Posted by Ajay Tejwani | Posted in Social Media | Posted on 27-06-2010
Tags: facebook, research, Social Media, social media strategy, twitter
According to the R2i study, a majority of marketing professionals view social media as essential to their business, most have not made any money using it. The R2i study makes a compelling case for a social media strategy. The study compared the 35% of companies that reported increased revenue or profit using social media with the companies that did not report a growth outcome. Those benefiting were:
- About twice as likely to have a formal social media strategy
- Almost twice as likely to have a dedicated headcount for managing social media
- About twice as likely to rate themselves as “proficient” or “expert”
- Almost three times as likely to have read a book on social media
Also, another study from Digital Brand Expressions had some interesting findings. The study found 88% agree it is important to have such a plan, suggesting perhaps the lack of a cohesive planning process is preventing the company from moving forward to adopt strategies for the social channel.
Here are some other key findings:
Of those companies that work from some plan, 94% say that marketing activities are included in the plan and 71% say that the Marketing Department is the group with the primary responsibility for creating and maintaining the firm’s social media presence.
- 71% indicate they use social media for public relations communications,
- 55% say that they use social media for sales-related activities.
- 16% say their human resources team is using social media
- Just 26% use it for customer service
Companies that don’t have a strategic plan but think it is important to create one, the number one activity rated as important to include in a social media plan is allocating resources for ongoing activities.
So, all you companies out there, better take notice of social media and have a plan.