Confusion Reigns for Brands, But the Social Media Future Is Bright
A recent report by E-Consultancy on the Value Of Social Media, shows some interesting statistics on the level of use of social media by over 400 companies surveyed and the general “experimental” stage most are in, regarding this new way to reach consumers.
Few would argue that there is a big opportunity for companies to take advantage of the myriad of social media marketing options. But this same myriad can be confusing and the options are evolving at a blistering pace. For brands and agencies used to traditional media campaign timelines and planning, it can be daunting to simply keep up with the options available, let alone form a coherent strategy that dovetails with current messaging. Given this, it’s not surprising that few companies have a firm grasp on the subject.
A pressing question for those dipping a toe in the social media waters is how to measure ROI. According to the report, “A third of respondents (32%) are getting less than 1x the return on investment from social media.” The survey summary also states that, “Almost two-thirds of respondents (61%) say their organizations are “poor” (34%) or “very poor” (27%) at measuring ROI.”
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