Perhaps it’s simply a case of those two latter points being inter-related. Perhaps as respondents gain more confidence in their ability to execute high-level social media marketing programs, they’ll be more likely to see some real returns. Or maybe despite all the excitement, social media just isn’t a revenue-driver.
Either way, respondents will forge ahead: 7 in 10 said they’d up their social media investments over the coming year. That seems like a whole of faith in an unproven channel, given that 73% of those same respondents aren’t currently measuring social media ROI. But that just circles back to those initial results: despite the lack of clarity, most simply believe that social media is a priority that, if nothing else, is a strategic branding tool.
- The most common uses of social media by respondents are: brand building (90%); customer engagement (81%); and a channel to broadcast messages to customers (78%).
- In terms of strategic importance, Facebook ranks first, ahead of LinkedIn and Twitter. Facebook also gets the majority of resources.
- 36% of respondents are using Pinterest and 28% Google+. 60% forecast an increase in their use of Pinterest this year.
- 7 in 10 respondents allocate less than 20% of their marketing budgets to social media.
About the Data: The Nectar Online Media study was conducted in partnership with the Social Media Club, among more than 400 respondents from companies of all sizes, and from a large cross-section of industries, with concentrations in advertising/marketing/communications, media & entertainment, nonprofit, and retail. More than two-thirds of participants were from organizations with less than $500 million in revenue, and another quarter work at organizations with more than $1 billion.
The vast majority of respondents were at the Director or above level in their organizations and were social media decision-makers and/or influencers for their companies.