Social Media In Marketing Plans, But Resources Limited

According to The Social Media and Online PR Report, published by Econsultancy in association with bigmouthmedia, 86% of companies plan to spend more money on social media in 2010, and a further 13% are planning to keep the same level of budget. 54% of companies say, however, that the biggest barrier to better social media engagement is a lack of resources. Only 10% of companies are not engaging in any social media activity whatsoever.

Phil Gripton, Managing Director of bigmouthmedia, says "These statistics - the most detailed yet available - show that while an increasing number of companies are embracing social media, many are struggling to effectively manage their engagement and are consequently failing to make the most of a potentially enormous opportunity."

Social Media Activity by Business Force (% of Respondents)

Business Force

Heavily Involved

Experimented Only

Not Involved

B2B

11%

65

23

B3C

8

60

32

B2B and B2C

9

68

23

Source: Econsultancy & bigmouthmedia, December 2009

Only a quarter of companies say that they have gained "real, tangible value" from social media, whereas 60% say that they have gained "some benefit but nothing concrete".

Social Media Activity by Sector

Sector

Heavily Involved

Experimented Only

Not Involved

Financial Services

24%

65

11

Publishing

12

60

29

Retail

10

63

27

Travel

11

75

14

Source: Econsultancy & bigmouthmedia, December 2009

Increased brand awareness is seen as major benefit of social media by 73% of company respondents. Additional important benefits Include: are

  • Increased customer engagement (71%)
  • Better brand reputation (66%)
  • Increased communication with key influencers (62%)

60% of companies are either creating video content or using video-sharing sites, and 54% of supply-side respondents say that their clients are using this social media tactic. Online traditional media relations is used by 67% of company respondents. The next most widely used tactics are the use of press release posting sites and wire services (60%) and online press offices and investor centers (44%).

Michelle Goodall, Econsultancy's social media and online PR consultant, said "... most businesses understand how to listen, what to measure and where to engage, but are struggling to define the value of engagement... in social spaces."

The full Econsultancy / bigmouthmedia Social Media and Online PR Report is available for download here.

 

 

 

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3 comments about "Social Media In Marketing Plans, But Resources Limited".
  1. Paula Lynn from Who Else Unlimited , December 24, 2009 at 9:33 a.m.

    What is missing in this research is expense. An extra $30 plus absurd extra costs per month minimally which is off the radar for too many people and families and they cannot even it write off. Anyone seeing this expense from the telecoms reducing?

  2. Tony De luz from socialocean , December 26, 2009 at 11:32 a.m.

    Having worked for a Fortune 10 organization, one who touted the "oneness" of it's customer-facing operations, I think social marketing is scaring the pants off the big guys, as the ROI isn't necesarily driven by monetary investment. In addition, the enterprise may see social interaction with their customers as a soon-to-be "double-edged sword". Soon-to-be because right now they have control over the one-way customer communication channel. Going social would not only allow for two-way communication, but also elevate the weight of the customers communication. Add to that, the customer experience could instantly be shared on a multitude of media and via a plethora of channels, dissatisfaction would now have a far greater bite and would need to be immediately addressed. Great! I say. Customer Care would no longer be an extension off the auto-attendant, but an organic component of the organizational DNA.

    For the organizations that get social marketing right, the windfall will be unprecedented. For those that sit too long on the benches or fail to evolve, the ramifications will equally be unprecedented.

  3. Andres Maldonado from Magid Glove & Safety , December 30, 2009 at 9:57 a.m.

    In looking at the more detailed summary report, the majority of the respondent companies to the survey are from the UK. When it comes to adoption of social media, I would guess there are some significant geographical differences. It would be helpful to know when a Research Brief like this is published and distributed if the underlying study is coming from a specific country or region.