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Wednesday, 10th October 2012
The State of Social Media Marketing Report
Source: Awareness Inc.
From Letter from the CEO:
Although 70% of companies report using social technologies, only 3% say they derive substantial benefit from them across all stakeholders – customers, employees, and business partners. One of the main reasons why benefits of social technologies are still elusive is because we continue to apply traditional thinking and approaches to a fundamentally different world. We agree - simply shifting advertising and market research budgets to social media will not suffice. Businesses need to transform their organizational structures, processes, and cultures to reap the benefits of the social potential. So do marketing leaders and their departments.
It is time we apply a new way of thinking to the marketing potential – one that transforms the way we approach, plan and conduct marketing – and not just marketing on social networks. Companies now have the unprecedented ability to monitor what consumers do and say to one another on social platforms, which, as McKinsey points out, provides unfiltered feedback and behavioral data. This insight can and should turn marketing on its head.
Up to this point, marketers did not have scalable ways to identify, segment and prioritize their social followers. Today’s social segmentation is largely rudimentary – there are your fans and followers and then there’s everyone else. But what if there was a better way?
Enter social Marketing Automation and social CRM – new social technologies that are changing the way we identify prospective buyers and customers for increased share of wallet and sustained loyalty. New capabilities such as Social Prospecting allow marketers to mine the social web, identify new likely buyers, collect and store their social data (demographic and social activity), and then segment and prioritize those people according to criteria marketers define.
+ Direct link to report (PDF; 4.6 MB)
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By Adrian Janes
Having begun his career in academic libraries, Adrian Janes is currently an Information Services Librarian with the London Borough of Havering.
In this role, he has particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by Free Pint Ltd. in 2007. He is also involved in training and publicising online reference resources and is a regular contributor to DocuTicker.
Adrian can be reached at adrian.janes@freepint.com
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