More and more Indians are logging on to Facebook and Twitter. There was a record growth (of 37%) in social networking in India last year, according to a study by eMarketer, a US research firm. And the number of users is projected to cross 80 million this year. It was 63 million a year ago.
"With the second largest Facebook user-base outside the US, India is expected to have the largest Facebook population in the world by 2016," says the study, findings of which were released on Friday at a conference in Bangalore on 'Social Media Marketing in Emerging Markets'.
The two-day meet, organised by LN Welingkar Institute of Management Development & Research in association with Academy of India Marketing and IDG Media, was attended by over 300 delegates from across the world.
Another study, by Internet and Mobile Association of India, presented at the meet, says that in 2013, over 78 million netizens were active users of Facebook, registering a 50% growth over 2012. Twitter had 33 million, LinkedIn 20 million.
Corporate executives and B-school researchers spoke on the best practices on social media to promote and market products and services in the virtual world.
Underlining the increasing importance of social media marketing, Institute's group director Uday Salunkhe said: "Over 80% admissions in the institute is social media driven. Naturally, it's an integral part of a holistic marketing strategy that helps cut costs, improve service and create an online personality."
"Today nearly 60% decision making is over before engaging with a brand. Potential customers consider it important to keep abreast of product updates, reviews and feedback on Twitter and Facebook," said Nishant Rao, country manager (India), LinkedIn. Rao said social media had changed the marketing landscape and it was now driving growth.
Experts said social media could negatively affect a brand as complaints could go viral in minutes. However, this can help companies improve at a fast pace.
Jagdish N Sheth, a marketing and strategy professor in Emory University in the US, Portea Medical founder K Ganesh and the founder of BharatMatrimony.com were also among the guest speakers.
Networking is good, says LinkedIn India chief
Though psychologists and medical experts have been highlighting the increasing addiction to social media among youngsters, Nishant Rao, country manager (India), LinkedIn, feels social media has been designed for the good. "Older generation may feel it's bad, but a lot of meaningful interaction is taking place over social media. People now don't want to work for money. They are finding a purpose for working, and networking helps them to find the right kind of job," said Rao on the sidelines of the conference.
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