017 are an astounding 27.1% which bodes extremely well for all prospective market entrants. Social media business plans developed by Wise Business Plans are filled with innovative, leading edge content that sets the client on a path to success. Social media plans typically come with:
- Competitive Landscape: The competitive landscape must be surveyed in order to give the client realistic expectations. “This industry is growing but one move without understanding the competitive implications can in effect ruin a great business opportunity”, says Mr. Ferriolo.
- Monetization: Monetization is one of the hot button issues in the social media industry. “The beauty of the business model is the organic growth fueled by the free membership. However, while this allows the communities to grow, what we find is that startups are not clear on how to drive revenues and profits”, says Mr. Ferriolo. “We work side by side to help them understand how to monetize their business model and in the process, get the most out of their opportunity”.
- Security: “Security is another big issue that we are finding in the social media space. While members are open to joining these websites, they are leery of the risks that are inherent with joining them”, says Mr. Ferriolo. The professionals at Wise Business Plans are well versed in this area and can guide the client in how best to develop a destination that protects the best interest of the community being served.
Social Media is new, practical and growing at an alarming pace and the professionals at Wise Business Plans have become experts at helping companies operating in this space. When the time comes to develop your plan of action, let the professionals at Wise Business Plan handle all of your Social Media business plan needs.
About Wise Business Plans
Wise Business Plans is a professional business plan writing company that creates custom business plans. The firm is committed to increasing the fundability and growth rate of businesses throughout the globe. To learn more, visit //wisebusinessplans.comor call 1-800-496-1056 to schedule a consultation.