According to a report by Warc (@WarcEditors), over 90% of major brand owners are now using social media; and believe social media has yet to yield tangible revenues.
The report is based on research by Booz & Co (@BoozCompany) and Buddy Media (@BuddyMedia) of executives from 100 companies. The study focuses on social capability priorities, key areas for investment, the evolving role of partners, and major issues related to organization, talent, and metrics that companies are confronting through social media.
· Marketing departments are primarily responsible for social media efforts.
· 94% of firms list Facebook among their top three social priorities, followed by Twitter (77%), YouTube (42%), blogs and branded platforms (25% each), LinkedIn (13%), and location-based tools like Foursquare (8%).
· 94% think adapting and reacting quickly is essential to social media success.
· 93% think having an internal “owner” and “champion” for social media is vital.
· Advertising and promotions are the main use for sites like Facebook and Twitter (96%), ahead of the 88% using them for PR, 75% for customer service and 56% for market research.
· 40% of companies employ social media for sales purposes; 46% think they deliver purchases and meaningful leads.
· 90% tie social media benefits to brand building, 88% stimulating buzz, 81% securing consumer insights, and 78% to enhanced marketing effectiveness.
· Only 38% say their CEOs have this issue on his or her personal agenda.
Let Somersault (@smrsault) guide your brand’s social media strategy. And use the SomersaultNOW dashboard to stay current on news and resources related to social media marketing.