Social Media Costing UK Economy up to £14billion

A recent survey from MyJobGroup.co.uk has revealed that nearly two million workers spend over an hour per day ‘Facebooking’ at work.

The survey revealed that more than half of respondents’ accessed social media whilst at work, with a third of those spending more than 30 minutes on the likes of Facebook, Twitter and MySpace. Despite all this time supposedly spent chatting and updating profiles in work time, only 14 per cent of respondents said that they felt they were less productive as a result of social media and 10 per cent claimed social media had made them more productive.

Despite this and other surveys which seem to bat around the same figures there is still widespread resistance to banning access to social networks at work. Only one third wanted sites like Facebook, Twitter and YouTube barred during work time. Whether it is the cost of implementing monitoring and filtering protocols, the potential backlash from workers or other factors are behind this reticence is unclear.

Lee Fayer of Myjobgroup.co.uk warned, "Companies would do well to monitor use of social networking sites during work hours and ensure that their employees are not abusing their freedom of access to these sites."

We don’t know from the press release is if these workers access their favourite social media website during work time or on their lunch break or how the £14 Billion price tag is actually calculated.

Social Media Marketing: Taking the Best from Bad News

Although the figures sound alarming, £14 Billion cost to British Business, put in perspective of an economy worth £2 Trillion during a recession is not the end of the world, but it is a large figure. So that’s the bad news.

The good news is for all those companies who want to use social media marketing to promote their brands and companies. It’s clear from this research that accessing social media at work whether on the bosses time or during a break is becoming part of our culture. The smoke break is being replaced by ten minutes to check on Facebook and to update your status. Sandwiches are being munched over twitter feeds rather than a magazine. As this culture shift becomes more ingrained into the fabric of life the opportunities to join the conversation increases.

Social Media Marketing is about inviting potential customers to have a chat. You have the chance to give your customers something, catch their eye and begin your relationship with them before they even know what your product is and how it can help them. For the foreseeable future, social media marketing is only going to get bigger.

Social Media and Social Media Marketing are here to stay. You can harness the power of this. Feel free to Call Rake Mark on 01785 256 222 or email sarah.brassington@rakemark.com to see how we can help you use Social Media Marketing.

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