The Internet moves at an unbelievable, exponential pace. Facebook added 100 million users between February and July of 2010, doubling from 250 million in July 2009 to the 500 million in July 2010. Twitter has 300,000 new sign ups every single day.
As time goes on, social media will become more utilized for business as consumers begin to utilize it more themselves.
As people not using social media (tend to be older people) become more familiar and comfortable with it, the more business will be generated. As more familiar social media users (usually younger people) grow into more responsibility at companies worldwide and become big time decision makers, more business will be generated. The combination of these two things will explode business through social media just as this combination exploded the Internet itself.
The longer you wait, the more strength you’re allowing your competitors to gain by being there that much longer than you. It’s called the first move advantage.
The first move advantage is the sometimes insurmountable advantage gained by the initial or “first-moving” significant occupant of a new market segment. This advantage may stem from the fact that the first entrant can gain control of resources that followers may not be able to match. – Wikipedia
The day will come, in a week, a month, a year, when you realize you need to be capitalizing on social media and by then you will be that much further behind.
No social media competition yet in your market? Then it makes it that much easier for you to get in and dominate your market, making your voice the highest industry voice that your customers will hear. Then your competitors will be crying down the road in a week, month, year when they finally realize the mistake they made.