{{ searchResult.published_at | date:'d MMMM yyyy' }}

Loading ...
Loading ...

Enter a search term such as “mobile analytics” or browse our content using the filters above.

No_results

That’s not only a poor Scrabble score but we also couldn’t find any results matching “”.
Check your spelling or try broadening your search.

Logo_distressed

Sorry about this, there is a problem with our search at the moment.
Please try again later.

value of social mediaThe majority of marketers are experimenting with social media, and plan to do more of it. Even if they don't really understand what they're doing, how to reconcile strategy with tactics...or how to measure ROI and results.

But can you blame them? Social media marketing is evolving at warp speed, and the marketers who showed up at the presentation of Econsultancy's Value of Social Media Report in San Diego yesterday seemed to take a great deal of solace in learning that they aren't alone in being at the same time bedazzled and befuddled in the face of so many new marketing channels and challenges.

The report, based on a survey of over 400 client-side marketers and agencies, was undertaken in conjunction with OMS.

Topline tactical findings:

  • Facebook is marketers' most popular social media marketing site (85%), followed by Twitter (77%)
  • 69% say they're microblogging on Twitter
  • 57% have created and are maintaining a marketing-related profile on Facebook
  • Over half (51%) are creating and sharing online video

Yet while marketers overwhelmingly say they're using these channels for "soft" marketing objectives: branding, awareness, reputation and PR, their business objectives in social media channels are decidedly harder: sales and ROI.

Another seeming disconnect is what marketers say they're spending on social media marketing. Sixty-eight percent say their expediture is from zero to $5,000 annually (and 81% say that number will rise this year). While it may be true that they're not buying social media, the real cost of their efforts seems higher than they think. Fully 25% of marketers say they dedicate 5-10 hours per week on social media, indicating a real cost in terms of staff, resources and salaries, if not in media buys.

Small wonder most marketers say they're confused when it comes to measuring the ROI of their social media marketing. In fact, 58% say it would be nice to know social media ROI, but that knowledge isn't absolutely critical.

This prompted some incredulity from Convince&Convert's Jay Baer who quipped, much to the amusement of the audience, "Even though everyone treats it as a unicorn, maybe social media is just a horse? Despite the constant bleating everywhere about the need to map precise ROI to social media, two-thirds of respondents to this large study feel measuring social media is less than critical." 

Rebecca Lieb

Published 25 February, 2010 by Rebecca Lieb

Rebecca Lieb oversees Econsultancy's North American operations.

Follow me on Twitter, or connect with me on Facebook.

160 more posts from this author

Comments (3)

No-profile-pic

Anonymous

The cost of maintaining a social media campaign is on-going and largely unknown or not costed (e.g employee resources). Tweeting now becomes part of the job and with international audiences could become a 24 hour job!  Watch out if you update via a mobile device - the task might never end.

almost 7 years ago

Avatar-blank-50x50

seo firm

Most impressive is MySpace, which outpaces all in terms of revenue.

Facebook growing is no surprise. In fact it would be a surprise if Facebook did not grow. It is quite simple, Facebook has had the most money invested, literally poured, into it, at 500 million USD. This immense, and some amy say ridiculous amount of capital can be aggressively spent on PR and marketing schemas to acquire users.

almost 7 years ago

Avatar-blank-50x50

Jay Baer

Thanks so much for the great study, and the opportunity to preview and comment on it. 

Rebecca, is was great to see you in San Diego. I'm looking forward to future collaborations with Econsultancy. 

Cheers,

j

almost 7 years ago

Comment
No-profile-pic
Save or Cancel
Daily_pulse_signup_wide

Enjoying this article?

Get more just like this, delivered to your inbox.

Keep up to date with the latest analysis, inspiration and learning from the Econsultancy blog with our free Daily Pulse newsletter. Each weekday, you ll receive a hand-picked digest of the latest and greatest articles, as well as snippets of new market data, best practice guides and trends research.